BENTON HARBOR, Mich., Feb. 25 /PRNewswire-FirstCall/ — Whirlpool Corporation (NYSE: WHR – News) today reiterated its 2004 full-year earnings guidance of $6.20 to $6.35 per share. As previously disclosed, the earnings guidance includes the company’s planned and currently projected expenses for raw materials.
Whirlpool issued the announcement to address potential concerns in the financial markets over the recent reports of significant increases in U.S. steel prices and raw materials, and the earnings implications from these price increases for manufacturers relying on these materials.
As the leading U.S. manufacturer of major home appliances, Whirlpool executes a procurement strategy focused on extended supply commitments. This strategy, combined with Whirlpool’s proven efforts to improve total cost productivity, will allow the company to avoid any negative swings in the total manufacturing cost of its products.
The raw material expenses currently forecast for 2004, as well as the company’s planned productivity activities, are included in the Whirlpool’s previously announced full-year earnings guidance.