** charts after earnings **
Whirlpool beats by $0.51, misses on revs; guides FY19 EPS below consensus
- Reports Q4 (Dec) earnings of $4.75 per share, excluding non-recurring items, $0.51 better than the S&P Capital IQ Consensus of $4.24; revenues fell 0.7% year/year to $5.66 bln vs the $5.76 bln S&P Capital IQ Consensus. Excluding the impact of currency, sales increased 2.5 percent.
- The North America region delivered fourth-quarter revenue growth of ~5 percent and strong earnings before interest and taxes (EBIT) margin expansion, despite soft industry demand and continued cost inflation.
- The EMEA region delivered sequential quarterly improvement in unit volumes and EBIT margin, in-line with expectations.
- Co issues downside guidance for FY19, sees EPS of $14.00-15.00, excluding non-recurring items, vs. $15.99 S&P Capital IQ Consensus, as favorable product price/mix, restructuring benefits and reduced share count are offset by a higher tax rate and cost and currency increases; expects to generate cash provided by operating activities of $1.4 billion to $1.5 billion and free cash flow of $800 million to $900 million.
- The Company plans to hold an Investor Day in New York City on May 23, 2019.
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