Summary Box: Whirlpool loses money in 2nd quarter

AP News
|
Posted: Jul 21, 2011 7:16 AM
Summary Box: Whirlpool loses money in 2nd quarter

THE RESULTS: Whirlpool Corp. reported a second-quarter loss of $2.10 per share on revenue of $4.73 billion. Adjusted earnings were $2.76 per share. Analysts predicted earnings of $2.73 per share on revenue of $4.74 billion.

COST HEADACHE: The appliance maker said Thursday that it is being pressured by higher material and oil-related costs. The company is not alone, as rival Electrolux AB said Tuesday that its quarterly results were hurt by increased raw material costs.

OUTLOOK: Whirlpool now expects full-year earnings at the low end of its $12 to $13 per share range. Analysts expect earnings of $11.82 per share.