Whirlpool Earnings: Tops Wall Street Profit Estimate

Whirlpool Corp. (NYSE:WHR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The EPS beat has shares are up 6.20%.

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Whirlpool Corp. Earnings Cheat Sheet

Results: Net income decreased -40.49% to $122 million ($2.29 per diluted share) in the quarter versus a net gain of $205 million in the year-earlier quarter.

Revenue: Decreased 2.46% to $4.79 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Whirlpool Corp. reported adjusted net income of $2.29 per share. By that measure, the company beat the mean analyst estimate of $2.23. It missed the average revenue estimate of $4.88 billion.

Quoting Management: “Our actions have clearly produced the expected improvement in operating margins, resulting in strong earnings per share and underlying cash flow,” said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation…

…As outlined in October 2011, we successfully improved operating margins through our cost-based price increases, product mix, cost and capacity-reduction initiatives and ongoing productivity programs. Those actions, combined with improving trends in U.S. housing and growth opportunities in emerging markets, create positive momentum going into 2013.”

Key Stats:

Revenue increased 6.56% from $4.5 billion in the previous quarter. Net income increased 64.86% from $74 million in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.78 to a profit $1.9. For the current year, the average estimate has moved up from a profit of $6.98 to a profit of $7.02 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)