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Whirlpool profit misses consensus by 24.7% in Q1

Whirlpool Corp. said its normalized net income for the first quarter was $1.79 per share, compared with the S&P Capital IQ consensus estimate of $2.37 per share.

EPS fell 6.8% year over year from $1.92.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $143.0 million, a decline of 6.1% from $152.3 million in the prior-year period.

The normalized profit margin declined to 3.0% from 3.5% in the year-earlier period.

Total revenue grew 11.1% year over year to $4.85 billion from $4.36 billion, and total operating expenses increased 11.5% from the prior-year period to $4.51 billion from $4.05 billion.

Reported net income rose 18.7% year over year to $190.4 million, or $2.38 per share, from $160.4 million, or $2.02 per share.