(Reuters) - Whirlpool Corp
Shares of Whirlpool, the world's largest home appliance maker, were up 4 percent before the bell.
The company said it expected to earn $9.90 to $10.10 per share, excluding items, for the full year, compared with an earlier forecast of $9.50 to $10.00.
Analysts on average were expecting full-year earnings of $9.97 per share, according to Thomson Reuters I/B/E/S.
Whirlpool's shares took a hit last week over concerns about softening demand for its appliances in September, which were then exacerbated by a temporary slowdown in consumer spending tied to the partial U.S. government shutdown.
But some analysts brushed aside such concerns, saying that consumer confidence tended to recover quickly once a perceived threat had passed. The 16-day government shutdown ended last week.
Whirlpool, along with Swedish rival Electrolux AB
Whirlpool, which has embarked on a cost-cutting drive this year, said on Tuesday that sales in its Europe, Middle East and Africa division rose 10.8 percent to $778 million in the third quarter ended September 30.
The company said it expects industry sales in that division to be flat from a year earlier, having earlier forecast a decline of as much as 2 percent.
Net income available to Whirlpool rose to $196 million, or $2.42 per share, in the third quarter from $74 million, or 94 cents per share, a year earlier.
Excluding items, Whirlpool earned $2.72 per share, above the $2.61 that analysts had expected.
The company's shares have gained about 50 percent in the past 12 months and outperformed the S&P 500 <.SPX> index.
They closed at $130.97 on the New York Stock Exchange on Monday.
(Reporting by Sagarika Jaisinghani in Bangalore; Editing by Savio D'Souza and Robin Paxton)