UPDATE: Whirlpool Posts Downbeat Q1 Earnings

Whirlpool

reported weaker-than-expected first-quarter earnings. Whirlpool's quarterly earnings fell to $160 million, or $2.02 per share, versus $252 million, or $3.12 per share, in the year-ago quarter. Excluding certain items, its earnings surged to $2.20 per share versus $1.97 per share. Its sales gained 2.7% to $4.36 billion. However, analysts were expecting earnings of $2.33 per share on revenue of $4.3 billion. Whirlpool's gross margin rose to 17.3% versus 17.1%. Whirlpool shares closed at $154.66 yesterday.