Whirlpool Corporation (NYSE:WHR) shares are trading lower by 4.67% to $125.20 after the company reported worse-than-expected third-quarter EPS and sales results.
Whirlpool reported quarterly earnings of $4.49 per share, which missed the analyst consensus estimate of $5.52 by 18.66 percent. This is a 32.78 percent decrease over earnings of $6.68 per share from the same period last year.
The company reported quarterly sales of $4.78 billion, which missed the analyst consensus estimate of $5.21 billion by 8.18 percent. This is a 12.83 percent decrease over sales of $5.49 billion in the same period last year.
Whirlpool sees FY22 revenue of $20.1 billion, which is lower than the analyst consensus estimate of $20.59 billion. Whirlpool also sees FY22 EPS of $19.00, which is lower than the analyst consensus estimate of $21.76.
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“While our Q3 results were impacted by ongoing macroeconomic headwinds and continued elevated levels of inflation that resulted in slowing demand, we remain on track to deliver the second-best year in our 111-year history in 2022,” said Marc Bitzer, chairman, and chief executive officer of Whirlpool Corporation.
“Looking ahead, we see these challenges persisting into the first half of 2023, however, we believe we have the right actions in place that will allow us to navigate through the current environment while advancing our portfolio transformation and delivering strong shareholder returns,” Bitzer stated.
According to data from Benzinga Pro, Whirlpool has a 52-week high of $245.44 and a 52-week low of $125.00.
