Maytag second-quarter earnings plunge
The Newton, Iowa-based company reported second-quarter earnings of $25.5 million, or 32 cents per share before the accounting change, compared with $75.7 million, or 92 cents per share, a year ago.
Revenues fell 3.2% to $1.07 billion. Net income including the accounting change was $21.8 million.
Maytag cut its second-quarter earnings forecast by 25 percent in June, citing lower sales for its Hoover vacuum cleaners.