Whirlpool Corporation (NYSE:WHR) Q1 2022 Earnings Conference Call April 26, 2022 8:00 AM ET Company Participants Korey Thomas - Senior Director of IR Marc Bitzer - Chairman and CEO Joe Liotine - President and COO Jim Peters - CFO Conference Call Participants Susan Maklari - Goldman Sachs David MacGregor - Longbow Research Sam Darkatsh - Raymond James Michael Rehaut - JPMorgan Eric Bosshard - Cleveland Research Company Liz Suzuki - Bank of America Merrill Lynch Dan Oppenheim - Credit Suisse Operator Goo ...

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, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-3932 WHIRLPOOL CORPORATION (Exact name of registrant as specified ...

Financial Performance & Guidance - Q1 2022 ongoing EPS was $531, exceeding pre-pandemic levels, despite over $400 million in cost inflation[7] - The company is revising its full-year ongoing EPS guidance from $2700-$2900 to $2400-$2600 due to unprecedented industry-wide inflation[7] - Net sales decreased by 84% to $49 billion year-over-year, or 82% excluding currency effects[14] - The company expects to return over $15 billion to shareholders through increased capital expenditures[7] Inflation & Pricing - Cost inflation expectations increased by $600 million to $18 billion[7] - Additional price increases were announced, raising full-year price/mix expectations to 725 basis points[7] - Decisive go-to-market actions addressed over $400 million of inflation[14] Regional Performance - North America delivered an EBIT performance of 163% despite inflation and operating inefficiencies[22] - EMEA's revenue declined, excluding currency, by 05% due to the Russia/Ukraine conflict, resulting in ~$16 million EBIT decline year-over-year[29] - Asia's revenue declined by 5%, excluding the Whirlpool China divestiture[37] Strategic Review & Portfolio Transformation - The company is initiating a strategic review of its EMEA business, assessing long-term value creation opportunities, with completion expected by the end of Q3 2022[76] - The company is focusing its portfolio on high-growth and high-margin businesses[7]

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 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K For the fiscal year ended December 31, 2021 (Mark One) OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ WHIRLPOOL CORPORATION (Exact name of registrant as specified in its charter) Delaware 38-1490038 (State of Incorpo ...

2021 Earnings Review THURSDAY, JANUARY 27, 2022 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 repurchase expectations, productivity, dire ...

Whirlpool Corporation (NYSE:WHR) Q4 2021 Earnings Conference Call January 27, 2022 8:00 AM ET Company Participants Korey Thomas – Head-Investor Relations Marc Bitzer – Chairman and Chief Executive Officer Jim Peters – Chief Financial Officer Joe Liotine – Chief Operating Officer Conference Call Participants Sue Maklari – Goldman Sachs Eric Bosshard – Cleveland Research David MacGregor – Longbow Research Sam Darkatsh – Raymond James Michael Rehaut – JPMorgan Mike Dahl – RBC Capital Markets Ken Zener – KeyBan ...

Long-Term Value Creation Goals & Third Quarter 2021 Earnings Review FRIDAY, OCTOBER 22, 2021 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 an ...

Whirlpool Corporation (NYSE:WHR) Q3 2021 Earnings Conference Call October 22, 2021 8:00 AM ET Company Participants Korey Thomas - Senior Director of Investor Relations Marc Bitzer - Chairman & Chief Executive Officer Jim Peters - Chief Financial Officer Joe Liotine - Chief Operating Officer Conference Call Participants David MacGregor - Longbow Sam Darkatsh - Raymond James Michael Rehaut - JPMorgan Susan Maklari - Goldman Sachs Ken Zener - KeyBanc Mike Dahl - RBC Capital Markets Eric Bosshard - Cleveland Re ...

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 September 30, 2021 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-3932 WHIRLPOOL CORPORATION (Exact name of registrant as speci ...

Financial Data and Key Metrics Changes - The company reported a strong revenue growth of 32% year-over-year, surpassing 2019 levels, driven by robust consumer demand and effective pricing actions [10] - Ongoing EPS reached $6.64, an improvement of $4.57 year-over-year, with an ongoing EBIT margin of 11.4%, reflecting a year-over-year improvement of 640 basis points despite 400 basis points of cost inflation [11][12] - Positive free cash flow of $769 million was generated, supported by strong earnings and successful divestitures [12] Business Line Data and Key Metrics Changes - North America experienced a revenue growth of 22%, driven by strong consumer demand and effective go-to-market strategies [16] - The Europe, Middle East, and Africa (EMEA) region saw double-digit growth in all key countries, with a year-over-year EBIT improvement of $97 million [18] - Latin America reported a significant net sales increase of 76%, with EBIT margins of 9.7% [19] - Asia faced a revenue decline of 1% due to supply chain disruptions, but still achieved year-over-year EBIT growth of $23 million [20] Market Data and Key Metrics Changes - The company expects continued strong demand in North America, driven by home nesting trends and an undersupplied housing market [30] - The EBIT guidance for North America was updated to approximately 17%, reflecting increased cost efficiencies [31] - The company anticipates free cash flow of approximately $1.7 billion, representing 7.5% of net sales, driven by stronger top-line growth [32] Company Strategy and Development Direction - The company is committed to investing over $1 billion in capital expenditures and R&D to drive innovation and growth [33] - Increased share repurchases are expected in the second half of 2021, signaling confidence in the business [35] - The company aims to maintain strong shareholder value while navigating a volatile macroeconomic environment [38] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing supply chain constraints and inflationary pressures but expressed confidence in the company's ability to navigate these challenges [24][25] - The company raised its guidance for net sales growth to approximately 16% and EPS to about $26, reflecting a year-over-year increase of over 40% [25] - Management emphasized that the current operating environment will persist longer than anticipated, with a new normal emerging that differs from pre-COVID conditions [95][96] Other Important Information - The company repaid a $300 million maturing bond and issued its inaugural sustainability bond, reflecting its commitment to corporate citizenship and environmental performance [36] - The company has a healthy cash balance and is positioned for potential M&A opportunities, although no immediate acquisitions are planned [76][77] Q&A Session Summary Question: Market share performance in North America - Management noted that supply chain constraints hindered market share growth in Q2, but they expect gradual improvements moving forward [42][43] Question: Revised margin guidance - Management highlighted that carryover from prior year cost reductions and ongoing cost management initiatives contributed to improved margin guidance [44][45] Question: Importance of market share vs profitability - Management stated that both market share and profitability are important, with a focus on delivering strong financial performance while expanding market share [49][50] Question: Differences in 2021 performance - Management attributed the strong performance to early recognition of raw material cost inflation and effective pricing actions [51][53] Question: Raw material inflation expectations - Management expects raw material inflation to peak in Q3 but does not anticipate a negative price-cost relationship [59][60] Question: Inventory changes in Q2 - Management explained that inventory increases were due to a low starting base and efforts to normalize inventory levels in certain regions [66][67] Question: Latin America sales guidance - Management acknowledged potential volatility in Latin America but expressed confidence in strong demand from Brazil and Mexico [68] Question: M&A priorities - Management confirmed that capital allocation priorities remain unchanged, focusing on funding the business and returning cash to shareholders [74][76] Question: Pricing environment in Europe - Management indicated that they have implemented price increases in response to inflationary pressures and expect continued benefits [80][81]