Latest News

Earnings Results: Whirlpool misses on Q3 sales as it faces ‘elevated supply constraints’

Shares of Whirlpool Corp. fell more than 4% late Thursday after the appliances maker reported mixed third-quarter results, with sales coming below Wall Street expectations amid “elevated” supply constraints.

Whirlpool
WHR,
-0.64%

said it earned $471 million, or $7.51 a share, in the quarter, compared with $392 million, or $6.19 a share, in the year-ago period.

See also: These quality dividend stocks have a built-in advantage that can keep you ahead of inflation in 2022

Adjusted for one-time items, the company earned $6.68 a share.

Revenue rose to $5.5 billion from $5.3 billion a year ago thanks to a “strong consumer demand environment,” Whirlpool said in a statement. “Elevated supply constraints” remain, however.

Analysts polled by FactSet expected the company to report adjusted earnings of $6.14 a share on sales of $5.7 billion.

Whirlpool increased its full-year 2021 per-share earnings guidance to about $27.80, and about $26.25, adjusted. The analysts surveyed by FactSet are looking for adjusted EPS of $26.36 for the year.

Shares of Whirlpool have gained about 15% this year, compared with gains of around 21% for the S&P 500 index
SPX,
+0.30%
.

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News