UPDATE: Whirlpool Posts Upbeat Q4 Profit
Whirlpool (NYSE: WHR) reported a 40% drop in its fourth-quarter profit.
For the current year, it expects earnings of $9.25 to $9.75 per share, versus analysts' estimates of $9.17 per share.
Whirlpool's quarterly profit fell to $122 million, or $1.52 per share, from $205 million, or $2.62 per share, in the year-earlier period. Excluding one-time items, it earned $2.29 per share.
Its sales dropped 2.4% to $4.79 billion. However, analysts expected a profit of $2.23 per share on revenue of $4.88 billion.
Its gross margin rose to 16.9% from 14.5%
Whirlpool shares closed at $108.72 yesterday.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.