Whirlpool, the maker of home appliances, reported late last month a fourth-quarter profit that fell 40%, although lower costs and higher prices helped the company expand its appliance-business income.
The company’s 2013 per-share earnings forecast of $9.80 to $10.30, and adjusted per-share earnings of $9.25 to $9.75, exceed Wall Street estimates. Whirlpool also expects industry-wide shipments of appliances from manufacturers to rise 2% this year to 3%.
Whirlpool said an improved U.S. housing market and sales growth in developing markets fueled the higher forecast.
Last week, the company announced that its board approved a quarterly dividend of 50 cents a share.
Shares of Whirlpool were up 99 cents to $110.59 just after Wednesday’s opening bell.