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Home appliance company Whirlpool Corp. (NYSE: WHR ) reported a decline in adjusted earnings for the fourth quarter of 2022, hurt by a 15% decline in sales.
At $4.92 billion, fourth quarter net sales were down 15% from the year-ago period. All four geographic segments experienced weakness during the period.
Recurring earnings, which show profit excluding special items, fell 37% year over year to $3.89 per share in the three-month period. On an unadjusted basis, the company reported a net loss of $1.61 billion or $29.35 per share, compared with a profit of $298 million or $4.90 per share in the year-ago quarter.
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