Whirlpool (NYSE:WHR) Posts Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Whirlpool (NYSE:WHR) issued its quarterly earnings results on Wednesday. The company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.44, Briefing.com reports. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.09 billion. Whirlpool had a net margin of 2.89% and a return on equity of 27.67%. The business’s quarterly revenue was down 18.9% on a year-over-year basis. During the same period last year, the business earned $5.45 EPS. Whirlpool updated its FY24 guidance to approx $12.00 EPS and its FY 2024 guidance to 12.000-12.000 EPS.

Whirlpool Price Performance

NYSE:WHR opened at $110.34 on Friday. Whirlpool has a 1-year low of $84.18 and a 1-year high of $127.58. The company has a current ratio of 0.96, a quick ratio of 0.58 and a debt-to-equity ratio of 1.88. The firm has a fifty day simple moving average of $101.86 and a 200 day simple moving average of $98.97. The stock has a market capitalization of $6.06 billion, a PE ratio of 11.41 and a beta of 1.44.

Whirlpool Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Friday, November 15th will be paid a $1.75 dividend. The ex-dividend date is Friday, November 15th. This represents a $7.00 annualized dividend and a dividend yield of 6.34%. Whirlpool’s dividend payout ratio is presently 72.39%.

Wall Street Analyst Weigh In

WHR has been the subject of several research reports. Bank of America initiated coverage on shares of Whirlpool in a research note on Tuesday, July 30th. They set an “underperform” rating and a $88.00 price target for the company. Royal Bank of Canada decreased their price target on shares of Whirlpool from $79.00 to $76.00 and set an “underperform” rating for the company in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $103.75.

Insider Activity at Whirlpool

In other Whirlpool news, EVP Juan Carlos Puente sold 3,266 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $100.00, for a total transaction of $326,600.00. Following the completion of the sale, the executive vice president now owns 19,070 shares of the company’s stock, valued at $1,907,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.05% of the stock is owned by company insiders.

Whirlpool Company Profile

Whirlpool Corporation manufactures and markets home appliances and related products and services in the North America, Europe, the Middle East, Africa, Latin America, and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances, and commercial laundry products and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers.