Whirlpool Corp. - WHR STOCK NEWS

Emerson (NYSE: EMR) has announced the sale of its InSinkErator business to Whirlpool Corporation (NYSE: WHR) for $3.0 billion. As of March 31, 2022, InSinkErator generated $595 million in revenue and $166 million in EBITDA, marking a transaction value of 18.1x EBITDA. This move is part of Emerson’s strategy to diversify and enhance its growth portfolio. The deal is expected to close in Emerson's 2023 fiscal year, pending regulatory approvals. This acquisition allows Whirlpool to expand its product lineup in the home appliance sector.

Whirlpool Corporation (NYSE: WHR) reported a GAAP net loss margin of (7.3)% and a loss per diluted share of $(6.62), affected by non-recurring charges of $747 million. Ongoing EBIT margin was at 9.0%, yielding earnings per diluted share of $5.97 despite inflation and lowered demand. North America saw an EBIT margin of 14.1% due to cost-based price increases. The company returned ~$400 million to shareholders and revised its full-year guidance to earnings of $9.50 to $11.50 per diluted share on a GAAP basis.

Whirlpool Corporation (NYSE: WHR) will announce its second-quarter financial results on July 25, 2022, at 4:05 p.m. ET. A conference call for investors is scheduled for July 26, 2022, at 8 a.m. ET, accessible via phone and live webcast. The company reported approximately $22 billion in annual sales in 2021 and operates with a workforce of 69,000 across 54 manufacturing and technology research centers. More details and archived materials can be found on their website under the 'Investors' section.

Whirlpool Corporation has appointed Rob Byrd as the new General Manager of Builder Sales, effective immediately. With nearly 15 years at Whirlpool, Byrd aims to enhance support for builder and distributor customers nationwide. Previously, he served as Director of National Accounts Sales & Operations, gaining valuable experience across various roles, including product development and merchandising. Vice President Dave Cichocki expressed confidence in Byrd's leadership to drive improvements and support customer needs.

Whirlpool Corp. (NYSE: WHR) has expanded its partnership with Habitat for Humanity through the BuildBetter initiative, aiming to create affordable, climate-resilient housing for low-income families. This collaboration, spanning over 22 years and worth $120 million, focuses on building homes equipped with energy-efficient Whirlpool appliances. A study indicates these efforts have reduced annual energy costs by an average of 20%, significantly impacting families facing high energy expenses. Whirlpool's commitment aligns with its corporate responsibility program, House+Home, promoting sustainable community growth.

Whirlpool Corporation, a leader in kitchen and laundry appliances, will showcase its latest innovations at the Pacific Coast Builders' Conference (PCBC) on June 22-23, 2022, in San Francisco. The company emphasizes its commitment to meet evolving consumer needs with diverse offerings from brands like Whirlpool, Maytag, KitchenAid, and JennAir. Featured products include the ENERGY STAR certified KitchenAid refrigerator and a 5-in-1 Air Fry Oven. Whirlpool aims to provide builders and designers with high-quality appliances that align with modern trends and consumer preferences.

Whirlpool Corp. (NYSE: WHR) has launched WoW Studios, a new brand experience organization aimed at transforming the consumer journey in home appliances. Located in Chicago, WoW Studios will leverage over 111 years of expertise to enhance consumer experiences across brands like Whirlpool, KitchenAid, and Maytag. The initiative focuses on delivering innovative marketing and direct-to-consumer capabilities. In 2021, Whirlpool reported approximately $22 billion in sales, underscoring its commitment to improving life at home through purposeful innovation.