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Whirlpool Corporation (WHR) reported disappointing Q2 results on [insert date], with sales of $3.8 billion, a 5.5% decline year-over-year, and a 44% drop in adjusted earnings per share (EPS). Following this report, the company’s stock received a Zacks Rank of #5 (Strong Sell) as analysts cut their EPS outlooks.
The company also lowered its guidance for the current year, including free cash flow, adjusted EPS, and earnings before interest and taxes (EBIT) margins. In contrast, WHR shares have rebounded over 10% in the last three months despite these challenges, indicating some market recovery.
CEO Mark Bitzer attributed the negative impact to competitors stockpiling Asian imports but remained optimistic about future prospects, citing a strong product pipeline and favorable housing demand in North America.
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