Home appliances manufacturer Whirlpool (NYSE: WHR) will be reporting results this Monday after market hours. Here’s what to look for.
Whirlpool missed analysts’ revenue expectations last quarter, reporting revenues of $3.27 billion, down 9.6% year on year. It was a disappointing quarter for the company, with full-year EPS guidance missing analysts’ expectations significantly and a significant miss of analysts’ EPS estimates.
Is Whirlpool a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Whirlpool’s revenue to decline 5.7% year on year, in line with the 5.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Whirlpool has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Whirlpool’s peers in the electrical systems segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Allegion delivered year-on-year revenue growth of 12.7%, beating analysts’ expectations by 3.1%, and Garrett Motion reported revenues up 6.9%, topping estimates by 3.3%. Allegion traded up 9.6% following the results while Garrett Motion was also up 3.6%.
Read our full analysis of Allegion’s results here and Garrett Motion’s results here.
In the last twelve months or so, the market has shifted its attention from one area of macro importance to the next (AI disintermediation and AI capex spending to geopolitical conflict, rates, and whether the economy is on solid footing or not). While some of the electrical systems stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5% on average over the last month. Whirlpool is down 1.6% during the same time and is heading into earnings with an average analyst price target of $52.55 (compared to the current share price of $37.33).
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