Shares of Whirlpool (WHR) are swirling higher, up $4.73, or 6%, at $80.79, after the company this morning reported Q4 revenue rose 13% to $4.9 billion, yielding profit per share of $1.24, almost half a billion dollars ahead on the top line, though short of expectations by 8 cents on the EPS line.
What’s lifting the shares is the forecast: $6.50 to $7 per share for this year, well ahead of the consensus $6.45 per share.
Sales in North America rose 4%, while in Europe revenue rose 2% after the dollar’s decline, but were down 9% in constant currency. Sales in Latin America and Asia rose 52% and 34%, respectively. Even in constant dollars, both regions rose an impressive 28% and 27%.
The company sees free cash flow of $400 million to $500 million, which is down from free cash flow of $1.1 billion in 2009, most because of expectations for cash from operations to fall by about a third to $925 million to $1.03 billion while capex remains similar to last year.
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