Why Whirlpool Stock Is Riding A Wave Higher After Hours

Why Whirlpool Stock Is Riding A Wave Higher After Hours

Whirlpool Corp WHR shares are trading higher in Monday's after-hours session after the company reported strong fourth-quarter earnings results and said it's well positioned for 2023.

What Happened: Whirlpool reported fourth-quarter revenue of $5.06 billion, which missed average analyst estimates of $5.09 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of $3.89 per share, which beat consensus estimates of $3.25 per share.

Whirlpool expects cost management actions and easing raw material inflation to lead to a $800 million to $900 million benefit in 2023.

"This new cost structure, combined with the expected demand recovery during the second half of the year has Whirlpool well positioned to deliver sustained shareholder value," said Marc Bitzer, chairman and CEO of Whirlpool.

Whirlpool expects full-year 2023 revenue of approximately $19.4 billion versus estimates of $19.21 billion. The company sees full-year adjusted earnings in a range of $16 to $18 per share versus estimates of $15.65 per share. Free cash flow is expected to be approximately $800 million in 2023.

See Also: 5 Most Expensive Industrials Stocks You Should Worry About

WHR Price Action: Whirlpool has a 52-week high of $211.29 and a 52-week low of $124.43.

The stock was up 3.23% in after hours at $158.50 at time of publication, according to Benzinga Pro.

Photo: frankieleon from Flickr.

Posted In: EarningsNewsMoversMarc Bitzerwhy it's moving