Whirlpool Reports Q2 Earnings Beat, While Revenue Misses
2022.07.26 00:38
Whirlpool (WHR) Reports Q2 Earnings Beat, While Revenue Miss
By Davit Kirakosyan
Whirlpool (NYSE:WHR) reported its Q2 results, with EPS coming in at $5.97, better than the consensus estimate of $5.27. Shares were trading more than 2% higher after-hours.
Q2 revenue declined 4.3% year-over-year to $5.1 billion, compared to the consensus estimate of $5.23 billion, impacted by supply chain disruptions and demand slowdown, partially offset by favorable product price/mix.
Whirlpool returned approximately $400 million in repurchases and dividends in the quarter.
“We delivered 9% ongoing(2) EBIT margins globally and 14% in North America – this is further proof of our more profitable and agile business model,” said Marc Bitzer, Whirlpool’s Chairman and CEO. “Moreover, long-term fundamentals of demand remain strong and we continue to progress our portfolio transformation to position ourselves to drive long-term value.”
The company expects full 2022-year EPS to be in the range of $22.00-$24.00, compared to the consensus of $23.91, and revenue of $20.7 billion (down approximately 6%), compared to the consensus of $21.84 billion.
