Appliance maker Whirlpool Corp. on Wednesday said quarterly profit rose on higher sales and improvements in some global markets.
The Benton Harbor, Michigan, maker of KitchenAid and Whirlpool appliances had second-quarter net income of $106 million, or $1.53 a diluted share, compared with $94 million, or $1.35 a share, a year earlier.
Analysts on average were expecting profit of $1.49 a share, according to Reuters Estimates.
From Reuters
We sorta saw this one coming as tariffs on steel were announced by a certain US president but Whirlpool’s problems seem a perfect storm of bad fortunes, literally.
Former executives from Japanese company Panasonic and Brazilian subsidiaries of Whirlpool and Tecumseh were indicted Tuesday on charges of price-fixing, the US Justice Department have said.
Whirlpool has been placed in the media spotlight in the USA due to Kitchen Aid dishwasher models have been seen to go on fire with owners launching a class action.