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 Corp. (NYSE: WHR) partnered with Habitat for Humanity International on a study showing that low-income households can save an average of 20% on their annual energy costs by using energy-efficient appliances. Between 2018 and 2020, donated Whirlpool appliances saved about 5.4 million kWh, equating to $624,000 in total electric bill savings. Whirlpool has donated over 100,000 energy-efficient appliances and committed $130 million to Habitat's initiatives over their 23-year partnership, recently expanding support for housing rehabilitation and climate-resilient construction.
Whirlpool Corporation reported its first quarter 2022 financial results, showing a GAAP net earnings margin of 6.4% and ongoing earnings per diluted share of $5.33. Despite strong consumer demand and a robust North America performance, net sales decreased by 8.2% year-over-year to $4.92 billion. The company revised its full-year 2022 guidance for earnings per diluted share to between $24.00 and $26.00. Increased share repurchase authorization by $2 billion also indicates confidence in its strategy. The strategic review of EMEA operations aims to enhance focus on high-growth areas.
Whirlpool Corporation's board of directors has declared a quarterly dividend of $1.75 per share on its common stock, which is scheduled for payment on June 15, 2022. Stockholders who are on record by the close of business on May 20, 2022 will receive this dividend. The company reported approximately $22 billion in annual sales for 2021 and employs around 69,000 individuals, showcasing its strong market presence.
Whirlpool Corporation (NYSE: WHR) will announce its first-quarter financial results on April 25, 2022, at 4:05 p.m. ET. A conference call to discuss the results will take place on April 26, 2022, at 8 a.m. ET, with participation details provided. The call will also be accessible through a live webcast on the company's website. Whirlpool reported approximately $22 billion in annual sales in 2021, employing around 69,000 individuals across 54 manufacturing and technology research centers.
Whirlpool Corporation (NYSE: WHR) announced the retirement of Executive Vice President and President of Whirlpool Asia, Sam Wu, effective April 1, 2022. Wu will continue as Vice-Chairman of Whirlpool China Co. Ltd. Jim Peters, currently CFO, will take over Wu's responsibilities in Asia. Wu, in his tenure since 2017, contributed to top-line growth and margin expansion while streamlining the company’s portfolio. Under his leadership, Whirlpool improved its brand presence in India and China. The announcement reflects strategic leadership changes aimed at continuing operational excellence.
Whirlpool Corporation (NYSE: WHR) will present at the Raymond James 43rd Annual Institutional Investors Conference on March 9, 2022, at 10:25 a.m. ET, in Orlando, Florida. Jim Peters, CFO, will represent the company, and the presentation will be available for live streaming on the Investor Relations website. An archived recording will also be accessible for 30 days following the event. In 2021, Whirlpool reported approximately $22 billion in sales and operates with around 69,000 employees across 54 manufacturing and technology research centers.
Whirlpool Corporation's board has authorized an additional $2 billion for its share repurchase program, following a residual $1.5 billion remaining from previous authorizations. The company also increased its quarterly dividend by 25% to $1.75 per share, effective March 15, 2022, marking the tenth consecutive year of dividend growth. Chairman Marc Bitzer emphasized the company's confidence in its cash generation capabilities and commitment to long-term shareholder value.
Whirlpool Corporation is expanding its Builder Support Representative Program to assist builders facing challenges in a growing economy. This initiative provides single-family builders with direct access to Whirlpool representatives for on-site operational training and support. The program began in August 2019 and has expanded to 16 major builder markets across the West, Southeast, and Southwest. It aims to enhance relationships and resolve daily challenges effectively. In 2020, Whirlpool reported $19 billion in sales and employs 78,000 people worldwide.
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