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Whirlpool misses 1Q profit forecasts

BENTON HARBOR, Mich. (AP) _ Whirlpool Corp. (WHR) on Monday reported first-quarter profit of $153 million.

The Benton Harbor, Michigan-based company said it had net income of $2.01 per share. Earnings, adjusted for restructuring costs, were $2.50 per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.67 per share.

The maker of Maytag, KitchenAid and other appliances posted revenue of $4.79 billion in the period.

Whirlpool expects full-year earnings in the range of $14.75 to $15.50 per share.

Whirlpool shares have fallen almost 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent. In the final minutes of trading on Monday, shares hit $174.80, a decline of nearly 7 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WHR at https://www.zacks.com/ap/WHR


Keywords: Whirlpool, Earnings Report