Whirlpool reports 69% rise in quarterly profit

Whirlpool reports 69% rise in quarterly profit

FILE PHOTO: The administrative entrance at the Whirlpool plant in Clyde, Ohio, U.S. October 3, 2017. Picture taken October 3, 2017. REUTERS/Aaron Josefczyk

(Reuters) – Whirlpool Corp (WHR.N) reported a 69% jump in quarterly profit on Monday, as the appliance maker raised prices for its washing machines and kitchen appliances and cut costs.

Net earnings available to the company was $288 million, or $4.52 per share, in the fourth quarter ended Dec. 31, from a profit of $170 million, or $2.64 per share, a year earlier.

Net sales fell to $5.38 billion from $5.66 billion.

Reporting by C Nivedita and Devbrat Saha in Bengaluru; Editing by Sriraj Kalluvila

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