UPDATE 2-Strong dollar, Brazil to dent Whirlpool 2015 results
(Adds details of results, company comment on prices, stock move)
By Nick Carey
CHICAGO, April 28 (Reuters) - Whirlpool Corp posted a higher quarterly net income on Tuesday but lowered its profit forecast and sales outlook for 2015, predicting a significant drop in Latin American sales owing largely to Brazil's stagnating economy.
The world's largest maker of home appliances said the strength of the U.S. dollar would continue to affect profits this year.
Shares in Whirlpool dropped almost 9 percent after the announcement.
In February the company warned that the strong greenback, which means overseas sales of its washers and dryers, cooktops, stoves and refrigerators translate into fewer U.S. dollars, could shave $1 billion of its revenue in 2015.
In a conference call with analysts, Whirlpool said it has introduced price increases in a number of markets including in Canada, eastern Europe and Brazil to help offset the impact of the strong dollar.
The world's largest maker of home appliances reported first-quarter net income up 19 percent year on year to $191 million, or $2.38 a share. Analysts had expected earnings per share of $2.34 for the quarter.
Revenue for the quarter totaled $4.8 billion, up from $4.4 billion a year earlier. Wall Street analysts had predicted first-quarter sales of $5.06 billion. Continuación...