Oct. 28, 2014, 8:39 AM
- Whirlpool (NYSE:WHR) reports its North American business saw a sales increase of 6.3% to $2.8B in Q3.
- Sales were up 1.2% to $785M for the Europe, Middle East and Africa business.
- Whirlpool Latin America revenue flat at $1.1B, up 3.2% ex-currency and tax credit adjustments.
- Whirlpool Asia revenue -22% to $157M.
- Operating profit rate flat at 11%.
- Guidance: The company expects FY14 EPS of $9.40-$9.99 vs. $10.30-$10.80 prior.
- WHR -2.8% premarket
Oct. 28, 2014, 6:02 AM
Oct. 21, 2014, 11:11 AM
Oct. 14, 2014, 12:51 PM
Sep. 24, 2014, 1:13 PM
- NPD Group reports the U.S. small home appliance saw sales rise 4% to $19.6B for the year ending June 2014.
- Perhaps a surprise, growth in the rice cooker and electric kettles categories were stronger than what was seen for single-serve brewing systems and countertop blenders.
- Related stocks: GMCR, SBUX, WHR, CONN, HGG, HD, NC, SWK, SODA,
Sep. 15, 2014, 6:53 AM
- Whirlpool (NYSE:WHR) announces it received approval from the China Securities Regulatory Commission to acquire a controlling stake in Hefei Rongshide Sanyo Electric.
- Hefei Sanyo is a local producer of washers, refrigerators, and microwave ovens.
- The company expects the deal to close at the end of Q3 or early in Q4.
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Jul. 23, 2014, 11:39 AM
- Anyone buying the knee-jerk 6% dive in Whirlpool (WHR +0.2%) following a big earnings miss and guidance cut is smiling as the stock turns green amid optimistic comments from management on the conference call, with CEO Jeff Fettig saying industry demand levels are set to accelerate in H2.
- Previously: Whirlpool tumbles after big miss and reduced guidance
Jul. 23, 2014, 8:18 AM
- Citing the costs associated with pending acquisitions in China and Europe, Whirlpool (NYSE:WHR) cuts full-year EPS guidance to $10.30-$10.80 from $11.05-$11.55.
- As for Q2 results, North America sales of $2.7B rose about 4%, excluding currency impacts, with operating margin of 10.6%, up from 10.1%.
- Europe, Middle East, and Africa ales of $746M rose about 3% ex-currency.
- Latin America sales of $1.1B declined about 4% ex-currency.
- Asia sales of $211M fell about 9% ex-currency.
- Shares -5.7% premarket
- Previously: Whirlpool misses by $0.29, misses on revenue
Jul. 23, 2014, 6:04 AM
Jul. 22, 2014, 5:30 PM
Jul. 17, 2014, 3:58 PM
Jul. 15, 2014, 1:57 PM
- Shipments of major home appliances rose 11.3% Y/Y to 7.51M units in June, according to industry tracking.
- The development could bode well for Whirlpool (WHR +0.3%).
- On the other side of the equation, electronics and appliance stores (BBY, CONN, HGG) sales rose only 0.1% M/M in June. The annualized rate is well- below the pace of shipments.
Jul. 14, 2014, 10:14 AM
- Fitch Ratings places the ratings on Whirlpool (WHR -1.1%) on Rating Watch Negative due to the company's move to acquire a majority interest in Indesit.
- Though the ratings agency sees the acquisition as "strategically positive" for Whirlpool, the projected increase in leverage from pumped up debt level is a cause for concern.
- The Rating Watch Negative stance could be lifted after the transaction closes and Fitch review Whirlpool's financials.
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Whirlpool Corp is a manufacturer and marketer of home appliances. It produces and sells washers, dryers, refrigerators, air conditioners, dishwashers, freezers, microwave ovens, ranges, air purifiers, and other typical household appliances.
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