Whirlpool Shares Plunge 5% After Strong Results (WHR)

Despite the fact that it announced earnings results that far exceeded Wall Street estimates, solid revenue results that beat estimates and raised its full year earnings forecast, Whirlpool Corporation WHR has seen its stock plummet nearly 5% to $87.06 per share. Analysts covering WHR have a consensus price target of $130.33 per share. Before the market opened, Whirlpool Corporation reported earnings of $2.82 per share, excluding special items, along with strong revenue growth of 8.8% to $4.53 billion in revenue. Analysts were expecting earnings of $2.13 per share, on revenue of $4.48 billion. Whirlpool Corporation also raised its full year earnings forecast to a range of between $9.00 and $9.50 per share, up from its previous forecast of between $8.00 and $8.50 per share. The fall in stock price may be due to investors feeling that despite the stellar results, some of the company's commentary during the conference call seemed rather cautious. Benton Harbor, Michigan based Whirlpool Corporation designs, manufactures and sells home appliances. The company's primary products are refrigerators, laundry machines, cooking appliances, dishwashers and other household appliances that it sells throughout the world. Read more from Benzinga's Company news.