Whirlpool Corp. late Wednesday reported a 32% increase in quarterly sales and said it was raising its 2021 guidance on continued demand for its kitchen and laundry appliances.
Whirlpool WHR,
Analysts polled by FactSet had expected the appliances maker to report earnings of $6.18 a share on sales of $5.02 billion.
The company said it expects GAAP per-share earnings of about $26.95 for the full year 2021 and to have a free cash flow of $1.7 billion for the year.
It called for full-year net sales growth between 16% and 13%.
The guidance increase reflects “the strength of our business driven by sustained consumer demand and the successful implementation of our previously announced cost-based pricing initiatives,” Chief Executive Marc Bitzer said in a statement.
The stock fell in the extended session, however, dipping more than 1% after ending the regular trading day up 1.9%. Whirlpool shares have gained 20% so far this year, outperforming gains of 16% for the S&P 500 index SPX,
