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Whirlpool Surges After Q1 Earnings Beat as US Gains Offset Slower Global Growth

Martin Baccardax

shares traded higher Tuesday after the appliance maker topped analysts' forecasts in its first quarter earnings report while confirming its full-year profit outlook as price hikes and lower U.S. input costs boosted it bottom line. Whirpool said adjusted earnings for the three months ending in March came in at $3.11 per share, up 10.7% from the same period last year and firmly ahead of the consensus estimate of $2.86 per share. "We delivered another strong quarter with margin expansion and record first-quarter earnings per share despite a soft demand environment in several countries," said CEO Marc Bitzer.