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Wednesday, July 23, 2014

Whirlpool posts lower profit, cuts outlook on acquisition expenses, (NYSE: WHR)

Whirlpool Corp on Wednesday reported a lower quarterly profit as sales fell in every region except North America. The company also cut its full-year earnings outlook, citing expenses from two pending acquisitions. The world's largest maker of home appliances posted a second-quarter profit of $179 million, or $2.25 a share, down from $198 million, or $2.44 a share, a year earlier.Whirlpool, which sells its washers and dryers, stoves, and refrigerators under a variety of brand names including Whirlpool, Maytag, KitchenAid and Jenn-Air, said it had sold $4.7 billion in goods during the quarter, unchanged from a year earlier.The Benton Harbor, Michigan-based company said sales gains in North America were offset by weakness in the rest of the world, including Latin America, Europe and Asia.Whirlpool said it now expected to report full-year net earnings of $10.30 to $10.80 a share, down from a previous forecast range of $11.50 to $12.00.

Whirlpool Corporation (Whirlpool) is a manufacturer and marketer of home appliances. Shares of WHR traded higher by 2.03% or $2.85/share to $143.20. In the past year, the shares have traded as low as $124.39 and as high as $160.01. On average, 989506 shares of WHR exchange hands on a given day and today's volume is recorded at 1536841.