The 10-second takeaway
For the quarter ended March 31 (Q1), Whirlpool missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly. Non-GAAP earnings per share grew significantly. GAAP earnings per share increased significantly.
Margins expanded across the board.
Whirlpool reported revenue of $4.25 billion. The four analysts polled by S&P Capital IQ hoped for revenue of $4.39 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.97. The six earnings estimates compiled by S&P Capital IQ predicted $1.96 per share. Non-GAAP EPS of $1.97 for Q1 were 40% higher than the prior-year quarter's $1.41 per share. GAAP EPS of $3.12 for Q1 were 167% higher than the prior-year quarter's $1.17 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 17.1%, 210 basis points better than the prior-year quarter. Operating margin was 7.0%, 150 basis points better than the prior-year quarter. Net margin was 5.9%, 380 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $4.67 billion. On the bottom line, the average EPS estimate is $2.17.
Next year's average estimate for revenue is $18.76 billion. The average EPS estimate is $9.62.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 335 members out of 418 rating the stock outperform, and 83 members rating it underperform. Among 114 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 104 give Whirlpool a green thumbs-up, and 10 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Whirlpool is outperform, with an average price target of $126.00.
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