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Whirlpool Announces Strategic Recapitalization to Accelerate Deleveraging and Strategic Growth
Prnewswire· 2026-02-23 21:25
Core Viewpoint - Whirlpool Corporation is launching public offerings of common stock and depositary shares to raise approximately $800 million, aimed at deleveraging and strategic growth initiatives [1] Group 1: Offerings Details - The offerings include shares of common stock and depositary shares representing a 1/20th interest in newly issued Series A Mandatory Convertible Preferred Stock [1] - The net proceeds will be used to repay part of the outstanding amounts under the revolving credit facility and for general corporate purposes, including investments in vertical integration and automation [1] - The Preferred Stock will have a liquidation preference of $1,000 per share and is expected to convert into common stock by February 15, 2029 [1] Group 2: Financial Management - Whirlpool intends to grant underwriters a 30-day option to purchase additional shares to cover over-allotments [1] - The company reported approximately $16 billion in annual net sales for 2025, with nearly 90% of sales generated in the Americas [1] - Whirlpool has 41,000 employees and operates 35 manufacturing and technology research centers [1] Group 3: Market and Regulatory Information - There is currently no public market for the depositary shares or the preferred stock, but Whirlpool plans to list the depositary shares on The New York Stock Exchange under the symbol "WHR.PRA" [1] - The registration statement for these securities has been filed with the SEC and has become effective [1]
WHIRLPOOL CORPORATION TO ANNOUNCE FOURTH-QUARTER AND FULL-YEAR RESULTS ON JANUARY 28TH AND HOLD CONFERENCE CALL ON JANUARY 29TH
Prnewswire· 2026-01-21 21:05
Core Viewpoint - Whirlpool Corporation is set to release its fourth-quarter and full-year financial results on January 28, 2026, followed by a conference call on January 29, 2026, to discuss its performance with investors [1]. Financial Results Announcement - The financial results and presentation materials will be available at 4:05 p.m. ET on January 28, 2026 [1]. - A conference call will take place at 8 a.m. ET on January 29, 2026, to discuss the financial performance [1]. Conference Call Participation - Participants can join the conference call by dialing 1 (888) 440-4038 for domestic calls or 1 (646) 960-0861 for international calls, using Conference ID 2610251 [2]. - It is recommended that participants dial in at least 10 minutes prior to the call due to potential wait times [2]. Webcast Information - The conference call will be available as a live webcast on the company's website, and participants should access the site at least 15 minutes prior to the call to ensure they have the necessary software [3]. - Key financial statistics, the earnings presentation, and an archived recording of the conference call will be accessible on the company's website for at least 30 days [3]. Company Overview - Whirlpool Corporation is a leading home appliance manufacturer, focusing on innovation to meet consumer needs with a portfolio of well-known brands [4]. - In 2024, the company reported approximately $17 billion in annual sales, with nearly 90% of sales generated in the Americas, and employs around 44,000 people across 40 manufacturing and technology research centers [4].