Earnings Preview: Whirlpool Corp.

Whirlpool Corporation (WHR) is expected to report Q2 earnings before market open Wednesday, July 23, with a conference call scheduled for 10:00 am ET.

Guidance

Analysts are looking for a profit of $1.37 on revenue of $5.03B. The consensus range is $1.10 to $1.50 for EPS, and revenue of $4.91B to $5.11B, according to First Call. In April, Whirlpool revised its FY08 EPS forecast down to $7.00 to $7.50 from $8.50 to $9.00 vs. First Call consensus of $6.71.

Notes

Despite slumping demand in the U.S., Whirlpool's president for Whirlpool North America said that many international markets are growing and the company has seen strength in Brazil, India, China and some Eastern European markets. Todman, who said Whirlpool has started selling its KitchenAid products in new areas, said that Whirlpool's business had some stability because of growth now taking place in the Maytag and Amana brands. Whirlpool recently announced manufacturing production changes to its North American manufacturing operations, which include the closure of its Oxford, Mississippi, and Puebla, Mexico, manufacturing facilities. Units produced at Oxford will be transferred to Cleveland, Tennessee, and will result in approximately 500 new jobs in Cleveland. Production at Puebla will be moved to Celaya, Mexico, resulting in an additional 140 jobs in Celaya.