Whirlpool Corporation today reported record third quarter earnings of $196 million and raised its guidance for earnings per share as a result.
The world's largest manufacturer of appliances, which acquired Maytag in Newton in 2006, said its third quarter earnings were $122 million higher than the net earnings for the same period the year before.
Sales in the quarter were $4.7 billion compared to $4.5 billion in the third quarter the year before.
"We continue to execute on the plans we set out at the beginning of the year," said Jeff Fettig, Whirlpool chairman and CEO. "Our innovative products and industry-leading brands are driving increased consumer demand and revenue growth. That growth, combined with our actions to increase margins, is translating into record earnings."
As a result, the Benton Harbor, Mich.,-based corporation increased its full-year diluted earnings per share guidance to $10.45 to $10.65 compared to the previous range of $10.05 to $10.55.
In early trading following the earnings release, Whirlpool stock was up $11.52 to $142.49 or 8.8 percent.