Whirlpool stock gains after company meets sales expectations, touts ‘strong liquidity’

Whirlpool Corp. WHR, -8.78% shares rose 3% in the extended session Thursday after the appliances maker reported first-quarter sales that met Wall Street expectations and said it enjoyed “strong liquidity” to weather the economic downturn due to the coronavirus pandemic. Whirlpool said it earned $152 million, or $2.41 a share, from $471 million, or $7.31 a share, a year ago. Sales fell 9% to $4.33 billion from $4.76 billion a year ago. Analysts polled by FactSet had expected the company to report first-quarter GAAP earnings of $2.60 a share on sales of $4.3 billion. The company said it had a cash balance of $2.8 billion as of March 31, and about $2 billion available in credit facilities already secured. Shares of Whirlpool ended the regular trading day down nearly 9%.

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