Whirlpool misses by $0.34, misses on revs; guides FY25 EPS below consensus, reaffirms FY25 revs guidance; Board recommends reduction in quarterly dividend (97.86 -1.88)
- Reports Q2 (Jun) earnings of $1.34 per share, excluding non-recurring items, $0.34 worse than the FactSet Consensus of $1.68; revenues fell 5.4% year/year to $3.77 bln vs the $3.85 bln FactSet Consensus.
- Co issues guidance for FY25, sees EPS of $6.00-8.00, excluding non-recurring items, vs. $8.96 FactSet Consensus and vs. $10.00 prior guidance; sees FY25 revs of $15.80 bln vs. $15.63 bln FactSet Consensus.
- Board is recommending reduction in quarterly dividend rate to $0.90 per share from $1.75 per share, totaling $5.30 per share for 2025 and annualized rate of $3.60.
- "As expected, the second quarter continued to be impacted by competitors stockpiling Asian imports into the U.S. Despite this, we are well positioned in North America with a robust pipeline of new products, the industry's leading U.S. manufacturing footprint, and favorable housing demand fundamentals."