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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 Corporation emphasizes its commitment to women's housing rights and empowerment in a recent press release celebrating International Women's Day. The company highlights the disproportionate impact of inadequate housing on women, particularly single mothers, and showcases support for programs like Habitat for Humanity that facilitate homeownership for women. Jannetta, a Kansas City resident, exemplifies the positive outcomes of these initiatives, having secured a safe and stable home through Habitat's support. Furthermore, Whirlpool collaborates with Habitat's Terwilliger Center in projects aimed at improving housing solutions for low-income families in Mexico and Kenya.
Whirlpool Corporation (NYSE: WHR) announced its participation in the Raymond James' 44th Annual Institutional Investors Conference on March 6, 2023, at 9:50 a.m. ET in Orlando, Florida. Executive Vice President and CFO Jim Peters will represent the company. Investors and the public can access the presentation via the company's Investor Relations website. The event will also be available for replay for at least 30 days. In 2022, Whirlpool reported approximately $20 billion in annual sales, with a workforce of 61,000 across 56 manufacturing and tech research centers.
Whirlpool Corporation continues its longstanding partnership with Habitat for Humanity International to enhance affordable housing access for families worldwide. A recent video highlights personal stories from Habitat families benefiting from new homes, alongside Whirlpool employees discussing their impactful volunteering experiences. This initiative reflects Whirlpool's commitment to its House+Home strategy, emphasizing social responsibility. In 2021, Whirlpool reported annual sales of approximately $22 billion and employs around 69,000 individuals across 54 manufacturing and technology research centers, showcasing its dedication to improving life at home.
Whirlpool Corporation (NYSE: WHR) announced a quarterly dividend of $1.75 per share, payable on March 15, 2023, to shareholders on record as of March 3, 2023.
In 2022, the company reported approximately $20 billion in annual sales and has over 61,000 employees across 56 manufacturing and technology research centers.
This dividend payment reflects Whirlpool's ongoing commitment to returning value to its shareholders amid a focus on innovation in the home appliance industry.
Whirlpool Corporation announced its initiative, BuildBetter with Whirlpool, aiming to enhance energy efficiency by approximately 15% compared to standard homes. The project plans to construct 250 energy-efficient homes over five years, with ongoing data collection from partner Habitat for Humanity. The initiative includes two grant types: Code-Plus Grants, for building homes exceeding code requirements, and Renewable Energy Grants for solar installations. The program's first phase yielded 58 completed projects in 20 states, achieving an average Home Energy Rating System (HERS) score of 54. The next phase aims for 120 projects across 82 locations.
Whirlpool Corporation (NYSE: WHR) reported significant financial challenges in 2022, including a GAAP net loss of $(1,519) million and a GAAP loss per diluted share of $(27.18). Full-year net sales declined by 10.3% to $19,724 million. The fourth quarter saw a GAAP net loss margin of (32.6)%, with a notable one-off supply chain disruption impacting results. However, the company returned $1.3 billion to shareholders and expects 2023 earnings per diluted share of $16.00 to $18.00, alongside a projected cash flow of approximately $1.4 billion. Strong cost reduction measures are anticipated to yield up to $900 million in benefits this year.
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