Categories AlphaGraphs, Earnings, LATEST, Other Industries
Whirlpool stock climbs after Q2 results beat Street view; raises FY19 guidance
Earnings and revenues of home appliance company Whirlpool Corp. (NYSE: WHR) increased in the second quarter and topped expectations. The management revised up its full-year guidance, driving the stock higher during Monday’s after-hours trading session.
Adjusted earnings, excluding special items, advanced to $4.01 per share in the June quarter from $3.20 per share a year earlier and exceeded the forecast. Reported profit was $37 million or $1.04 per share, compared to a loss of $657 million or $9.50 per share in the second quarter of 2018. The prior-year results were negatively impacted by non-cash items.
Net sales of the Benton Harbor, Michigan-based company rose 2% annually to $5.2 billion during the three-month period and topped the estimates.
Sales at Whirlpool North America grew 3% during the quarter, excluding the impact of currency, while Whirlpool EMEA recorded flat sales. At Whirlpool Latin America and Whirlpool Asia, sales grew 9.6% and 4.7% respectively.
Net sales rose 2% annually to $5.2 billion during the three-month period and topped the estimates
“At our recent Investor Day, we laid out a robust strategy for creating shareholder value and our excellent second-quarter results impressively demonstrate that we are on track. Our strong momentum allows us to raise our full-year guidance despite continued global macro uncertainties,” said Mark Bitzer, Whirlpool’s CEO.
Buoyed by the impressive results, the management revised up its full-year 2019 guidance. It currently expects unadjusted earnings to be in the range of $17.80 per share to $18.55 per share and adjusted earnings between $14.75 per share and $15.50 per share.
Related: Whirlpool Q1 2019 Earnings Conference Call Transcript
The company now expects to generate operating cash flow of about $1.4 billion and free cash flow around $800 million in the whole of 2019. The guidance includes restructuring cash outlays of nearly $200 million and capital spending of around $625 million.
Shares of Whirlpool witnessed a great deal of volatility in recent months. The stock has gained 38% so far this year and is trading just below the $150-mark. It closed Monday’s trading slightly higher and gained during the extended trading session.
Most Popular
Costco (COST) reports strong growth in Q1 FY26 earnings; revenue up 8%
Costco Wholesale Corporation (NASDAQ: COST) has reported an increase in net income for the first quarter of fiscal 2026. Revenues grew 8.3% year-over-year. The Issaquah, Washington-headquartered warehouse giant’s total revenues
AVGO Earnings: Broadcom reports higher Q4 FY25 revenue, profit; results beat
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported an increase in revenue and adjusted earnings for the fourth quarter of fiscal 2025. The numbers also surpassed analysts' expectations. Adjusted
Lamb Weston (LW) is set to report Q2 2026 earnings next week, here’s what to look for
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) rose over 1% on Thursday. The stock has gained 4% over the past three months. The French fry giant is slated to
