Whirlpool Corp.
on Wednesday said its second-quarter profit fell 9.6%, as the appliance
maker's international operations experienced weak sales.
The results missed analysts' expectations by a wide margin.
Whirlpool also cut its full-year adjusted earnings outlook to reflect
inventory transitions in China related to the company's pending deal to
buy a majority stake in Hefei Rongshida Sanyo Electric Co. as well as
expenses linked to its pending deal to buy the majority of Italy's
Indesit Co. SpA.
The company now expects full-year adjusted earnings of $11.50 to $12.00 a
share, down from a previous range of $12.00 to $12.50 a share.
Still, the company said it is bullish on its near-term prospects.
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