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Whirlpool Q1 profit falls YOY

Whirlpool SA said its normalized net income for the first quarter amounted to 3 Brazilian centavos per share, a decline of 69.7% from 11 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 50.8 million reais, a decline of 69.7% from 167.9 million reais in the year-earlier period.

The normalized profit margin declined to 2.3% from 6.9% in the year-earlier period.

Total revenue fell 9.9% year over year to 2.21 billion reais from 2.45 billion reais, and total operating expenses fell from the prior-year period to 2.13 billion reais from 2.16 billion reais.

Reported net income decreased 73.3% on an annual basis to 50.5 million reais, or 3 centavos per share, from 189.0 million reais, or 13 centavos per share.

As of May 5, US$1 was equivalent to 3.05 reais.