Yahoo Finance Here's How Whirlpool (WHR) Is Placed Ahead of Q1 Earnings
Whirlpool Corporation WHR is slated to release first-quarter 2024 results on Apr 24, after the closing bell. The household appliance company is expected to have witnessed revenue and earnings declines in the to-be-reported quarter.
For first-quarter revenues, the Zacks Consensus Estimate is pegged at $4.4 billion, suggesting a 5.4% decline from the prior-year quarter’s reported figure. The Zacks Consensus Estimate for quarterly earnings has been unchanged in the past 30 days at $1.70. However, the projection indicates a 36.1% decline from the year-ago quarter’s reported figure.
The company delivered an earnings surprise of 5.8% in the last reported quarter. Also, the bottom line beat estimates by 16.3%, on average, over the trailing four quarters.
Whirlpool Corporation Price and EPS Surprise
Whirlpool Corporation price-eps-surprise | Whirlpool Corporation Quote
Key Points to Note
Whirlpool has been gaining from market share growth, industry recovery and gains from cost takeout actions. The company’s quarterly performance is expected to have gained from improved supply-chain execution, innovation efforts and product introductions.
The company has been undertaking actions to protect margins and productivity amid the ongoing inflationary pressures. It has implemented cost takeout actions, including curtailing structural and discretionary costs, capturing raw material deflation opportunities, effectively managing working capital, and syncing supply chain and labor levels with demand.
However, the company has been witnessing a challenging macro environment, including sluggish demand. It also saw muted consumer sentiments from inflation and unfavorable currency. Despite improvements in supply-chain conditions, Whirlpool has been witnessing supply-chain disruptions in some parts of the world. The company has recorded an unfavorable product price/mix and high raw material costs. All these factors are likely to have marred its margin performance and hurt profitability in first-quarter 2024.
What the Zacks Model Says
Our proven model does not conclusively predict an earnings beat for Whirlpool this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Whirlpool currently has a Zacks Rank #3 and an Earnings ESP of 0.00%.
Stocks Poised to Beat Earnings Estimates
Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:
Central Garden & Pet CENT has an Earnings ESP of +4.32% and currently sports a Zacks Rank #1. CENT is likely to register bottom-line growth when it reports second-quarter fiscal 2024. The Zacks Consensus Estimate for its quarterly revenues is pegged at $894.5 million, suggesting a 1.6% decline from the figure reported in the prior-year quarter.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CENT’s fiscal second-quarter earnings is pegged at 83 cents per share, up 15.3% from the year-ago quarter’s figure. The consensus mark has risen by a couple of cents in the past 30 days.
Churchill Downs CHDN presently has an Earnings ESP of +7.69% and a Zacks Rank #3. CHDN is likely to register a top-line decline when it reports first-quarter 2024 numbers. The Zacks Consensus Estimate for its quarterly revenues is pegged at $561.5 million, indicating 0.4% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Churchill Downs’ first-quarter earnings is pegged at 78 cents a share, suggesting a year-over-year plunge of 20.4%. The consensus mark has moved up by a penny in the past 30 days.
MGM Resorts International MGM currently has an Earnings ESP of +37.96% and a Zacks Rank #3. MGM is likely to register top and bottom-line growth when it reports first-quarter 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $4.2 billion, suggesting 7.1% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for MGM’s first-quarter earnings is pegged at 59 cents, implying 34.1% growth from the year-ago quarter’s actual. The consensus mark has moved up by a penny in the past seven days.
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Whirlpool Corporation (WHR) : Free Stock Analysis Report
MGM Resorts International (MGM) : Free Stock Analysis Report
Central Garden & Pet Company (CENT) : Free Stock Analysis Report
Churchill Downs, Incorporated (CHDN) : Free Stock Analysis Report
