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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 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.
Emerson (NYSE: EMR) has finalized the sale of its InSinkErator® division to Whirlpool Corporation (NYSE: WHR) for $3.0 billion. InSinkErator is the largest manufacturer of food waste disposers and instant hot water dispensers globally, founded in 1938 and acquired by Emerson in 1968. The acquisition enables Whirlpool to enhance InSinkErator's legacy and growth potential. Emerson focuses on providing innovative solutions in essential industries, while Whirlpool aims to be the leading global kitchen and laundry company.
Whirlpool Corporation (NYSE: WHR) has completed its acquisition of InSinkErator from Emerson (NYSE: EMR), the leading manufacturer of food waste disposers and instant hot water dispensers. The acquisition aims to enhance Whirlpool's portfolio and is expected to immediately boost margins, contributing approximately $1.25 EPS in fiscal 2023. InSinkErator will function as a separate entity under Whirlpool's North America Region while maintaining its headquarters in Mount Pleasant, Wisconsin. The company anticipates revenue growth through expanded market presence and leveraging InSinkErator's established brand.
Whirlpool Corporation (NYSE: WHR) reported Q3 2022 results, showing a 12.8% decline in net sales to $4.784 billion amid ongoing inflation and soft demand. GAAP net earnings dropped 69.6% to $143 million, with earnings per diluted share at $2.60. The company aims for a full-year EPS of approximately $5.00 and expects continued challenges into H1 2023. Whirlpool has reduced production volumes by 35% and is undergoing a strategic review in EMEA, with potential investors being evaluated. The InSinkErator acquisition is part of their portfolio transformation.
Whirlpool Corporation, based in Benton Harbor, Mich., declared a quarterly dividend of $1.75 per share on its common stock. This dividend is scheduled for payment on December 15, 2022, to shareholders recorded at the close of business on November 18, 2022. The company reported around $22 billion in annual sales for 2021 and employs approximately 69,000 people, underscoring its commitment to innovation in kitchen and laundry solutions.
Whirlpool Corporation (NYSE: WHR) will release its third-quarter financial results on October 20, 2022, at 4:05 p.m. ET, followed by a conference call on October 21, 2022, at 8 a.m. ET. Investors can join the call by dialing 1 (888) 440-4038 (or 1 (646) 960-0861 for international participants). The earnings presentation and key financial statistics will be available on their website for at least 30 days. In 2021, Whirlpool reported approximately $22 billion in annual sales and employed around 69,000 people.
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