GRAND RAPIDS, Mich., Oct. 24 (AP) — Strong sales and the acquisition of a former rival helped to deliver a 3 percent increase in third-quarter profit for Whirlpool, but investors were worried about the overall appliance industry and the company’s stock fell 3 percent Tuesday.
Whirlpool’s net income rose to $117 million, or $1.47 a share, from $114 million, or $1.66 a share, a year earlier, when it had more shares outstanding. Revenue increased 35 percent.
Sales rose about 8 percent when excluding business brought in from Whirlpool’s March 31 acquisition of the Maytag Corporation.
Stock in Whirlpool, which is based in Benton Harbor, Mich., fell $2.63, to $86.70 a share.
