Whirlpool to report 3rd-quarter results

AP News
Posted: Oct 15, 2010 3:22 PM
Whirlpool to report 3rd-quarter results

NEW YORK (AP) _ Whirlpool Corp., the world's biggest appliance maker, will report its third-quarter results later this month.

WHAT TO WATCH FOR: With the economy still uncertain, investors will be keeping a close eye on Whirlpool's sales. Any indication that shoppers are snapping up expensive appliances such as washers and dryers would be good news for Whirlpool.

In the second quarter, the company benefited as consumers made purchases in order to take advantage of federal rebates for energy-efficient appliances.

WHY IT MATTERS: Whirlpool's sales are closely linked to consumer sentiment and the housing sector, which sheds light on feelings about the overall economy. If more people are buying big-ticket items from the Benton Harbor, Mich., company, it means they are more confident in their spending and feeling better about economic conditions.

WHAT'S EXPECTED: Analysts surveyed by Thomson Reuters anticipate net income of $2.23 per share on revenue of $4.5 billion. The company will report results on Wednesday, Oct. 27.

LAST YEAR'S QUARTER: Whirlpool, whose other brands include Maytag and KitchenAid, reported earnings of $87 million, or $1.15 per share, on revenue of $4.5 billion during the same period a year ago.