ICS Magazine

Whirlpool second-quarter earnings fall

August 1, 2001
BENTON HARBOR, Mich.-- Whirlpool Corp. recently announced that its second-quarter core earnings fell 22% as spending on major appliances around the globe remained soft.

The Benton Harbor, Michigan-based company reported second-quarter earnings of $88 million, or $1.30 per share, compared with $121 million, or $1.66 per share, a year ago. Reported net earnings were $53 million, or 78 cents per diluted share.

Net sales of $2.6 billion were level with the prior year quarter and up 4 percent absent currency translations.

Whirlpool said it expects sequential improvement in third and fourth quarter core earnings and full-year core earnings per share growth of 10 to 15 percent.