Whirlpool (WHR) concluded the recent trading session at $98.83, signifying a +0.67% move from its prior day's close.
Whirlpool (WHR) reported earnings 30 days ago. What's next for the stock?
Home prices are near all-time highs, but home sales have dropped sharply in recent years. Many investors expect interest rates to come down later this year, which could reinvigorate the housing market.
Management was expecting a more favorable interest rate environment in 2024. A weak housing market has shifted revenue streams toward less profitable replacement demand, causing margin pressure and making Whirlpool's promotional activity ineffective.
Whirlpool stock surged to $115 on buyout rumors, now around $100, presenting a buying opportunity. Q2 earnings show progress in cost reduction, debt payment, and potential for increased profits with strategic moves. Dividend yield of 7% is attractive, well-covered by expected earnings and potential for growth, but downside risks include recession and macroeconomic concerns.
Whirlpool's (WHR) Q2 results reflect sales growth in SDA Global, MDA Latin America and MDA Asia, along with sequential margin expansion globally. However, sales in MDA North America declined.
Whirlpool Corporation (NYSE:WHR ) Q2 2024 Earnings Conference Call July 25, 2024 8:00 AM ET Company Participants Marc Bitzer - Chairman, Chief Executive Officer James Peters - Chief Financial Officer, Chief Administrative Officer Scott Cartwright - Head of Investor Relations Conference Call Participants Sam Darkatsh - Raymond James Mike Dahl - RBC Capital Markets Susan Maklari - Goldman Sachs David MacGregor - Longbow Research Laura Champine - Loop Capital Michael Rehaut - JP Morgan Eric Bosshard - Cleveland Research Rafe Jadrosich - Bank of America Scott Cartwright Good morning and welcome to Whirlpool Corporation's second quarter 2024 earnings call. Today's call is being recorded.
Although the revenue and EPS for Whirlpool (WHR) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Whirlpool (WHR) came out with quarterly earnings of $2.39 per share, missing the Zacks Consensus Estimate of $2.40 per share. This compares to earnings of $4.21 per share a year ago.
Whirlpool (WHR) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.
Whirlpool's (WHR) second-quarter 2024 earnings are likely to show the impacts of a tough macro environment, coupled with sluggish demand and inflationary pressures.
A deal could make sense for both parties. Whirlpool faces near-term challenges, and it may be better positioned within a larger company that can support its debt and avoid paying its dividend.