Welcome to our dedicated page for Whirlpool news (Ticker: WHR), a resource for investors and traders seeking the latest updates and insights on Whirlpool stock.
Whirlpool Corporation (NYSE: WHR) is a globally recognized leader in kitchen and laundry appliances. Established with a commitment to improving life at home, Whirlpool Corp. continues to innovate and meet the evolving needs of consumers worldwide.
With approximately $19 billion in annual sales in 2023 and a workforce of 59,000 employees, Whirlpool Corp. operates 55 manufacturing and technology research centers. The company’s extensive brand portfolio includes iconic names such as Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit, and InSinkErator. These brands are marketed and sold in nearly every country, making Whirlpool the number one major appliance manufacturer globally.
Whirlpool Corporation focuses on delivering purposeful innovation to enhance everyday living. Recent collaborations and projects highlight this commitment. In 2025, Whirlpool and BORA will introduce induction downdraft technology through JennAir and KitchenAid brand induction downdraft cooktops in North America. This partnership aims to revolutionize kitchen design by integrating technology that eliminates the need for overhead ventilation units, thus offering limitless design opportunities.
Another significant collaboration involves Whirlpool Foundation and The Washing Machine Project. This initiative will deliver thousands of manual washing machines to low-income and displaced communities globally, saving time and improving quality of life for an estimated 150,000 people over the next five years. This project underscores Whirlpool’s dedication to community development and sustainable solutions.
Whirlpool Corporation’s financial health remains robust, with strategic moves such as the Europe transaction expected to deliver $750M+ in future cash flows and $250-$300M in incremental cash flow by 2025. The company’s recent Q1 2024 performance highlighted strong results from Latin America, Asia, and the SDA Global segment, despite facing challenges in the North American market.
Whirlpool Corp. also actively engages in social responsibility programs. The “Feel Good Fridge” program, launched in 2021, provides refurbished refrigerators to food pantries and nonprofit organizations, contributing to food security and sustainability by keeping appliances out of landfills and delivering fresh food to those in need. The program aims to place 3,000 refrigerators by 2030, significantly impacting food-insecure communities across the U.S.
Whirlpool Foundation has renewed its support for the BuildBetter with Whirlpool program, committing $2.5M over the next two years to help Habitat for Humanity build energy-efficient homes. The program will construct 50 net-zero-energy-ready homes, focusing on climate resilience and energy efficiency. The initiative's first phase, launched in 2021, will complete over 260 homes by end of 2024, achieving 45% predicted energy cost savings per family and 15% reduction in greenhouse gas emissions per home. The program aims to help homeowners reduce operating costs through improved energy efficiency while demonstrating that energy-efficient homes aren't exclusive to the luxury market.
Whirlpool (WHR) reported Q3 2024 financial results with net sales of $3,993M, down 18.9% year-over-year. The company achieved sequential margin expansion in MDA North America for the second consecutive quarter. GAAP earnings per share were $2.00, while ongoing earnings per share were $3.43. The company revised its full-year GAAP EPS guidance to approximately $0.50 but reaffirmed ongoing EPS guidance of $12.00. Free cash flow guidance remains at approximately $500 million, with operating cash flow projected at $1.05 billion.
Whirlpool (NYSE: WHR) has announced that it will release its third-quarter financial results and presentation materials on Wednesday, October 23, 2024, at 4:05 p.m. ET. The company will hold a conference call to discuss its performance with the investment community on Thursday, October 24, 2024, at 8 a.m. ET.
To participate in the conference call, investors can dial 1 (888) 440-4038 (Conference ID: 2610251) for domestic callers or 1 (646) 960-0861 (Conference ID: 2610251) for international participants. Participants are advised to dial in at least 10 minutes before the call due to potential longer wait times.
The conference call will also be webcast live on Whirlpool's investor relations website. Interested parties should visit the site at least 15 minutes prior to the call to download any required streaming media software. Key financial statistics, the earnings presentation, and an archived recording of the call will be available on the website for at least 30 days after the event.
Whirlpool has announced a quarterly dividend declaration by its board of directors. The dividend, set at $1.75 per share on the company's common stock, will be payable on December 15, 2024. Stockholders of record at the close of business on November 15, 2024, will be eligible to receive this dividend. This announcement demonstrates Whirlpool's commitment to returning value to its shareholders through regular dividend payments.
