White goods giant Whirlpool Corp. (WHR: Quote) said Tuesday that it will reaffirm its fiscal 2013 outlook during its presentations at two investor conferences in March.
The Benton Harbor, Michigan-based company will participate in the Bank of America Merrill Lynch 2013 Consumer & Retail Conference in New York on Wednesday, March 13, and in the 3rd Annual International Strategy & Investment Group or ISI Retail Summit in Arizona on Wednesday, March 20.
Jeff Fettig, chairman and chief executive officer of Whirlpool, will present for the company at the Bank of America Merrill Lynch conference, while Larry Venturelli, executive vice president and chief financial officer will be presenting for the company at the ISI Retail Summit.
While reporting its financial results for the fourth quarter in late January, Whirlpool forecast fiscal 2013 earnings of $9.80 to $10.30 per share and adjusted earnings of $9.25 to $9.75 per share. The adjusted earnings outlook excludes restructuring charges, Brazilian tax credits and U.S. energy tax credits.
On average, six analysts polled by Thomson Reuters expect the company to earn $9.62 per share for the year. Analysts’ estimates typically exclude special items.
In late January, Whirlpool reported a 40 percent decline in profit for the fourth quarter from last year, when results included a tax benefit.
The company’s net earnings for the fourth quarter declined to $122 million or $1.52 per share from $205 million or $2.62 per share in the previous-year quarter. The prior year results included $2.17 per share of benefits from tax credits. Net sales for the quarter declined 2 percent to $4.79 billion from $4.91 billion in the prior-year period.
In Tuesday’s regular session, WHR is trading at $119.28, down $0.01 or 0.01 percent on a volume of 5,908 shares.
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by RTT Staff Writer
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