惠而浦(WHR.US)跌超10%，报88美元。消息面上，惠而浦公布第二季度业绩，销售额同比下降5.4%至 37.7亿美元，低于分析师预期的38.5亿美元；调整后每股收益1.34美元，亦低于预期的1.68美元。期内北 美、亚洲地区销售额分别同比下降4.7%和5.9%。展望全年，惠而浦维持销售额达158亿美元的指引；下 调调整后每股收益指引至6-8美元，低于分析师预期的8.96美元。另外，该公司还计划将季度股息从每 股1.75美元削减至每股90美分。(格隆汇) ...

Market Overview - US stock index futures are all up, with Dow futures rising by 0.13%, S&P 500 futures by 0.30%, and Nasdaq futures by 0.47% [1] - European indices also show positive movement, with Germany's DAX up 1.17%, UK's FTSE 100 up 0.55%, France's CAC40 up 1.10%, and the Euro Stoxx 50 up 1.02% [2][3] - WTI crude oil increased by 0.07% to $66.76 per barrel, while Brent crude oil rose by 0.13% to $69.41 per barrel [3][4] Federal Reserve Insights - The Federal Reserve is not yet prepared to lower interest rates, with officials divided on the timing and evidence needed for such a decision [5] - The upcoming cryptocurrency policy report from the White House is anticipated to be a catalyst for the crypto market, alongside the Fed's interest rate decision [5] Company News - Oppenheimer raised its year-end target for the S&P 500 to 7100 points, citing easing trade tensions and strong corporate earnings, indicating an 11% upside from the latest closing price [6] - Novo Nordisk lowered its 2025 sales growth and profit expectations, projecting sales growth of 8%-14% compared to a previous forecast of 13%-21% [7] - UnitedHealth's second-quarter earnings guidance fell short of expectations, forecasting adjusted EPS of at least $16, significantly below the analyst consensus of $20.40 [8] - UPS refrained from providing earnings guidance due to market volatility, reporting Q2 revenue of $21.2 billion, a 2.8% year-over-year decline [8][9] - Stellantis restored its earnings guidance but warned of a €1.2 billion (approximately $1.4 billion) tariff impact in the second half of the year [9] - Nomura Holdings reported a 52% year-over-year increase in Q1 net profit, driven by strong trading and investment banking performance [10] - Barclays announced a 23% increase in first-half profits and a $1.3 billion stock buyback plan, benefiting from market trading activity [11] - Whirlpool's Q2 sales fell 5.4% to $3.77 billion, below market expectations, and it lowered its full-year EPS guidance [12] - Philips slightly raised its adjusted operating margin forecast for the year, indicating that the impact of trade tensions was less severe than previously feared [13] Economic Data and Events - Upcoming economic data includes the US wholesale inventory month-on-month change and the Conference Board Consumer Confidence Index [14][15] - Earnings reports are expected from Visa, Booking, Starbucks, UBS, Rio Tinto, UMC, New Oriental, and HSBC [17]

