WHR Stock Recent News

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Whirlpool Corp. WHR, +1.20% said Thursday it's planning to enter one or more transactions to sell up to 24% of its stake in Whirlpool of India Ltd. in 2024. The appliance maker currently holds a 75% stake in the India unit via a wholly owned subsidiary and is planning to retain a majority interest in the company once the transactions are completed.

As the third quarter 2023 earnings season ends, it's worth looking back to see which stocks may have been overlooked or mispriced on their results. Regardless of sector or industry, every earnings season has its share of misfits and heroes.

Whirlpool's shares have been under pressure due to a tough 2022 and continued uncertainty surrounding the divestment of its European activities. The company's financial performance has been affected by divestments, high leverage, and lack of profitability in certain regions. The closing of the European deal is crucial for reducing leverage and improving earnings, but further delays could negatively impact the business.

Latest Q3 results had sales growth of 3% driven by market share gains and replacement and builder demand in North America, but management lowered guidance on full year earnings. Whirlpool now trades at 6.4x forward P/E given management's new guidance of $16.00 for adjusted non-GAAP EPS. Lower revised guidance for GAAP and ongoing EPS of approximately $9.00 and $16.00, respectively, with $500 million in free cash flow.

Whirlpool's latest quarterly results beat Wall Street's expectations. The company's profit margins are taking a hit, and the market isn't buying management's talk of a rebound.

Whirlpool easily beat expectations for third-quarter revenue and earnings. But the appliance maker also reduced its full-year earnings guidance amid weak demand across Europe and Asia.

Whirlpool's (WHR) Q3 results reflect gains from cost takeout actions, strong demand and market share growth. Results also reflect the impacts of an adverse price/mix.

Whirlpool (WHR) shares fell after the appliance maker cut full-year guidance despite beating third quarter estimates. CEO, Marc Bitzer, tells Yahoo Finance while there is still replacement demand, the decline in discretionary consumer spending is bound to "hurt" the company.

The headline numbers for Whirlpool (WHR) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.