NEW YORK (TheStreet) -- Shares of Whirlpool (WHR) - Get Report are up 22.8% in the past three months and 5.8% on Wednesday following another "great quarter," TheStreet's Jim Cramer said on CNBC's "Stop Trading" segment. 

The company beat revenue and earnings estimates, with sales up 17.9% year over year. The stock is at an all-time high as a result, Cramer noted. 

Swedish appliance manufacturer Electrolux (ELUXY) also reported a great quarter, Cramer, the co-manager of the Action Alerts PLUS portfolio, pointed out. 

Whirlpool WHR data by YCharts

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Electrolux was helped by its $3.3 billion purchase of General Electric's (GE) - Get Report  appliance business. GE later acquired Alstom, a power generation and transmission company. Cramer said it's ironic GE got out of appliances and bought into energy just before energy prices sank while the appliance business continues to show strength.

Cramer said lower gas prices haven't resulted in the types of higher consumer discretionary spending that many had predicted. Instead, consumers are spending less on discretionary products, paying down debt and saving their money for larger-ticket purchases. 

What does that mean for Whirlpool? Consumer are waiting to go to Home Depot (HD) - Get Report and buy a new appliance or two, Cramer reasoned. As a result, shares of Whirlpool won't just go higher but "much higher," he concluded.

--Written by Bret Kenwell

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.