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Whirlpool reports modest growth in Q1 2017

BY Friday, April 28, 2017 01:15pm

BENTON HARBOR — Whirlpool Corp. grew sales modestly in the first quarter of 2017.

The Benton Harbor-based appliance manufacturer generated $4.8 billion in sales in the quarter ending March 31, a slight increase compared to the $4.6 billion it reported in the same quarter the previous year.

At the same time, Whirlpool (NYSE: WHR) also modestly increased net earnings in the quarter to $153 million, or $2.01 per share, compared to the $150 million, or $1.92 per diluted share it reported in the same quarter the previous year.

For its full fiscal year, Whirlpool expects to generate net earnings between $12.65 per share and $13.40 per share, according to updated guidance issued by the company. Whirlpool reported net earnings of $11.50 per share for its 2016 fiscal year.

“We made progress toward our goals of revenue growth and free cash flow generation, with strong growth and margin expansion in North America and Latin America,” Chairman and CEO Jeff Fettig said in a statement. “As we continue to execute our plans and work through the elevated complexity of our European integration, we remain confident in our ability to deliver both $1 billion of free cash flow and record earnings per share in 2017.”

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