July 23 Whirlpool Corp on Wednesday
reported a lower quarterly profit as sales fell in every region
except North America. The company also cut its full-year
earnings outlook, citing expenses from two pending acquisitions.
The world's largest maker of home appliances posted a
second-quarter profit of $179 million, or $2.25 a share, down
from $198 million, or $2.44 a share, a year earlier.
Whirlpool, which sells its washers and dryers, stoves, and
refrigerators under a variety of brand names including
Whirlpool, Maytag, KitchenAid and Jenn-Air, said it had sold
$4.7 billion in goods during the quarter, unchanged from a year
The Benton Harbor, Michigan-based company said sales gains
in North America were offset by weakness in the rest of the
world, including Latin America, Europe and Asia.
Whirlpool said it now expected to report full-year net
earnings of $10.30 to $10.80 a share, down from a previous
forecast range of $11.50 to $12.00.
The company said the outlook cut reflected costs associated
with its pending acquisitions of majority stakes in Hefei
Rongshida Sanyo Electric Co Ltd and Indesit
(Reporting by James B. Kelleher in Chicago; Editing by Lisa Von