Whirlpool profits soar on cost-cutting moves

Apr 24, 2013 | 04:42 PM |

Tags  Whirlpool, earnings report, Jeff Fettig, appliances, capacity reduction, product price and mix, housing market

CHICAGO — Whirlpool Corp.’s net income soared to $252 million in the first quarter from $92 million in the same period last year despite a 2.3-percent dip in sales to just under $4.25 billion.

The improvement was driven by a continued favorable product price and mix as well as cost- and capacity-reduction initiatives, the Benton Harbor, Mich.-based appliance maker said in its earnings release April 24.....

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