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Whirlpool (WHR) Q3 Earnings & Sales Miss, Stock Down 4.3%
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Whirlpool Corp. (WHR - Free Report) , the largest home-appliances manufacturer in the world, released its third-quarter 2016 results, wherein earnings from ongoing business of $3.66 per share jumped 6.1% from $3.45 a share earned in the year-ago quarter. However, the bottom-line came much below the Zacks Consensus Estimate of $3.88.
Following the results, Whirlpool revised its earnings outlook to reflect the impact of weak U.S. and U.K. demand, coupled with the persistent devaluation of British Pound. The company now expects full year 2016 GAAP earnings in the range of $11.50 – $11.75 per share. Earnings from ongoing business is now envisioned in a band of $14.00 – $14.25 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 0.2%.
Revenues: Whirlpool’s net sales inched down 0.5% to $5,248 million, also missing the Zacks Consensus Estimate of $5,310 million. On a currency-neutral basis, sales witnessed a marginal improvement.
Zacks Rank: Currently, Whirlpool carries a Zacks Rank #4 (Sell) which is subject to change following the just released earnings results.
Stock Movement: Whirlpool’s shares fell about 4.3% during pre-market trading hours following the lower than expected results and drab outlook.
Check back later for our full write up on Whirlpool’s earnings report!
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Whirlpool (WHR) Q3 Earnings & Sales Miss, Stock Down 4.3%
Whirlpool Corp. (WHR - Free Report) , the largest home-appliances manufacturer in the world, released its third-quarter 2016 results, wherein earnings from ongoing business of $3.66 per share jumped 6.1% from $3.45 a share earned in the year-ago quarter. However, the bottom-line came much below the Zacks Consensus Estimate of $3.88.
Following the results, Whirlpool revised its earnings outlook to reflect the impact of weak U.S. and U.K. demand, coupled with the persistent devaluation of British Pound. The company now expects full year 2016 GAAP earnings in the range of $11.50 – $11.75 per share. Earnings from ongoing business is now envisioned in a band of $14.00 – $14.25 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 0.2%.
WHIRLPOOL CORP Price and EPS Surprise
WHIRLPOOL CORP Price and EPS Surprise | WHIRLPOOL CORP Quote
Revenues: Whirlpool’s net sales inched down 0.5% to $5,248 million, also missing the Zacks Consensus Estimate of $5,310 million. On a currency-neutral basis, sales witnessed a marginal improvement.
Zacks Rank: Currently, Whirlpool carries a Zacks Rank #4 (Sell) which is subject to change following the just released earnings results.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Whirlpool’s shares fell about 4.3% during pre-market trading hours following the lower than expected results and drab outlook.
Check back later for our full write up on Whirlpool’s earnings report!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>