Whirlpool (US:WHR)2025-07-28 20:15Financial Performance - Second-quarter net sales were $3,773 million, a decrease of 5.4% compared to $3,989 million in the same quarter of 2024[3]. - GAAP net earnings available to Whirlpool were $65 million, down 70.1% from $219 million year-over-year[3]. - Ongoing earnings per diluted share for Q2 were $1.34, a decline of 43.9% from $2.39 in Q2 2024[4]. - Net sales for Q2 2025 were $3.773 billion, a decrease of 5.4% from $3.989 billion in Q2 2024[16]. - Basic net earnings per share for Q2 2025 were $1.17, down from $3.96 in Q2 2024[16]. - For Q2 2025, Whirlpool reported net earnings of $65 million, resulting in a net earnings margin of 1.7% on net sales of $3.773 billion[36]. - Ongoing EBIT for Q2 2025 was $200 million, with an ongoing EBIT margin of 5.3%[36]. - The ongoing earnings per diluted share for Q2 2025 was $1.34, compared to $3.96 in Q2 2024[36][38]. - For the full year 2025, Whirlpool anticipates ongoing earnings before interest and taxes of approximately $900 million, with earnings per diluted share projected between $6.00 and $8.00[42]. - Net sales for the full year 2024 were reported at $16.607 billion, with an ongoing EBIT of $887 million[40]. Cash Flow and Debt - Free cash flow for Q2 was $(856) million, compared to $(713) million in Q2 2024, reflecting a decrease of $143 million[4]. - Free cash flow for the first half of 2025 was negative at $(702) million, compared to $(485) million in the first half of 2024[19]. - Free cash flow for the first half of 2025 was $(856) million, with an outlook of approximately $400 million for the full year[50]. - The company refinanced $1.2 billion of term loan debt at an approximate weighted average interest rate of 6.3%[4]. - Long-term debt rose to $6.172 billion as of June 30, 2025, up from $4.758 billion at the end of 2024[18]. Segment Performance - MDA North America segment net sales decreased by 4.7% year-over-year to $2,446 million, with EBIT down 11.7% to $144 million[5]. - MDA Latin America segment net sales fell by 10.0% year-over-year to $806 million, with EBIT down 7.7% to $48 million[5]. - SDA Global segment net sales increased by 7.5% year-over-year to $201 million, with EBIT rising 32.9% to $35 million[5]. Cost Management - The company plans to deliver approximately $200 million in structural cost takeout actions in 2025[10]. - The company incurred restructuring expenses of $2 million in Q2 2025, significantly lower than the $50 million in Q2 2024[46]. Assets and Liquidity - Total assets increased to $16.759 billion as of June 30, 2025, compared to $16.301 billion at the end of 2024[18]. - Cash and cash equivalents decreased to $1.068 billion at the end of Q2 2025, down from $1.275 billion at the beginning of the year[19]. Taxation - The anticipated full-year GAAP tax rate for 2025 is approximately 20-25%[41].