An image of some coins and die
Markets

Whirlpool Shares Surge after Q1 Earnings Easily Beat View (WHR)

Appliance maker Whirlpool Corporation ( WHR

) said Monday that its first quarter profit more than doubled from last year, prompting the company to boost its full-year guidance.

The Benton Harbor, MI-based company reported first quarter net income of $164 million, or $2.13 per share, compared with $68 million, or 91 cents per share, in the year-ago period.

Revenue surged 20% from last year, to $4.27 billion.

On average, Wall Street analysts expected a much smaller profit of $1.33 per share, on significantly lower revenue of $3.79 billion.

Looking ahead, the company raised its full-year earnings guidance to a range of $8 to $8.50 per share, compared with a prior outlook of $6.50 to $7 per share. Analysts currently expect $7.08 per share for the year.

Whirlpool shares jumped $10.28, or +10%, in premarket trading Monday.

The Bottom Line

Shares of WHR have a dividend yield of 1.68%, based on Friday's closing stock price of $102.22. The stocj has technical support in the $90-$92 price area. If the shares can continue to gain momentum, we see overhead resistance around the $110 price level. We would remain on the sidelines for now.

Whirlpool Corporation ( WHR ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

WHR

Other Topics

Stocks