Whirlpool cut its annual profit forecast after results fell well short of estimates in the third quarter, hurt by sluggish sales in the US and Brexit-inspired turmoil in the UK.

The appliance giant now expects earnings of $14 to $14.25 a share this year, according to a statement on Tuesday.

Whirlpool had previously forecast a range as high as $14.75.The company, which sells appliances under brands such as KitchenAid and Maytag, cited a "challenging" environment in the US for hampering sales. The UK's vote to leave the European Union – and subsequent impact on the pound – also took a toll on results, the Benton Harbor, Michigan-based company said. The shares had been up 16 per cent this year through Monday's close.

Whirlpool posted earnings of $3.66 a share in the third quarter, missing the $3.86 projected by analysts. Sales fell to $5.25 billion, compared with an average estimate of $5.32 billion.

–(Bloomberg)