Whirlpool CEO Talks Record Profits, Thorny Politics and a Slowdown in China

Whirlpool ( WHR ) CEO Jeff Fettig cheered strong U.S. demand for appliances, despite challenges overseas, in an interview with Barron's after the company's second quarter earnings report on Friday. The company posted operating profits of $3.50 per share in the second quarter, against expectations of $3.36, and raised the bottom end of its 2016 earnings guidance. "In the first half of the year we're completely on track," Fettig said, noting that profits hit a record. "That gives us full confidence for the full-year forecast." North American margins rose to 12.3%, the company's best result ever. And while unit shipment growth decelerated in the U.S., the company says it's on track for 5 to 6% unit volume growth for the year. Growth in home sales and remodeling has helped the company, though Fettig expects consumer confidence could "be subdued during the political season."