Stock Story -
Home appliances manufacturer Whirlpool (NYSE:WHR) will be announcing earnings results tomorrow after the bell. Here's what investors should know.
Whirlpool beat analysts' revenue expectations by 1.7% last quarter, reporting revenues of $4.49 billion, down 3.4% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' volume estimates and a decent beat of analysts' earnings estimates.
Is Whirlpool a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Whirlpool's revenue to decline 17.6% year on year to $3.95 billion, a further deceleration from the 6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.37 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Whirlpool has missed Wall Street's revenue estimates three times over the last two years.
Looking at Whirlpool's peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Acuity Brands's revenues decreased 3.2% year on year, missing analysts' expectations by 2.9%, and Badger Meter reported revenues up 23.2%, topping estimates by 6.5%. Acuity Brands's stock price was unchanged after the resultswhile Badger Meter was up 3.7%.
Read the full analysis of Acuity Brands's and Badger Meter's results on StockStory.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 6.5% on average over the last month. Whirlpool is up 16.2% during the same time and is heading into earnings with an average analyst price target of $112.2 (compared to the current share price of $106.7).
