Shares of Whirlpool Corp. dropped 4.3% in thin premarket trade on Tuesday after the appliance maker reported a surprise drop in revenue and warned of softness ahead. For the third quarter, the company reported a profit of $238 million, or $3.10 a share, up from $235 million, or $2.95 a share, in the year-ago period. On an adjusted basis, profit came in at $3.66 a share. Sales slipped to $5.25 billion from $5.28 billion in the same quarter last year. Analysts polled by FactSet expected earnings of $3.86 a share on revenue of $5.32 billion. For the full year, the company said it now expects earnings of $11.50 to $11.75 a share, compared with the $11.50 to $12.00 a share it predicted in its second-quarter statement. “These changes are primarily related to demand softness in the U.S. and the U.K., along with the continued devaluation of the British pound,” Whirlpool said.
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