Whirlpool profit beats expectations

Whirlpool Corp, the world's biggest appliance maker, reported higher-than expected fourth-quarter profit on Tuesday as strong international sales and savings from the Maytag acquisition offset a drop in U.S. demand.

The company, whose shares rose 6 percent in premarket trading, forecast 2008 earnings about in line with analysts' estimates and said industry shipments of major appliances could fall as much as 5 percent in the United States, its biggest market.

Quarterly profit rose 72 percent to $187 million, or $2.38 a share, from $109 million, or $1.37 a share, a year earlier. Analysts were expecting $2.15 a share, according to Reuters Estimates.

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- Posted: 2008-02-05 09:22:51

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