Whirlpool's Maytag Buy Pays Off in 4Q
posted 7:03 am Tue February 05, 2008 - BENTON HARBOR, Mich.
Whirlpool Corp. said Tuesday its fourth-quarter profit climbed 72 percent, helped by its Maytag acquisition and an improved product mix and the weak dollar.The appliance maker, which bought Maytag in 2006, said earnings after preferred dividends increased to $187 million, or $2.38 per share, compared with $109 million, or $1.37 per share, in the prior year. Quarterly revenue grew 7 percent to $5.33 billion from $5 billion a year earlier.
Analysts polled by Thomson Financial expected net income of $2.15 per share on sales of $5.27 billion.
Whirlpool North America sales slipped less than 1 percent to $3 billion, while sales in its European segment rose 12 percent to $1.1 billion. Latin America sales surged about 30 percent to more than $1 billion. Whirlpool Asia sales grew 26 percent to $155 million.
The company anticipates 2008 net income between $8.50 and $9 per share.
Analysts predict a profit of $8.81 per share.
Analysts polled by Thomson Financial expected net income of $2.15 per share on sales of $5.27 billion.
Whirlpool North America sales slipped less than 1 percent to $3 billion, while sales in its European segment rose 12 percent to $1.1 billion. Latin America sales surged about 30 percent to more than $1 billion. Whirlpool Asia sales grew 26 percent to $155 million.The company anticipates 2008 net income between $8.50 and $9 per share.
Analysts predict a profit of $8.81 per share.
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