WASHINGTON (dpa-AFX) - Shares of Whirlpool Corp. (WHR) gained 8% in extended trading hours Monday after the home appliance manufacturer's first-quarter profit trumped Wall Street estimates.
First-quarter profit surged to $471 million or $7.31 per share from $94 million or $1.30 per share last year. First-quarter ongoing earnings were $3.11 per share, up from $2.81 per share last year. On average, 8 analysts polled by Thomson Reuters estimate earnings of $2.87 per share for the quarter. Analysts estimates typically exclude one-time items.
Sales for the quarter dropped to $4.76 billion from $4.91 billion last year. Analysts had a consensus revenue estimate of $4.85 billion for the quarter.
Benton Harbor, Michigan based Whirlpool now expects full year 2019 ongoing earnings of $14.00 to $15.00 per share. Analysts currently estimate earnings of $14.56 per share.
WHR closed Monday's trading at 139.36, up $0.30 or 0.22%, on the NYSE. The stock further gained 10.70 or 7.68% in the after hours.
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