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) announced that Chairman and CEO Marc Bitzer will join OneTen, a coalition aimed at training, hiring, and advancing one million Black Americans in sustainable jobs over 10 years. This initiative aligns with Whirlpool's commitment to workplace inclusivity and diversity. The company has previously launched a multi-year action plan to support Black colleagues and established Employee Resource Groups to enhance employee engagement. Whirlpool has received accolades for its diversity efforts, scoring a perfect 100 on the Corporate Equality Index in 2020.
Whirlpool Corporation's recent research reveals significant shifts in household dynamics due to the COVID-19 pandemic. Over half of U.S. adults are spending an extra 7.4 hours at home daily, fostering joint cooking and increased household chores. The study, conducted with YouGov, indicates that 24% feel closer to family, with 16% adopting new hobbies, notably cooking and gardening. While 54% hope for normalcy, 28% wish to maintain positive changes. Whirlpool aims to support these trends by launching the "Improving Life At Home" online hub for expert advice.
Whirlpool brand has achieved top rankings in the J.D. Power 2020 Laundry Appliances Satisfaction Study, receiving recognition for its front-load washing machines in four key categories: Ease of use, Performance and Reliability, Warranty, and Price. Over 2,000 customer evaluations from washing machine purchasers contributed to this study conducted between January and March 2020. The brand's commitment to delivering reliable and efficient appliances has been acknowledged by J.D. Power, highlighting Whirlpool's dedication to consumer satisfaction.
Whirlpool Corporation, a leader in kitchen and laundry appliances, has launched a new liquid laundry detergent named Swash™. This innovative product features the Precision Pour Cap that dispenses the correct amount of detergent, addressing common consumer misconceptions about detergent use. Swash is ultra-concentrated, offering up to 83 loads with a single bottle, which is eight times more concentrated than regular detergents. Available on Amazon starting at $15.99, Swash also comes in various scents, including Pure Linen, Free & Clear, and Simply Sunrise.
Whirlpool Corporation (NYSE: WHR) announced the retirement of Chief Legal Officer Kirsten Hewitt after nearly 25 years, effective December 1, 2020. Ava Harter will succeed her, bringing extensive legal experience from Owens Corning and other major firms. During her tenure, Hewitt significantly contributed to Whirlpool's growth through key acquisitions and a transformation of the legal team. CEO Marc Bitzer praised her leadership and cultural impact, while expressing excitement about Harter's appointment.
Whirlpool Corporation (NYSE: WHR) reported Q3 2020 financial results, showcasing a 3.9% increase in net sales to $5.291 billion, compared to $5.091 billion in Q3 2019. Net earnings rose 11% to $397 million, translating to earnings per diluted share of $6.27. Ongoing EBIT surged 74.5% to $635 million.
Cash flow improved significantly, showing $407 million in operating activities year-to-date. The company expects a 5%-7% decline in full-year net sales but has increased its earnings guidance, reflecting confidence in recovery.
Whirlpool Corporation (NYSE: WHR) appointed Danielle Brown as Senior Vice President and Chief Information Officer (CIO), effective November 1, 2020. Brown, formerly Vice President and CIO at Brunswick Corporation, will enhance Whirlpool's Global Information Systems. With over 16 years of experience at DuPont, she brings expertise in modernizing technology and optimizing operations. Her educational background includes a BS in computer science and an MBA. The move aims to strengthen Whirlpool's digital capabilities at a crucial time for the company.
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