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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Electrolux AB    ELUX B   SE0000103814

ELECTROLUX AB

(ELUX B)
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Electrolux : Whirlpool sales miss estimates as Latin America drags

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10/22/2019 | 06:19pm EST
The administrative entrance at the Whirlpool plant in Clyde Ohio

(Reuters) - Whirlpool Corp on Tuesday reported quarterly sales below analysts' estimates, hurt by lower appliance sales in Latin America, sending its shares down 2% in trading after the bell.

Net sales in the Latin American unit fell 28% to $632 million (£490.38 million) in the third quarter. Chief Executive Officer Marc Bitzer attributed the decline to the sale of the company's Embraco compressor business and to a small extent to currency changes.

Whirlpool has been looking to sell its loss-making businesses and in July completed the sale of Embraco to Japan's Nidec Corp.

The white goods maker's quarterly net sales fell 4.4% to $5.09 billion, missing analysts' estimate of $5.13 billion.

The Michigan-based company has raised prices of its products twice this year to counter rising costs from higher U.S. tariffs on steel and aluminium - the two main raw materials for the company.

Bitzer told Reuters the company does not have any plan to raise prices further unless the price of raw materials change.

Whirlpool, the owner of brands such as KitchenAid and Maytag, also affirmed its full-year adjusted earnings forecast of between $14.75 and $15.50 per share.

Net earnings available to the company rose nearly 71% to $358 million, or $5.57 per share, in the quarter ended Sept.30.

Whirlpool's shares, which have gained more than 50% of their value so far this year, were down at $157 in after-hours trade after closing at $160.62.

(Reporting by Dominic Roshan K.L. in Bengaluru; Editing by Maju Samuel)

By Dominic Roshan KL

Stocks mentioned in the article
ChangeLast1st jan.
ELECTROLUX AB 0.74% 258 Delayed Quote.36.88%
NIDEC CORPORATION 0.00% 16335 End-of-day quote.37.56%
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Financials (SEK)
Sales 2019 130 B
EBIT 2019 5 852 M
Net income 2019 3 289 M
Debt 2019 7 013 M
Yield 2019 3,48%
P/E ratio 2019 22,0x
P/E ratio 2020 13,3x
EV / Sales2019 0,61x
EV / Sales2020 0,58x
Capitalization 72 217 M
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Technical analysis trends ELECTROLUX AB
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 261,25  SEK
Last Close Price 251,20  SEK
Spread / Highest target 17,4%
Spread / Average Target 4,00%
Spread / Lowest Target -10,4%
EPS Revisions
Managers
NameTitle
Jonas Samuelson President, Chief Executive Officer & Director
Staffan Bohman Chairman
Jan Brockmann Chief Operating Officer & Executive Vice President
Therese Friberg Chief Financial Officer
J. P. Iversen Chief Information Officer
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