Whirlpool Corp. (NYSE:WHR) saw its shares drop by more than 5% in pre-market today as its revenue forecast for 2024 did not meet Wall Street’s expectations.

RBC Capital analysts pointed out that the decline in the stock price was also influenced by the company’s core North America margin and guidance, which fell short of already low expectations. Additionally, Whirlpool’s free cash flow (FCF) remains weak.

In its Q4 report, Whirlpool posted earnings per share (EPS) of $3.85, surpassing the consensus estimate of $3.54. The company’s revenue was $5.09 billion, exceeding analyst predictions of $4.98 billion.

However, the company’s North America net sales for the quarter were $2.88 billion, a 1.3% increase year-over-year, but still below the anticipated $2.96 billion.

Whirlpool’s EBIT for the quarter was $266 million, a significant 56% increase from the previous year, yet falling short of the expected $304.6 million.

Looking forward to 2024, Whirlpool projects its revenue to be around $16.9 billion, which is considerably lower than the consensus estimates of $17.68 billion. The company also forecasts its full-year EPS to range between $13 and $15, not meeting Wall Street’s expectations of $15.34.

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