Mackenzie Tatananni
Whirlpool stock fell in premarket trading Thursday after the home-appliance company posted a mixed fourth-quarter report and provided weak guidance.
Shares of Whirlpool tumbled 11% to $116 in early trading. The company reported a fourth-quarter loss of $393 million, or $7.10 a share, on sales of $4.14 billion.
Based on continuing operations, Whirlpool earned $4.57 a share, which topped Wall Street's call for $4.34. Sales missed the $4.24 billion consensus estimate, according to FactSet.
For the year, Whirlpool's earnings from continuing operations were $12.21 a share on sales of $16.6 billion, compared with estimates of $12.08 a share on sales of $16.7 billion.
Continuing operations exclude a divestiture in Europe. On April 1, 2024, Whirlpool completed a transaction with Turkish manufacturer Arcelik to create a new appliance company called Beko Europe B.V., of which Whirlpool owns 25%.
For 2025, the company said it anticipates earnings per share from continuing operations of $10 on sales of about $15.8 billion. Analysts had expected adjusted earnings per share of $11.46 on sales of $16.1 billion.
CEO Marc Bitzer said in the earnings release that Whirlpool expects to deliver more than $200 million of cost cuts in 2025 and position itself for the "eventual U.S. housing recovery."
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
January 30, 2025 09:17 ET (14:17 GMT)
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