Whirlpool Boosts Guidance, Starting a Rally

Whirlpool (WHR Quote) shares rallied Tuesday as the home appliance maker boosted earnings estimates.

The Benton Harbor, Mich., maker of ovens and washing machines said it expects first-quarter core earnings to rise 15%-20% from the year-ago $1.10 a diluted share. That puts the first-quarter EPS forecast at around $1.27-$1.32 a share, which is well above the $1.23 analyst consensus quoted by Thomson Financial/FirstCall.

In offering the strong forecast Whirlpool cited "improved U.S. appliance industry conditions in January and February," and suggested it may boost its 5%-10% 2002 earnings growth target should conditions continue to improve. ...