-- Solid performance in SDA Global, MDA Latin America, and MDA Asia, all delivering double-digit net sales growth in the quarter -- Ongoing (non-GAAP) EBIT margin(1) of 5.3%; ongoing earnings per diluted share(2) of $2.39 BENTON HARBOR, Mich., July 24, 2024 /PRNewswire/ -- Whirlpool Corporation (NYSE: WHR), today reported second-quarter 2024 financial results. SEGMENT REVIEW MDA North America MDA Asia MDA NORTH AMERICA MDA LATIN AMERICA SDA GLOBAL Europe transaction closed April 1, 2024, as expected Reaffir ...

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BENTON HARBOR, Mich., July 17, 2024 /PRNewswire/ -- Whirlpool Corporation (NYSE: WHR) will release its second-quarter financial results and presentation materials at 4:05 p.m. ET on Wednesday, July 24, 2024. Whirlpool Corporation will hold a conference call to discuss its performance with the investment community at 8 a.m. ET on Thursday, July 25, 2024. To participate in the conference call, dial 1 (888) 440-4038 and Conference ID 2610251. International participants should dial 1 (646) 960-0861 and Conferen ...

The company has recently been the subject of takeover speculation. According to Reuters, diversified industrial company Bosch is looking at buying Whirlpool to bolster its household appliances business, BSH Hausgerate. Moreover, Whirlpool is arguably a much more attractive company now that it's positioned its European major domestic appliance (MDA) business with Turkish company Arcelik in return for a 25% stake in the new company, Beko Europe. The deal frees up cash resources and rids Whirlpool of a low-mar ...

Financial Data and Key Metrics Changes - The company reported a net sales decline of approximately 3% in Q1 2024, impacted by a normalized promotional environment from the previous year [17] - Ongoing earnings per share were $1.78, with ongoing EBIT margins of 4.3%, including the margin-dilutive MDA Europe business [19] - Free cash flow was negatively impacted by non-recurring cash outflows associated with the MDA Europe business, estimated at $250 million to $300 million [20] Business Line Data and Key Metrics Changes - MDA North America revenue decreased by 8% year-over-year, with EBIT margins at 5.6% [24] - MDA Latin America reported 8% net sales growth, with EBIT margins expanding to nearly 8% [30] - MDA Asia experienced a 2% revenue decline, with EBIT margins at 4.6% [31] - SDA Global achieved approximately 7 points of net sales growth, with EBIT margins at 18% [32] Market Data and Key Metrics Changes - North America industry volumes were soft, with a 2% decline in the U.S. industry due to elevated mortgage rates impacting consumer discretionary spending [7][24] - The company maintained market share in North America while experiencing strong share gains in Latin America [17] Company Strategy and Development Direction - The completion of the EMEA transaction is seen as a major milestone in the company's portfolio transformation towards a higher-growth and higher-margin business [6] - The company plans to increase promotional program prices by 5% to offset inflationary pressures, expecting benefits in the second half of 2024 [12] - A strong product pipeline for 2024 is emphasized, with continued investment in new product development [14] Management's Comments on Operating Environment and Future Outlook - Management remains positive about the U.S. housing market, citing an undersupply of 3 million to 4 million houses [13] - The company expects sequential margin expansion in North America throughout 2024, despite a slower start [39] - Management acknowledges sticky inflation in supply chain costs but remains focused on cost discipline and achieving $300 million to $400 million in cost savings [15][18] Other Important Information - The company declared a dividend of $1.75 per share for Q2, aiming for $400 million in dividends for the year [10] - The company is on track to achieve long-term leverage targets and free cash flow goals [11] Q&A Session Summary Question: Focus on North America MDA segment and margin expectations - Management explained the pricing structure and expressed confidence in achieving a 1% margin increase per quarter due to the promotional price increase [49][50][52] Question: Discretionary demand and competitive pricing - Management noted that while discretionary demand is limited, they believe their strong product pipeline will help maintain market share despite the price increase [61][62] Question: U.S. retail inventories and seasonal build - Management acknowledged some destocking in January but does not expect it to impact the typical seasonal build in refrigeration [71] Question: Arçelik transaction and stranded costs - Management indicated that stranded costs are not expected to be a significant headwind due to cost takeout actions and organizational simplification [72][75]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________________________________ FORM 10-Q ________________________________________________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 (Exact name of registrant as specified in its charter) 2000 North M-63 Delaware 38-1490038 (State of Incorporation) (I.R.S. Employer Identification No.) Benton Harbor, Michigan 49022 ...

WhirlB First-Quarter 2024 Earnings Review Thursday, April 25, 2024 Cautionary Statement This document contains forward-looking statements about Whirlpool Corporation and its consolidated subsidiaries ("Whirlpool") that speak only as of this date. Whirlpool disclaims any obligation to update these statements. Forward-looking statements in this document may include, but are not limited to, statements regarding future financial results, long-term value creation goals, restructuring and resegmentation expectati ...

"The closing of the Europe transaction marks a critical portfolio transformation milestone," said Marc Bitzer. "We saw strong performance in Global SDA as well as our international businesses, and announced promotional program price increases in MDA North America consistent with the value of our products and brands to address sticky inflation." MARC BITZER, CHAIRMAN AND CHIEF EXECUTIVE OFFICER | First-Quarter Results | 2024 | 2023 | Change | | --- | --- | --- | --- | | Net sales ($M) | $4,490 | $4,649 | (3. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 1-3932 WHIRLPOOL CORPORATION (Exact name of registrant as specified in its charter) Delaware 38-1490038 (State of Incorpo ...

Whirlpool Corporation (NYSE:WHR) Q4 2023 Earnings Conference Call January 30, 2024 8:00 AM ET Company Participants Korey Thomas - Investor Relations Marc Bitzer - Chairman and Chief Executive Officer Jim Peters - Chief Financial Officer Conference Call Participants Sam Darkatsh - Raymond James Mike Rehaut - JPMorgan Susan Maklari - Goldman Sachs David MacGregor - Longbow Research Mike Dahl - RBC Capital Markets Jason Haas - Bank of America Eric Bosshard - Cleveland Research Korey Thomas Good morning, and we ...