Whirlpool 2nd-quarter profit falls on softer consumer demand for home appliances

Whirlpool 2Q profit falls on lower consumer demand

BENTON HARBOR, Mich. — Whirlpool, the world’s largest maker of major home appliances, says its second-quarter profit fell 33 percent as consumer demand for its products significantly weakened.

The company, whose brands include Maytag, KitchenAid and its namesake, earned $78 million, or $1.04 per share, for the period ended June 30. That’s down from $117 million, or $1.53 per share, a year earlier.

Analysts expected profit of 51 cents per share.

Revenue dropped 18 percent to $4.17 billion on the stronger dollar, missing Wall Street’s expectations.

Benton Harbor, Mich.-based Whirlpool Corp. lifted the low end of its full-year profit outlook. It now expects earnings of $3.50 to $4 per share. Prior guidance was for profit of $3 to $4 per share.