Whirlpool Corporation WHR Shares traded 3.05% lower at $127.00 after the company reported worse than expected third quarter EPS and sales results.
jacuzzi WHR reported quarterly earnings of $4.49 per share, down 18.66 percent from analysts’ consensus estimate of $5.52. This is a 32.78 percent decrease from earnings per share of $6.68 in the same period last year.
The company reported quarterly revenue of $4.78 billion, falling 8.18 percent short of analysts’ consensus estimate of $5.21 billion. This is a decrease of 12.83 percent from sales of $5.49 billion in the same period last year.
Whirlpool expects FY22 revenue of $20.1 billion, below analyst consensus estimate of $20.59 billion. Whirlpool also expects FY22 earnings per share of $19.00, below analyst consensus estimate of $21.76.
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“Although our third-quarter results were impacted by ongoing macroeconomic headwinds and persistently high inflation rates, which caused demand to slow, we remain on track to deliver 2022, the second-best year in our 111-year history,” he said Markus BitzerChairman and Chief Executive Officer of Whirlpool Corporation.
“Looking ahead, we see these challenges remaining into the first half of 2023 but believe we have taken the right actions that will allow us to navigate the current environment while continuing our portfolio transformation and deliver strong returns for shareholders,” Bitzer stated.
According to data from Gasoline ProWhirlpool has a 52-week high of $245.44 and a 52-week low of $125.00.
