Whirlpool Corp. said its fourth-quarter normalized net income was $2.57 per share, compared with the S&P Capital IQ consensus estimate of $3.88 per share.

EPS rose 52.8% year over year from $1.68.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $202.9 million, a gain of 51.1% from $134.3 million in the year-earlier period.

The normalized profit margin increased to 2.9% from 2.2% in the year-earlier period.

Total revenue fell 7.4% year over year to $5.56 billion from $6.00 billion, and total operating expenses decreased 9.6% from the prior-year period to $5.12 billion from $5.67 billion.

Reported net income grew year over year to $180.7 million, or $2.29 per share, from $81.6 million, or $1.02 per share.

For the year, the company's normalized net income totaled $8.67 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $12.16.

EPS rose 16.3% from $7.46 in the prior year.

Normalized net income was $691.0 million, a rise of 16.4% from $593.6 million in the prior year.

Full-year total revenue rose 5.1% from the prior-year period to $20.89 billion from $19.87 billion, and total operating expenses rose year over year to $19.41 billion from $18.55 billion.

The company said reported net income grew 20.5% on an annual basis to $783.1 million, or $9.83 per share, in the full year, from $650.2 million, or $8.17 per share.