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Earnings Results

Oct. 22, 2021, 8:23 a.m. EDT

Whirlpool misses on Q3 sales as it faces ‘elevated supply constraints’

Claudia Assis

Shares of Whirlpool Corp. fell more than 4% late Thursday after the appliances maker reported mixed third-quarter results, with sales coming below Wall Street expectations amid “elevated” supply constraints.

Whirlpool (NYS:WHR) said it earned $471 million, or $7.51 a share, in the quarter, compared with $392 million, or $6.19 a share, in the year-ago period.

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Adjusted for one-time items, the company earned $6.68 a share.

Revenue rose to $5.5 billion from $5.3 billion a year ago thanks to a “strong consumer demand environment,” Whirlpool said in a statement. “Elevated supply constraints” remain, however.

Analysts polled by FactSet expected the company to report adjusted earnings of $6.14 a share on sales of $5.7 billion.

Whirlpool increased its full-year 2021 per-share earnings guidance to about $27.80, and about $26.25, adjusted. The analysts surveyed by FactSet are looking for adjusted EPS of $26.36 for the year.

Shares of Whirlpool have gained about 15% this year, compared with gains of around 21% for the S&P 500 index (S&P:SPX) .

Link to MarketWatch's Slice.