NYSE:WHRConsumer Durables
Whirlpool (WHR) Stock Rebounds As Thin Margins Keep Pressure On
Whirlpool stock ripped higher, jumping 13.8% to US$44.62, as investors grabbed for a quick rebound story in a company that has spent the last year grinding through profit pressure and balance sheet fixes. The headline this quarter is margin, not sales. Management delivered a slim 1.8% ongoing operating margin on about US$3.5b of Q2 revenue and still expects only about 4% for the full year.
For a global appliance manufacturer with heavy debt and rising interest costs, that kind of margin...