Shares of Whirlpool Corp. (WHR - Get Report) surged in late trading Monday, after the appliance giant beat analysts earning expectations.

Whirlpool's stock price rose by more than 7%, to just under $150, after the company announced first-quarter earnings of $3.11 per share, besting the $3.04 per share estimate of analysts surveyed by Zacks.

That's also up from the same period a year ago, when Whirlpool reporting earnings per share of $2.81.

Still, the maker of popular household appliance brands like KitchenAid and Maytag fell short of analysts' revenue estimates of $4.88 billion for the quarter, instead reporting $4.76 billion.

The mostly better-than-expected performance comes as Whirlpool faces challenges stemming in part from the ongoing U.S.-China trade dispute.

Faced with higher steel and aluminum costs, Whirlpool has been raising prices and cutting costs.

"We delivered another strong quarter with margin expansion and record first-quarter earnings per share despite a soft demand environment in several countries," Marc Bitzer, chairman and chief executive officer of Whirlpool, in a statement. "Successful execution of price increases and sustained focus on cost discipline drove very positive results in the first quarter, and provide confidence in our ability to deliver our full-year financial goals."