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Whirlpool profit misses consensus by 23.7% in Q2

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Whirlpool profit misses consensus by 23.7% in Q2

Whirlpool Corp. said its second-quarter normalized net income amounted to $1.99 per share, compared with the S&P Capital IQ consensus estimate of $2.61 per share.

EPS decreased year over year from $2.04.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $159.5 million, a decrease from $162.1 million in the year-earlier period.

The normalized profit margin dropped to 3.1% from 3.5% in the year-earlier period.

Total revenue rose 11.2% year over year to $5.21 billion from $4.68 billion, and total operating expenses climbed 11.9% on an annual basis to $4.88 billion from $4.36 billion.

Reported net income decreased on an annual basis to $176.8 million, or $2.21 per share, from $179.1 million, or $2.25 per share.