Financial Data and Key Metrics Changes - The company experienced a 3% decline in net sales, excluding currency effects, due to negative consumer sentiment impacting global industry demand [10] - Ongoing earnings per share were reported at $1.34, negatively impacted by approximately $0.35 from a noncash loss associated with a minority interest in Becker Europe BV [11] - Free cash flow was unfavorable compared to the prior year by approximately $140 million, driven by seasonal inventory build [11] Business Line Data and Key Metrics Changes - MDA North America saw a 5% decline in net sales year over year, with EBIT margin approximately 6% [15][16] - MDA Latin America experienced a 1% decline in net sales year over year, with EBIT margin at 6% [17] - MDA Asia reported a 4% decline in net sales year over year, but achieved over 7% EBIT margin with 90 basis points of margin expansion [19] - SDA global business delivered 8% net sales growth year over year, driven by direct-to-consumer sales growth [20] Market Data and Key Metrics Changes - Asian appliance imports were estimated to approach the highest level on record during the first half of the year, contributing to promotional intensity [6] - The overall industry is expected to be flat to down 3% globally, with MDA North America and Latin America also expected to be flat to down 3% and 5% respectively [45][46] Company Strategy and Development Direction - The company is focused on new product introductions, with over 30% of North American products transitioning to new products in 2025, marking the largest product portfolio refresh in over a decade [21] - The company aims to leverage its strong U.S.-based manufacturing footprint to benefit from new tariff and trade policies [22][24] - The company is committed to investing in innovative products and reducing debt levels while maintaining a healthy dividend [49][50] Management's Comments on Operating Environment and Future Outlook - Management noted that macroeconomic uncertainty, elevated interest rates, and evolving trade policies have negatively impacted consumer sentiment [5] - The company expects meaningful improvement in the North American business as the full impact of tariffs kicks in later this year [7] - Management remains confident in the long-term fundamentals of the housing market and believes the company is well-positioned to benefit from eventual recovery [25][34] Other Important Information - The company updated its full-year guidance, expecting approximately flat net sales of $15.8 billion in 2025, reflecting strong new product pipeline offset by worsening global consumer sentiment [41] - The company plans to adjust the annual dividend rate to $3.60 per share starting in the third quarter to create capacity for future investments and debt repayment [51][96] Q&A Session Summary Question: Estimate of pull forward tariff-free imported product currently on the ground - Management indicated that it is difficult to provide an exact estimate but noted a significant imbalance between declared sell-in and actual sell-out, with a potential 60 to 90 days of inventory from excess Asian imports [59][61] Question: Promotional calendar and second half outlook - Management stated that they significantly reduced promotional efforts in Q2 and do not expect a completely different behavior in the second half, anticipating a more muted promotional environment [62][64] Question: North America major margins and guidance - Management confirmed that the adjustment in guidance reflects continued delays for tariffs, with no change in the fundamental investment story [76][78] Question: Performance of SDA business and back half outlook - Management expressed satisfaction with SDA performance, driven by new product momentum and direct-to-consumer growth, while noting that the segment is back half loaded [88][90] Question: Update on India sale - Management expects proceeds from the India sale to be in the $550 million to $600 million range, with closure anticipated by the end of the year [110][112] Question: Confidence in pricing actions to offset tariffs - Management confirmed that necessary pricing actions have been implemented to offset tariffs, although the impact was masked by a loss in product mix [114]

Financial Data and Key Metrics Changes - The company experienced a 3% decline in net sales, excluding currency effects, due to negative consumer sentiment impacting global industry demand [8][9] - Ongoing earnings per share were reported at $1.34, negatively impacted by approximately $0.35 from a noncash loss associated with a minority interest in Becker Europe BV [9][11] - Free cash flow was unfavorable compared to the prior year by approximately $140 million, driven by seasonal inventory build [9] Business Line Data and Key Metrics Changes - MDA North America saw a 5% decline in net sales year over year, with EBIT margins around 6% [13][14] - MDA Latin America experienced a 1% decline in net sales year over year, with EBIT margins at 6% [15] - MDA Asia reported a 4% decline in net sales year over year, but achieved over 7% EBIT margin with 90 basis points of year-over-year margin expansion [16] - SDA global business delivered 8% net sales growth year over year, driven by direct-to-consumer sales growth [17] Market Data and Key Metrics Changes - The company noted a significant increase in Asian appliance imports, with estimates suggesting they would approach the highest level on record during the first half of the year [5][6] - The overall market is expected to be flat to down 3%, with MDA North America and Latin America facing similar challenges [47][49] Company Strategy and Development Direction - The company is focused on new product introductions, with over 30% of North American products transitioning to new products in 2025, marking the largest product portfolio refresh in over a decade [19][20] - The company aims to leverage its strong U.S.-based manufacturing footprint to benefit from new tariff and trade policies [20][21] - The company is committed to investing in innovative products and reducing debt levels while maintaining a healthy dividend [52][53] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging macroeconomic environment marked by elevated interest rates and evolving trade policies, which have negatively impacted consumer sentiment [4][6] - The company expects the full impact of tariffs to kick in later this year, with confidence in a meaningful improvement in the MDA North American business heading into next year [6][7] - Management remains optimistic about long-term growth potential, particularly in the U.S. housing market, despite not assuming a recovery in 2025 [23][24] Other Important Information - The company is updating its full-year guidance to reflect ongoing macroeconomic uncertainties and the timing of tariff impacts [43][44] - The company plans to reduce its annual dividend rate to $3.60 per share starting in the third quarter to create capacity for future investments and debt repayment [53][54] Q&A Session Summary Question: Estimate of pull forward tariff-free imported product currently on the ground - Management indicated it is difficult to provide an exact estimate but noted a significant imbalance between declared sell-in and actual sell-out, with a potential 60 to 90 days of inventory from excess Asian imports [61][63] Question: Promotional calendar and second half outlook - Management stated they significantly reduced promotional efforts in Q2 and expect a more muted promotional environment in the second half, with a focus on maintaining margins [65][66] Question: Sellout in North America MDA in Q2 and Q3 - Management described the sellout as flat to slightly down, with expectations of improvement as the excess inventory is sold through [104][105] Question: Update on the India sale - Management anticipates proceeds in the range of $550 million to $600 million and expects to close the transaction by the end of the year [109][111] Question: Confidence in pricing actions to offset tariffs - Management confirmed that necessary pricing actions have been largely implemented to offset tariffs, although the mix has been negatively impacted [113][114]

