Whirlpool's quarterly sales declined due to weaker demand in North America.
The Michigan-based maker of household appliances including refrigerators and washing machines also on Monday cut its full-year earnings outlook, citing a new interest expense outlook.
Second-quarter sales fell 6.8% to $3.52 billion. Analysts polled by FactSet had projected $3.55 billion.
Organic sales-which strips out the effects of acquisitions, divestitures and currency effects, including the sale of Whirlpool's India business-ticked down 1.7%. The decrease was driven by softer industry demand in North America and promotional intensity in Latin America, the company said.
Second-quarter profit came in at $75 million, compared with $65 million. On a per share basis, earnings were $1.15, compared with $1.17 a year earlier.
Adjusted loss per share was 21 cents. Analysts polled by FactSet projected an adjusted loss of 6 cents a share.
Whirlpool said the results were in line with its expectations, despite what it called persistent economic challenges.
The company said in May it would hike prices by double-digits, and halt its quarterly dividend, as part of an effort to return to profitability in its North America business. The company said at the time that the war in Iran was driving down consumer confidence, adding to pressure from an anemic housing market and sapping demand for its appliances.
For the full year, Whirlpool now expects adjusted earnings per share of $2.50 to $3, compared with its prior outlook of $3 to $3.50, reflecting a new interest expense outlook, the company said. The company now projects earnings per share of $2.25 to $2.75, compared with $2.45 to $2.95 previously.
Whirlpool continues to forecast sales of $15 billion for the year.
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