NEW YORK — Whirlpool's third-quarter net income climbed 17 percent, buoyed in part by healthy sales in North America.
But the appliance maker's adjusted profit missed analysts' expectations. Its shares declined in Tuesday premarket trading.
Whirlpool Corp. — whose brands include Maytag, KitchenAid and its namesake — earned $230 million, or $2.88 per share, for the three months ended Sept. 30. A year earlier it earned $196 million, or $2.42 per share.
Stripping out certain items, earnings were $3.04 per share.
The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $3.15 per share.
Shares of Whirlpool fell $5.62, or 3.5 percent, to $153 before the market open.
Revenue rose 3 percent to $4.82 billion from $4.68 billion. Analysts predicted $4.79 billion in revenue, according to Zacks.
Sales in North America increased 6 percent to $2.8 billion. Sales also climbed in Europe, the Middle East and Africa, while Latin America reported flat sales. Sales declined in Asia.
The Benton Harbor, Michigan, company reiterated its forecast for full-year adjusted earnings between $11.50 and $12. Analysts surveyed by FactSet expect earnings of $11.62 per share.
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