Whirlpool (WHR) Misses Q3 EPS by $1.04, Lowers Guidance

Whirlpool (NYSE: WHR) reported Q3 EPS of $4.49, $1.04 worse than the analyst estimate of $5.53. Revenue for the quarter came in at $4.78 billion versus the consensus estimate of $5.2 billion.

GUIDANCE:

Whirlpool sees FY2022 EPS of $19.00, versus the consensus of $21.76. Whirlpool sees FY2022 revenue of $20.1 billion, versus the consensus of $20.59 billion.

• Expect full-year 2022 revenues of approximately $20.1 billion (down ~9 percent)
• Reduced earnings per diluted share from $9.50 to $11.50 to ~$5.00 on a GAAP basis and from $22.00 to $24.00 to ~$19.00 on an ongoing basis(2)
• Reduced cash provided by operating activities from $1.85 billion to $1.50 billion; reduced free cash flow(4) from $1.25 billion to $950 million
• Updated GAAP and adjusted (non-GAAP) tax rate from 34 to 36 percent to 31 to 33 percent and from 21 to 23 percent to 14 to 16 percent, respectively

For earnings history and earnings-related data on Whirlpool (WHR) click here.

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