Whirlpool Reports Rise In Q3 Profit, Lowers 2011 Forecast

Whirlpool Corp

lowered its 2011 earnings forecast. Whirlpool cut its 2011 earnings forecast to a range of $4.75 to $5.25 per share, versus its earlier forecast at the low end of the range of $7.25 to $8.25 per share. Whirlpool's third-quarter net profit climbed to $177 million, or $2.27 per share, from $79 million, or $1.02 per share, in the year-ago period. Its sales rose to $4.63 billion from $4.52 billion. Whirlpool's adjusted earnings surged to $2.35 from $2.22 per share. However, analysts were expecting earnings of $2.75 per share on revenue of $4.73 billion. Whirlpool shares gained 0.38% to $60.70 in after-hours trading.