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) conducted a global study involving over 19,000 participants to identify consumer preferences for home innovations. Results highlight a strong preference for energy-efficient appliances (51%) and environmentally friendly products. Smart appliances remain underutilized, with only 5% of features activated. The company emphasizes its commitment to sustainability and innovation, including energy-efficient appliances and new functionalities. Additionally, Whirlpool collaborates with Habitat for Humanity to provide energy-saving appliances, potentially reducing electric costs by over 20% for low-income households.
Whirlpool Corporation (NYSE: WHR) announced a significant investment of over $65 million in its Ottawa, Ohio plant to transform it into a premium refrigeration manufacturing facility. This initiative will enable production of Built-In Refrigerators (BIR) and is expected to create more than 100 jobs. Plant expansion is slated to start in mid-2022, with full production commencing in 2023. The investment reflects Whirlpool's commitment to innovation and competitive advantage in the BIR market, backed by support from JobsOhio and local officials.
Whirlpool Corporation (NYSE: WHR) announced its Q3 2021 financial results, reporting net sales of $5,488 million, a 3.7% increase year-over-year. GAAP net earnings rose by 20.2% to $471 million, with GAAP earnings per diluted share at $7.51. The company increased its earnings per share guidance to ~$26.25. Despite strong cash flow of $1,294 million, ongoing EBIT decreased by 3.2% to $608 million. Whirlpool aims for 5-6% annual sales growth and strong cash flow generation, signaling resilience amid market challenges.
On October 18, 2021, Whirlpool Corporation announced a quarterly dividend of $1.40 per share on its common stock. The dividend is scheduled for payment on December 15, 2021, for stockholders of record as of November 19, 2021. With around $19 billion in annual sales and a global workforce of 78,000, Whirlpool continues to focus on innovation in kitchen and laundry products.
On October 15, 2021, Whirlpool Corporation announced the launch of its House + Home World Tour in partnership with Habitat for Humanity International. The initiative will provide over $6 million in funding and energy-efficient appliances to support home construction and repairs across several countries, including the U.S., Canada, Mexico, and the UK. Whirlpool is also sponsoring global housing forums and has committed to building more than 250 climate-resilient homes through its BuildBetter with Whirlpool initiative over the next three years.
Whirlpool Corporation (NYSE: WHR) will announce its third-quarter financial results on October 21, 2021, at 4:05 p.m. ET. Following this, a conference call will be held on October 22, 2021, at 8 a.m. ET to discuss performance with investors. Participants can join the call by dialing 1 (888) 440-4038 or 1 (646) 960-0861 for international calls. The conference will be webcast live on the company's website, where financial statistics and archived materials will be available for 30 days.
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