Whirlpool (WHR, Financial) saw its stock price jump more than 7% to $106.245. The increase came after the company announced its third-quarter earnings results. The net sales were reported at $3.99 billion, a decline of 19% compared to the previous year, and below market expectations of $4.09 billion. Despite the drop in sales, Whirlpool achieved a net profit of $109 million, up 31.3% year-over-year, due to cost reduction strategies, including layoffs.
Earnings per share adjusted came in at $3.43, exceeding market expectations of $3.22. For the full year, Whirlpool maintained its revenue guidance at $16.9 billion and confirmed its earnings per share outlook of $12, aligning with market forecasts of $16.78 billion in revenue and $11.51 in earnings per share.
