Published on July 25th, 2016 | by The GC Team0
Whirlpool increases second-quarter earnings
Whirlpool Corporation has posted second-quarter earnings of $320 million, up from $177 million in the same period last year.
Operating profit rose from $273 million to $366 million on sales of $5.2 billion.
“We delivered another quarter of record earnings and margin expansion while overcoming challenges in several key countries through focused execution of our plans,” said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation.
“Our leading portfolio of brands, innovative new products and strong ongoing cost productivity programmes have enabled us to continue creating significant value for our shareholders.”
Based on a strong first-half performance, the company said it is raising its full-year earnings per share guidance range to $11.50 to $12.00 on a GAAP basis, and to $14.25 to $14.75 on an ongoing basis.