Home appliances manufacturer Whirlpool (NYSE: WHR) will be reporting results this Wednesday after market close. Here’s what investors should know.
Whirlpool missed analysts’ revenue expectations last quarter, reporting revenues of $4.10 billion, flat year on year. It was a softer quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EBITDA estimates.
Is Whirlpool a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Whirlpool’s revenue to decline 5.5% year on year, improving from the 19.4% decrease it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing in majority downward revisions over the last 30 days. Whirlpool has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Whirlpool’s peers in the electrical systems segment, some have already reported their Q1 results, giving us a hint as to what we can expect. LSI delivered year-on-year revenue growth of 13.6%, beating analysts’ expectations by 9%, and Garrett Motion reported revenues up 12.2%, topping estimates by 9.3%. LSI traded up 6.7% following the results while Garrett Motion was also up 26.3%.
Read our full analysis of LSI’s results here and Garrett Motion’s results here.
There has been positive sentiment among investors in the electrical systems segment, with share prices up 7.6% on average over the last month. Whirlpool is down 5.4% during the same time and is heading into earnings with an average analyst price target of $68.73 (compared to the current share price of $53.24).
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