Whirlpool boasts strong profits on higher prices
The company expects full-year 2020 profit to be between $16.00 per share and $17.00 per share
Stocks impacted: Whirlpool Corp (WHR)
Whirlpool Corp. reported that its profit increased in the latest quarter after it raised prices on some appliances. Net earnings available to the company rose to $288 million, or $4.52 per share, in the fourth quarter from $170 million, or $2.64 per share, a year earlier. Excluding items, Whirlpool earned $4.91 per share, beating estimate of $4.27. Meanwhile, net sales fell nearly 5% to $5.38 billion, missing estimates of $5.52 billion. Cost of products sold fell nearly 8% to $4.33 billion. The company expects full-year 2020 profit to be between $16.00 per share and $17.00 per share versus analysts' average estimate of $16.34. Whirlpool stocks fell 0.85% during the session on Monday and gained 1.5% in extended trading.
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