Published on July 28th, 2017 | by The GC Team0
Whirlpool reports earnings fall and lowers full-year guidance
Whirlpool Corporation has reported second-quarter GAAP net earnings of $189 million for the second quarter of 2017, compared to $320 million for the same prior-year period.
Net sales rose to $5.3 billion ($5.2 billion).
GAAP operating profit for the quarter totalled $274 million, compared to $368 million in Q2 2016.
The company revised its full-year earnings per diluted share guidance to a range of $12.40 to $12.90 on a GAAP basis and $14.50 to $15.00 on an ongoing basis, below its previous guidance of $14.75 to $15.50, stating that the move was driven by increased raw material inflation and lower product price/mix in China and Europe.