Whirlpool Sales Up, Profits Soar
Whirlpool says its net income jumped 163% in the second quarter to $205 million, compared to $78 million in the same period a year ago. And sales climbed 9% to $4.5 billion, compared to $4.2 billion in the second quarter of 2009.
In its North American division, sales grew by 6% to $2.5 billion, with the number of units shipped increasing 7%. In the U.S., shipments of major appliances climbed 12%, and the Benton Harbor, Mich.-based company has increased its forecast, and now predicts U.S. unit shipments to gain 5% for the full year.
While it expects that economic conditions will continue to be volatile, it also upped its earnings outlook for the year.