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Whirlpool (WHR) Tops Q3 Earnings, Revenues Miss Estimates

Whirlpool Corp.WHR , the largest home-appliances manufacturer in the world, came out with its third-quarter 2015 results, wherein earnings from ongoing business of $3.45 a share jumped 13.5% from $3.04 a share earned in the year-ago quarter and surpassed the Zacks Consensus Estimate of $3.22.

The bottom line gained strength from cost and capacity-curtailment measures, gains from acquisitions and favorable mix, partly offset by unfavorable currency fluctuations.

Following the results, Whirlpool revised its full year 2015 GAAP earnings forecast to $9.75- $10.25 per share, while earnings from ongoing business is now envisioned in a band of $12.00 - $12.50 per share.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2015 has been trending downwards over the last 30 days. However, if we look at Whirlpool's performance in the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 1.3%.

Revenues: Whirlpool's net sales advanced 9.4% year over year to $5,277 million, though it missed the Zacks Consensus Estimate of $5,320 million. On a currency-neutral basis, sales soared about 25%.

Zacks Rank: Currently, Whirlpool carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.

Check back later for our full write up on Whirlpool's earnings report!

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


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

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