Financial Performance - Net sales were $38 billion, a decrease of 54% year-over-year, or 32% excluding currency effects[16] - Ongoing EBIT margin was 53%, unchanged year-over-year, impacted by unfavorable currency[16, 18] - Free cash flow was negative $856 million, representing -227% of net sales, impacted by seasonal inventory build[16, 18] Segment Results - North America (MDA NAR): Net sales decreased by 5%, and EBIT margin decreased by 03 percentage points[23] - Latin America (MDA LAR): Net sales decreased by 1%, but EBIT margin increased by 02 percentage points[27, 29] - Asia (MDA Asia): Net sales decreased by 4% excluding currency, but EBIT margin increased by 09 percentage points[31, 34] - Global Small Domestic Appliances (SDA Global): Net sales increased by 8%, and EBIT margin increased by 34 percentage points[36, 38] 2025 Guidance - Net sales are projected to be approximately $158 billion, flat year-over-year[88] - Ongoing EBIT margin is expected to be around 57%, flat year-over-year[88] - Free cash flow is estimated at approximately $400 million, representing about 25% of net sales[88] Strategic Initiatives - Whirlpool is focusing on new product introductions, particularly in North America, with over 30% of the product portfolio transitioning in 2025[42] - The company expects to pay down approximately $700 million of debt in 2025[98, 102] - Capital expenditures are planned at around $450 million for innovation, digital transformation, and cost optimization[97, 98]

Whirlpool (WHR -2.00%), a global leader in kitchen and laundry appliances, released its Q2 2025 results on July 28, 2025. The company reported $1.34 in ongoing earnings per share (a non-GAAP measure), underperforming the $1.68 non-GAAP consensus estimate. Revenue (GAAP) came in at $3,773 million, also missing analyst expectations of $3,846.88 million (GAAP). Both figures represented a decline versus the same period (Q2 2024), with GAAP net sales down 5.4% year over year and ongoing earnings per share (non-G ...

Core Viewpoint - Whirlpool reported quarterly earnings of $1.34 per share, missing the Zacks Consensus Estimate of $1.54 per share, and down from $2.39 per share a year ago, indicating a significant earnings surprise of -12.99% [1][2] Financial Performance - The company posted revenues of $3.77 billion for the quarter ended June 2025, slightly surpassing the Zacks Consensus Estimate by 0.06%, but down from $3.99 billion year-over-year [2] - Over the last four quarters, Whirlpool has surpassed consensus EPS estimates two times and topped revenue estimates just once [2] Stock Performance - Whirlpool shares have declined approximately 12.9% since the beginning of the year, contrasting with the S&P 500's gain of 8.6% [3] - The current Zacks Rank for Whirlpool is 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.41 on revenues of $3.94 billion, and for the current fiscal year, it is $8.41 on revenues of $15.52 billion [7] - The trend of estimate revisions for Whirlpool was mixed ahead of the earnings release, which could change following the recent report [6] Industry Context - The Household Appliances industry, to which Whirlpool belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

Julia >> John Whirlpool missing on the top and bottom lines reporting earnings of $1.34% adjusted versus estimates of $1.74% revenues of 3.77% billion below estimates of 3.88% billion. You see shares now down nearly 11%. Now North American revenue of 2.4% billion was a hair ahead of estimates. Um and the company guides to fullear revenue 15.8% billion ahead of estimates of 15.66% billion. Um but they do guide to earnings full year adjusted EPS of $6 to $8. That's well below the estimate of $9.13%. Um they a ...

"In this uncertain environment, we are focused on what we can control: executing cost reduction, proactively managing debt maturities, and strengthening our balance sheet to ensure financial resilience." JIM PETERS, CHIEF FINANCIAL AND ADMINISTRATIVE OFFICER 1 Whirlpool Corporation Announces Second-Quarter Results BENTON HARBOR, Mich., July 28, 2025 - Whirlpool Corporation (NYSE: WHR), today reported second-quarter financial results. "As expected, the second quarter continued to be impacted by competitors s ...

Group 1 - The core point of the article is that Whirlpool's second-quarter net sales reached $3.77 billion, which fell short of analysts' expectations of $3.85 billion [1]