Whirlpool 3Q Beats Estimates, Raises EPS Forecast

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Oct. 22 (Bloomberg) -- Alix Steel reports on Whirlpool's third-quarter earnings on Bloomberg Television's "In The Loop." (Source: Bloomberg)

The economy?

The company beat on earnings, $2.72, the by about nine percent.

Revenue was a bit light.

The weekly comp sales across the industry fell in september, turning negative the first week of october.

That was due to the government shutdown.

You are not getting a paycheck, you are not going to buy a big- ticket item.

Based on whirlpool's earnings forecast, it raised its earnings forecast by $.40 on the low end.

Do better appliance sales means a better housing market?

Existing home sales and appliance sales have a 92% correlation.

The first thing you might do is fix up your kitchen, buy a washing machine.

There is a lag of about six months, whirlpool might be a lagging indicator.

Newtown thing -- housing is only 15% of whirlpool's business, it is more about repair.

Things like washing machines, fridges, freezers.

Shipments had been doing really well, up 15% in august, 7% in july.

Cleveland research says there should be as much as 20% of industry volume growth to come.

Will that come slowly -- will that come from home sales?

The other part will be the replacement cycle, similar to what we have seen in the car market.

I'll for appliances are really old.

The bureau of economic analysis said that the average a's for an appliance is over five years old -- the average age for an appliance is over five-years- old.

You are not going to replace a big-ticket item if you don't have money.

The potential demand has more upside, according to renaissance macro.

The replacement cycle could last a minimum of five years.

Thank you so much, alix steel.

From home goods to handbags.

Coach has been struggling.

It said north american

This text has been automatically generated. It may not be 100% accurate.


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