Whirlpool Q4 Profit Declines; Backs FY15 EPS Outlook - Quick Facts

(RTTNews) - Whirlpool Corp. (WHR) reported fourth-quarter GAAP net earnings available to the company of $81 million or $1.02 per share, compared to $181 million, or $2.26 per share in the same prior-year period.

Ongoing business earnings per share increased to $3.52, from $2.97 in the prior-year period, mainly driven by revenue growth, ongoing cost productivity and the benefit of cost and capacity-reduction initiatives and the impact of the acquisitions. Analysts polled by Thomson Reuters expected the company to report earnings of $3.19 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the latest fourth quarter rose 18% to $6.00 billion from $5.09 billion in the comparable quarter last year. Excluding the impact of both foreign currency and Brazilian (BEFIEX) tax credits, sales increased approximately 22 percent. Wall Street expected revenues of $5.82 billion.

Looking further ahead to fiscal 2015, Whirlpool continues to expect net earnings in a range of $10.75 to $11.75 per share and ongoing business earnings in the range of $14.00 to $15.00 per share. Street is currently looking for full-year 2015 earnings of $14.39 per share.