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Whirlpool Q4 profit falls YOY

Whirlpool SA said its normalized net income for the fourth quarter came to 6 Brazilian centavos per share, a decline of 54.4% from 13 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 91.3 million reais, a decrease of 54.4% from 200.2 million reais in the year-earlier period.

The normalized profit margin declined to 3.2% from 6.9% in the year-earlier period.

Total revenue declined year over year to 2.83 billion reais from 2.91 billion reais, and total operating expenses increased on an annual basis to 2.68 billion reais from 2.56 billion reais.

Reported net income fell 57.8% on an annual basis to 103.2 million reais, or 7 centavos per share, from 244.7 million reais, or 16 centavos per share.

For the year, the company's normalized net income totaled 21 centavos per share, a decline of 47.6% from 40 centavos per share in the prior year.

Normalized net income was 317.4 million reais, a decline of 47.6% from 605.4 million reais in the prior year.

Full-year total revenue fell from the prior-year period to 9.39 billion reais from 9.66 billion reais, and total operating expenses grew year over year to 8.97 billion reais from 8.61 billion reais.

The company said reported net income fell 59.5% year over year to 286.8 million reais, or 19 centavos per share, in the full year, from 709.0 million reais, or 47 centavos per share.

As of Feb. 18, US$1 was equivalent to 4.02 reais.