Technology

Whirlpool full-year profit forecast disappoints, shares fall

FILE PHOTO – The administrative entrance at the Whirlpool plant in Clyde, Ohio, U.S. October 3, 2017. REUTERS/Aaron Josefczyk

(Reuters) – U.S. home appliances maker Whirlpool Corp forecast on Monday full-year profit that missed analysts’ expectations, sending its shares down 5 percent after the bell.

The company reported a profit in the fourth quarter compared with a loss in the same period a year earlier, boosted by higher demand in North America.

Net earnings available in the quarter ended Dec. 31 was about $170 million, or $2.64 per share. The company incurred a net loss of $268 million, $3.74 per share, a year earlier, when it took a one-time charge due to changes in the U.S. tax law.

Net sales fell to $5.66 billion from $5.70 billion.

Reporting by Divya R and Sanjana Shivdas in Bengaluru; Editing by Arun Koyyur

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