Whirlpool (WHR) Beats Estimates, Raises Forecast

Whirlpool Corporation WHR released financial results on Tuesday morning that easily surpassed Wall Street estimates. Whirlpool Corporation (WHR) reported that its 2nd quarter net income more than doubled to $205 million, or $2.64 per share, up from $78 million, or $1.04 per share, a year earlier. Excluding special items, earnings were $2.82 per share, while revenue climbed 8.8% to $4.53 billion. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of $2.13 per share, on revenue of $4.48 billion. The company raised its full year earnings forecast to a range of $9.00 to $9.50 per share, up from the previous forecast of $8.00 to $8.50 per share. Shares of WHR rose 1.05% to $91.36 on Monday, before falling 1.60% to $89.90 during after hours trading. Analysts covering the stock have a consensus price target of $130.33 per share. 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.