Whirlpool Corp. (NYSE:WHR) , the largest home-appliances manufacturer in the world, released its second-quarter 2016 results, wherein earnings from ongoing business of $3.50 per share jumped 29.6% from $2.70 a share earned in the year-ago quarter, also cruising ahead of the Zacks Consensus Estimate of $3.37.
Following the results, Whirlpool raised the lower end of its previous earnings guidance range, and now expects full year 2016 GAAP earnings in the range of $11.50 – $12.00 per share. Earnings from ongoing business is now envisioned in a band of $14.25 – $14.75 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been trending downwards over the last 7 days. However, if we look at Whirlpool’s performance in the trailing four quarters (including the quarter under review), the company has an average positive surprise of 3.3%.
Revenues: Whirlpool’s net sales remained flat at $5,198 million, while it came ahead of the Zacks Consensus Estimate of $5,101 million. On a currency-neutral basis, sales advanced 3%.
Zacks Rank: Currently, Whirlpool carries a Zacks Rank #3 (Hold) which is subject to change following the just released earnings results.
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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