logo
Plus   Neg
Share
Email

Whirlpool Profit Tops Street, Shares Jump 8%

Shares of Whirlpool Corp. (WHR) gained 8% in extended trading hours Monday after the home appliance manufacturer's first-quarter profit trumped Wall Street estimates.

First-quarter profit surged to $471 million or $7.31 per share from $94 million or $1.30 per share last year. First-quarter ongoing earnings were $3.11 per share, up from $2.81 per share last year. On average, 8 analysts polled by Thomson Reuters estimate earnings of $2.87 per share for the quarter. Analysts estimates typically exclude one-time items.

Sales for the quarter dropped to $4.76 billion from $4.91 billion last year. Analysts had a consensus revenue estimate of $4.85 billion for the quarter.

Benton Harbor, Michigan based Whirlpool now expects full year 2019 ongoing earnings of $14.00 to $15.00 per share. Analysts currently estimate earnings of $14.56 per share.

WHR closed Monday's trading at 139.36, up $0.30 or 0.22%, on the NYSE. The stock further gained 10.70 or 7.68% in the after hours.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ford plans to bring back the Bronco as a dedicated off-road brand when it launches an all-new 4x4 SUV lineup on July 13. The automaker said it will introduce an all-new Bronco brand under the tagline, "Built Wild". The new lineup includes two-door and four-door models of the Bronco as well as the Bronco Sport compact SUV. J. M. Smucker Co. is recalling certain Natural Balance canned cat food, citing health concerns likely associated with increased levels of choline chloride, an animal growth promotant, the U.S. Food and Drug Administration said in a statement. The recall was initiated after receiving reports of adverse reactions. Polaris Industries Inc. is recalling certain Ranger and General Utility, as well as All-Terrain vehicles citing risks of crash, the U.S. Consumer Product Safety Commission said in a statement. The Medina, Minnesota-based company has called back about 26,730 units of Model Year 2019 - 2020 Ranger XP 1000 & Model Year 2020 General XP 1000 Utility vehicles.
RELATED NEWS
Follow RTT