NEW YORK (Reuters) - Whirlpool Corp (WHR.N), the world’s largest appliance maker, posted a weaker-than-expected quarterly results, hurt by rising costs and weak consumer demand in North America, its largest market.
The maker of Maytag and KitchenAid appliances said its second-quarter net loss was $161 million, or $2.10 a share, compared with year-earlier net earnings of $205 million, or $2.64 a share.
Excluding items, it earned $2.76 a share, missing the analysts’ average estimate of $2.83, according to Thomson Reuters I/B/E/S.
Sales rose 4 percent to $4.73 billion, but missed the analysts’ average estimate of $4.74 billion.
Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn