The 10-second takeaway
For the quarter ended March 31 (Q1), Whirlpool met expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly and GAAP earnings per share dropped significantly.
Gross margins improved, operating margins grew, net margins dropped.
Whirlpool booked revenue of $4.35 billion. The four analysts polled by S&P Capital IQ foresaw revenue of $4.37 billion on the same basis. GAAP reported sales were 1.2% lower than the prior-year quarter's $4.40 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $1.41. The six earnings estimates compiled by S&P Capital IQ predicted $1.12 per share on the same basis. GAAP EPS of $1.17 for Q1 were 46% lower than the prior-year quarter's $2.17 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 15.0%, 80 basis points better than the prior-year quarter. Operating margin was 5.5%, 10 basis points better than the prior-year quarter. Net margin was 2.1%, 170 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $4.70 billion. On the bottom line, the average EPS estimate is $1.53.
Next year's average estimate for revenue is $18.76 billion. The average EPS estimate is $5.92.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 357 members out of 440 rating the stock outperform, and 83 members rating it underperform. Among 108 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 99 give Whirlpool a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Whirlpool is hold, with an average price target of $72.75.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.