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Whirlpool slumps after guidance cut

Published 10/23/2017, 04:39 PM
© Reuters.  Whirlpool slumps after guidance cut
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  • Whirlpool (NYSE:WHR) slumps after lowering full-year guidance on the heels of a Q3 profit shortfall.
  • The company now expects FY17 EPS of $13.60 to $13.90 vs. $14.50 to $15.00 prior and $14.62 consensus.
  • Whirlpool management says margins are under pressure due to ongoing raw material inflation and an unfavorable product sales mix. Global cost-based prices increases are being pushed to Whirlpool customers in Q4 and Q1 of 2018.
  • "We reaffirm our 2020 goals and are confident that our existing and newly-announced actions will put us firmly back on track to deliver our commitments," notes Whirlpool CFO Jim Peter.
  • WHR -7.39% AH to $169.02.
  • Now read: iRobot: What's A Long To Do?

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