Shop For Domestic Appliance Spare Parts

Buy spare parts in our store from our team of spares experts that have a vast knowledge of the domestic appliance industry and will help you find any part you need and get it to you as fast and cheap as possible

  Use this link to email us, tell us what you need and we'll do all the work for you
shop spare parts

Whirlpool reports 5% dip in profit

User Rating: 0 / 5

Star inactiveStar inactiveStar inactiveStar inactiveStar inactive
 

Whirlpool Corp. said Tuesday its second-quarter earnings fell 5% but beat Wall Street expectations following the purchase of Maytag Corp.

The Benton Harbor-based appliance maker said net income for the second quarter ended June 30 dropped to $91 million, or $1.14 a share, compared with $96 million, or $1.42 a share, in the same period a year ago.

Excluding a one-time loss of $9 million for discontinued operations related to the company's plan to buy several businesses including Hoover, operating income for Whirlpool totaled $100 million, or $1.26 a share.

Whirlpool, the nation's largest maker of refrigerators, washing machines and ranges with such brand names as KitchenAid, Roper and Amana, said revenue for the three-month period rose 33% to $4.73 billion, compared with $3.56 billion in the same period last year.

A consensus estimate of Wall Street analysts projected that Whirlpool would report profits of $1.04 a share on revenue of $5 billion, a survey by Thomson Financial found.

Whirlpool stock rose 96 cents, or 1.2%, to close at $78.85 a share Tuesday on the New York Stock Exchange.

Whirlpool's second-quarter profits included the results from the company's purchase of Newton, Iowa-based Maytag for $2.5 billion in cash, stock and assumed debt completed March 31.

"We are pleased with our second-quarter financial results, as well as the rapid progress made in integrating the Maytag business," Whirlpool Chairman and Chief Executive Jeff Fettig said in a statement. "All of our regional business delivered higher unit volume, sales and operating profit performance during the quarter."

But Fettig added that expected higher material and petroleum-related costs for the second half of the year likely will result in higher product costs.

"The company is implementing cost-based price adjustments, productivity initiatives and cost controls to offset the heightened cost environment."

From Detroit Free press

2000 Characters left


  Get Parts

Get the  spare parts you need in our store at low discounted prices.

shop spare parts

  Parts Email

Looking for a part you need? Just drop us a mail and we'll find it for you fast.

Or call us on
01563 557156

Find a washing machine repair technician
  Get It Repaired

Time to call in the professional repairman? Contact repair companies directly and save on repair costs with our free search

Find a local approved service technicians to repair your appliance

free appliance diagnostic help
  Self Repair Help

Stuck with an appliance fault or problem and need technical or fault diagnostic help? Just use our totally free to use forums for diagnostic help from appliance repair technicians.

Use our forums to get free help and assistance directly from appliance experts in our forums