Whirlpool (US:WHR)2022-04-26 09:24Financial 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]