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Whirlpool Posts Lower 1Q Profit
Apr 25, 2008
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Whirlpool Corp. reported lower first-quarter profit for 2008. Earnings came to US$94 million, or $1.22 a share, compared with $117 million, or $1.46 a share, a year earlier.

“The combination of unprecedented material cost increases and seven consecutive quarters of lower U.S. demand have resulted in one of the most challenging operating environments we have seen in three decades,” Whirlpool Chairman Jeff Fettig said in a statement.

Whirlpool also said it now expected a steeper drop in industry appliance shipments this year in North America.

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