Whirlpool Corporation Announces Fourth-Quarter and Full Year Results; Provides 2026 Guidance

Core Insights - Whirlpool Corporation reported its fourth-quarter and full-year 2025 financial results, highlighting a challenging year but expressing confidence for 2026 based on successful product launches and a gradual housing market recovery [1][2] Financial Performance - Fourth-quarter net sales were $4.098 billion, a decrease of 0.9% from $4.136 billion in 2024, while full-year net sales were $15.524 billion, down 6.5% from $16.607 billion in 2024 [1][2] - GAAP net earnings for Q4 2025 were $108 million, compared to a loss of $393 million in Q4 2024, and full-year GAAP net earnings were $318 million, recovering from a loss of $323 million in 2024 [1][2] - Ongoing earnings per diluted share for Q4 2025 were $1.10, a 75.9% decrease from $4.57 in Q4 2024, while full-year ongoing earnings per diluted share were $6.23, down 49.0% from $12.21 in 2024 [1][2] Segment Performance - MDA North America reported Q4 2025 net sales of $2.573 billion, down 0.9% year-over-year, with an EBIT margin of 2.8%, a decrease of 3.9 percentage points [1][2] - MDA Latin America saw a slight increase in net sales to $927 million, with an EBIT margin of 6.4%, down 1.2 percentage points [1][2] - SDA Global experienced a 10.3% increase in net sales to $423 million, with an EBIT margin of 13.8%, up 1.3 percentage points [1][2] Cash Flow and Debt Management - Cash provided by operating activities for 2025 was $467 million, down from $835 million in 2024, with free cash flow of $78 million, significantly lower than $385 million in 2024 [1][2] - The company plans to reduce debt by approximately $400 million in 2026, with expected cash provided by operating activities of around $850 million and free cash flow of $400 to $500 million [1][2] 2026 Outlook - For 2026, Whirlpool expects net sales between $15.3 billion and $15.6 billion, projecting approximately 5% growth compared to 2025 [1][2] - The company anticipates GAAP earnings per diluted share of approximately $6.25 and ongoing earnings per diluted share of about $7.00 for 2026 [1][2] - The ongoing EBIT margin is expected to improve to between 5.5% and 5.8% in 2026 [1][2]