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 Corporation (NYSE: WHR) will announce its fourth-quarter and full-year financial results on January 30, 2023, at 4:05 p.m. ET. A conference call to discuss these results is scheduled for January 31, 2023, at 8 a.m. ET. Interested participants can join the call by dialing 1 (888) 440-4038, or for international attendees, 1 (646) 960-0861. The call will be accessible via live webcast on the company's website, where key financial metrics and a recording will be available for 30 days.
Whirlpool had approximately $22 billion in sales in 2021, employs around 69,000 people, and operates 54 manufacturing and research facilities.
Whirlpool Corporation has completed a strategic review of its EMEA business, agreeing to contribute its European major domestic appliance (MDA) segment to a new entity with Arçelik A.Ş. Whirlpool will own 25% of the venture, which will generate over €6 billion in revenue and yield cost synergies exceeding €200 million. The transaction is projected to unlock over $750 million in cash flow through brand licensing and monetization of the minority interest. Additionally, it will improve Whirlpool's operational cash flow by approximately $100 million and free cash flow by about $250 million annually.
Whirlpool Corporation (NYSE: WHR) announced that João Carlos Costa Brega will step down as Executive Vice President and President of Whirlpool Latin America effective March 31, 2023, as part of a succession plan. Juan Carlos Puente will succeed him from April 1, 2023. Brega, who has been with Whirlpool for over 27 years, led significant growth and a $52 million investment in Argentina's manufacturing plant. Puente, a seasoned leader with over 25 years at Whirlpool, is expected to continue driving success in the region.
Whirlpool Corp. has announced its commitment to integrating Matter, the smart home connectivity standard, into its appliances. This involves joining the Matter working group to enhance interoperability across smart devices in home ecosystems. Matter, launched recently, aims to simplify consumer control over connected devices while ensuring robust security features. With over 220 companies backing Matter, Whirlpool, with its history in the appliance sector, is positioned to contribute significantly to this initiative, enhancing the smart appliance experience for consumers.
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