Whirlpool (NYSE:WHR) Issues FY 2024 Earnings Guidance

Whirlpool (NYSE:WHR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 12.000-12.000 for the period, compared to the consensus earnings per share estimate of 11.620. The company issued revenue guidance of $16.9 billion-, compared to the consensus revenue estimate of $16.8 billion. Whirlpool also updated its FY24 guidance to approx $12.00 EPS.

Whirlpool Price Performance

WHR stock traded down $3.01 during midday trading on Wednesday, reaching $99.28. 1,425,186 shares of the stock were exchanged, compared to its average volume of 1,190,877. The company has a fifty day moving average price of $101.47 and a 200 day moving average price of $98.88. Whirlpool has a 52 week low of $84.18 and a 52 week high of $129.30. The stock has a market capitalization of $5.45 billion, a PE ratio of 10.56 and a beta of 1.44. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.96 and a quick ratio of 0.58.

Whirlpool (NYSE:WHR) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.39 EPS for the quarter, meeting analysts’ consensus estimates of $2.39. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Whirlpool had a net margin of 2.89% and a return on equity of 27.67%. The business’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.21 earnings per share. As a group, analysts expect that Whirlpool will post 11.24 EPS for the current fiscal year.

Whirlpool Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Friday, November 15th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 7.05%. The ex-dividend date of this dividend is Friday, November 15th. Whirlpool’s dividend payout ratio (DPR) is presently 72.39%.

Analyst Ratings Changes

Several brokerages have commented on WHR. Royal Bank of Canada lowered their price objective on shares of Whirlpool from $79.00 to $76.00 and set an “underperform” rating on the stock in a research report on Friday, July 26th. Bank of America initiated coverage on Whirlpool in a research note on Tuesday, July 30th. They set an “underperform” rating and a $88.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $103.75.

Insider Activity

In related news, EVP Juan Carlos Puente sold 3,266 shares of Whirlpool stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $100.00, for a total value of $326,600.00. Following the completion of the sale, the executive vice president now owns 19,070 shares of the company’s stock, valued at $1,907,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.05% of the company’s stock.

About Whirlpool

Whirlpool Corporation manufactures and markets home appliances and related products and services in the North America, Europe, the Middle East, Africa, Latin America, and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances, and commercial laundry products and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers.