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Whirlpool lowers 2016 earnings guidance

Staff Writer |
Whirlpool Corp. (WHR) announced, for the full-year 2016, the company now expects GAAP earnings per share of $11.50 to $11.75 and ongoing business earnings per share of $14.00 to $14.25.

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The company said the changes are primarily related to demand softness in the U.S. and the U.K., along with the continued devaluation of the British Pound.

In July, the company projected its full-year reported earnings per share in a range of $11.50 to $12.00 and ongoing earnings per share in a range of $14.25 to $14.75.

Third-quarter GAAP net earnings were $238 million, or $3.10 per share, compared to $235 million, or $2.95 per share, prior-year. Ongoing business earnings per share totaled $3.66 compared to $3.45 in the same prior-year period.

Third-quarter net sales were $5.2 billion, compared to $5.3 billion in the same prior-year period. Excluding the impact of currency, sales increased slightly.


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