Whirlpool results miss Wall Street estimates

Written on July 21, 2011 by Editor - Finance Top Stories


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NEW YORK (Reuters) – Whirlpool Corp (NYSE:WHR – News), the world’s largest appliance maker, posted a weaker-than-expected quarterly results, hurt by rising costs and weak consumer demand in North America, its largest market.

The maker of Maytag and KitchenAid appliances said its second-quarter net loss was $161 million, or $2.10 a share, compared with year-earlier net earnings of $205 million, or $2.64 a share.

Excluding items, it earned $2.76 a share, missing the analysts’ average estimate of $2.83, according to Thomson Reuters I/B/E/S.

Sales rose 4 percent to $4.73 billion, but missed the analysts’

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