Whirlpool employees in Mexico have been actively participating in environmental conservation efforts. For the past 8 years, House+Home ambassadors, primarily consisting of Whirlpool employees and their family members, have collaborated with Apoya tu Bosque Local to plant over 5,000 endemic trees. This initiative has covered an impressive area of 5.24 hectares.
The commitment to environmental sustainability continues to grow, as evidenced by the recent efforts of 100 House+Home ambassadors who have planted more than 850 trees in the current year alone. This ongoing project demonstrates Whirlpool's dedication to corporate social responsibility and environmental stewardship in Mexico.
The Washing Machine Project and Whirlpool Foundation have announced a collaboration to address the 'Global Washing Divide'. Their goal is to deliver thousands of manual washing machines to low-income and displaced communities worldwide over the next five years. This initiative aims to impact an estimated 150,000 people, targeting the approximately 60% of the world's population (5 billion people) who still wash clothes by hand.
The collaboration seeks to improve quality of life and remove barriers to advancement for these communities. Navjot Sawhney, Founder of The Washing Machine Project, and Deb O'Connor, Managing Director of the Whirlpool Foundation, discussed their partnership on the Purpose360 podcast, highlighting the strengths each organization brings to the project and the potential impact on reclaiming time and improving lives for those affected by the Global Washing Divide.
The Summer Youth Golf Careers & Development Program, supported by the Whirlpool Foundation, is introducing Benton Harbor, Michigan area teens to diverse careers in the golf industry. This 12-week program, a collaboration with Harbor Shores Golf Course and Point O' Woods Golf and Country Club, provides on-the-job experience in areas such as event planning, retail, hospitality, turf management, and culinary arts.
Now in its second year, the program aims to spark future career pursuits for participants. Josh Doxtator, general manager of Harbor Shores Golf Course, emphasized the program's focus on teamwork and golf culture exposure. One participant, Tyler Valentine, gained culinary experience and is now pursuing further education at the Culinary Institute of America.
Deb O'Connor, managing director of the Whirlpool Foundation, highlighted the program's value in revealing local career opportunities in the golf industry. To date, 27 students have participated in the program's first two years.
Whirlpool (WHR) and Purdue University are celebrating over 10 years of sustainable living insights from the ReNEWW House project. This initiative, launched in 2013, involves a 1920s vintage home retrofitted for Net-Zero energy, water, and waste. The ReNEWW House serves as a collaborative experiment in sustainable living, aiming to address the challenges of integrating modern energy-efficient technologies into older homes. Whirlpool has shared the lessons learned from this project in its 2023 Sustainability Report, highlighting the company's commitment to environmental sustainability and innovation in home appliances.
Whirlpool has been recognized as one of the 100 Best Companies for Working Parents in 2024 by Seramount, a strategic professional services and research firm. This prestigious list evaluates companies based on their programs for paid time off, leaves, benefits, work-life balance, and workplace best practices.
Carey Martin, Executive VP and Chief HR Officer at Whirlpool, emphasized the company's commitment to evolving their programs to support a talented, dedicated, and diverse workforce. The recognition highlights Whirlpool's efforts in creating an inclusive workplace that benefits working parents.
Seramount's evaluation process involved a comprehensive application with over 200 questions covering various aspects of employee support. The list reflects data from 2023 and considers both the availability and usage of these programs, as well as management accountability.
KitchenAid sponsored the Michigan Hospitality Foundation's (MHF) ProStart Invitational, a high-level culinary competition for high school students. Over 400 students participated, with winning teams invited to the 2024 KitchenAid Senior PGA Championship for a unique culinary experience. Five high school teams were recognized in the pasta competition and later worked alongside professional chefs at the championship event.
The experience provided students with valuable insights into the hospitality industry and career pathways. DCTC Riverview High School won the grand prize with their Red Coconut Curry Pasta. The competition taught students critical life skills applicable to culinary careers. With hospitality being an $18 billion industry in Michigan, supporting 595,000 jobs and ranking among the top 10 fastest-growing sectors, KitchenAid aims to develop the next generation of culinary professionals through hands-on education.
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