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Whirlpool (WHR) Tops Q2 Earnings, Revenue Miss Estimates - Tale of the Tape

Zacks Equity Research
Updated

Whirlpool Corp. (WHR), the largest home-appliances manufacturer in the world, came out with its second-quarter 2015 results, wherein earnings from ongoing business of $2.70 a share surpassed the Zacks Consensus Estimate of $2.67.

Further, the bottom line jumped 3.1% from $2.62 a share earned in the year-ago quarter, as the cost and capacity-curtailment measures, gains from acquisitions and favorable mix compensated for currency headwinds and sluggish Brazilian demand.

These factors led Whirlpool to raise its full year 2015 GAAP earnings forecast to $9.50- $10.50 per share. However, earnings from ongoing business are still envisioned in a band of $12.00 - $13.00 per share.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2015 has been trending downwards over the last 30 days. Also, if we look at Whirlpool’s performance in the trailing four quarters (including the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 1.3%.

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Revenues: Whirlpool’s net sales from ongoing business surged 11.2% year over year to $5,208 million, though it missed the Zacks Consensus Estimate of $5,245 million. On a currency-neutral basis, sales advanced over 25%, backed by acquisitions.

Zacks Rank: Currently, Whirlpool carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.

Stock Movement: Whirlpool’s shares are up 1.9% in pre-market trading hours following the earnings release. Clearly, a positive sentiment is palpable among investors following the company’s better-than-expected earnings.

Check back later for our full write up on Whirlpool’s earnings report!

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WHIRLPOOL CORP (WHR): Free Stock Analysis Report
 
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Zacks Investment Research