Whirlpool Q2 financials have been released on Wednesday, which apparently showed that the quarterly revenue of the company fell, except for its coverage in North America.
Whirlpool has long been known for supplying a variety of home appliances, such as refrigerators, dryers, and stoves among others. The manufacturer is behind brand names like Jenn-Air, Maytag, and KitchenAid. However, Whirlpool Q2 financials revealed that the company’s revenue fell down to $2.25 for every share, which totaled to a profit of $179 million. Compared to its last year’s quarterly returns, the loss has been eminent, especially now that its 2013’s Q2 financials revealed that it had $2.44 a share and $198 million profit.
The financials of the institution do not emphasize the fall of the company’s profit. Instead, it also indicated that the earnings per share of the company increased to $2.62, which is high to its $2.37 the year earlier. According to analysts, this may be due to ongoing cost productivity, improved product price and mix, as well as cost and capacity-reduction initiatives’ benefit. For the quarter, it is anticipated that the company will earn $2.91 per share for the cut up.
Whirlpool Q2 financials drop may be due to the pending takeover of Hefei Rongshida Sanyo Electric Co., Ltd.’s majority stake by the company. Other than that, even a majority stake in Indesit Company S.p.A.’s acquisition expenses may have also impacted the financials of the company. Due to the planned purchases, the company clearly had adjusted its 2014. Consequently, forecast of its full-year financials is projected to be $10.30 to $10.80 for every share, which is still lower compared to its prior year profit of $11.50 to $12.00.