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Whirlpool Electric Smoothtop on Top

Zacks Equity Research

Whirlpool Corp.’s (WHR) received the highest rating in its both 30-inch and 36-inch smoothtop categories and also achieved the top five spots in the wall oven category from a leading consumer magazine. The recognition adds value to the company’s investments in innovative cooking products.

The company’s Whirlpool (model nos. WOS92EC0AH and WOS51EC0AS), Maytag (MEW9530AW and MEW7530AW), and KitchenAid (KEBS109BWW) products occupied the top five positions in the wall oven category. Additionally, the Maytag brand with model nos. MEC7536W and MEC7636W grabbed the top two spots in the 36-inch electric smoothtop category.

KitchenAid with model no. KECC604BBL took the top position in 30-inch smoothtop category followed by Maytag with model nos. MEC7430WS and Maytag G7CE3034XP.

Whirlpool has taken a host of initiatives to deliver innovative cooking products. In April 2012, the company inaugurated a new manufacturing facility for producing premium cooking products in Cleveland, Tennessee. It invested $200 million in a 1 million square foot state-of-the-art production facility and 400,000 square foot distribution center.

Over the last 101 years, Whirlpool has emerged as the leading manufacturer and supplier of major home appliances. The cooking innovations introduced by the company have helped the customers over time.

Whirlpool is considered to be the largest home-appliances manufacturer in the world, ahead of ElectroluxAB (ELUXY), LG, Samsung and General Electric Co. (GE). The company is placed among the leading home appliances makers in India and Europe.

Whirlpool reported adjusted net income of $1.80 per share in the third quarter of 2012, significantly higher than 29 cents in the same period last year. With this, profits surpassed the Zacks Consensus Estimate of $1.60.

Revenues in the quarter fell 2.8% year over year to $4.50 billion, missing the Zacks Consensus Estimate of $4.58 billion. Despite a strong product price/mix, foreign currency translation and lower monetization of Brazilian (:BEFIEX) tax credits weighed on the top line.

Currently, Whirlpool retains a Zacks #1 Rank (Strong Buy) for the short term (more than 3 months) and we have a long-term (more than 6 months) Outperform recommendation on the stock.

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