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 has announced a $0.05 increase in its quarterly dividend, raising it from $1.20 to $1.25 per share. This marks the eighth consecutive year of dividend increases, reflecting the company's confidence in its business outlook. The dividend will be payable on December 15, 2020, to stockholders of record as of November 20, 2020. With annual sales of approximately $20 billion and a workforce of 77,000 employees, Whirlpool continues to strengthen its position as a leading appliance manufacturer.
Whirlpool Corporation (NYSE: WHR) will release its third-quarter financial results on October 21, 2020, at 4:05 p.m. ET. A conference call to discuss the results with investors will take place on October 22, 2020, at 8 a.m. ET. Participants can join the call by dialing (866) 393-4306 for domestic or (734) 385-2616 for international access, using the confirmation code 'Whirlpool'. The call will also be webcast live on the company's website, which will host key financial statistics and an archived recording for 30 days.
Whirlpool has launched its new largest-capacity third rack dishwashers in response to increased home cooking during the pandemic. A survey indicates that 63% of homeowners are cooking more often, leading to more dirty dishes. The new line features an adjustable second rack and a three-piece silverware basket for better loading efficiency. Available in various finishes, these dishwashers also include a Leak Detection System to alert users of leaks. Whirlpool continues to position itself as America’s number one preferred dishwasher brand.
Whirlpool Corporation (NYSE: WHR) celebrates Manufacturing Day globally for the first time, honoring manufacturing employees and the company's World Class Manufacturing (WCM) standards. The initiative underscores the importance of manufacturing during COVID-19, emphasizing the commitment to achieving zero injuries, defects, and downtime. CEO Marc Bitzer highlights the critical role of manufacturing in providing essential home appliances. The company aims to inspire diverse talent and emphasizes the significance of STEM education in preparing future manufacturing workers.
Whirlpool's Care Counts™ laundry program aims to support students facing barriers in education due to the COVID-19 pandemic. In its sixth year, the initiative has assisted nearly 90% of participating at-risk elementary students in improving attendance. The program is expanding to 33 regions and 122 schools, addressing the needs of families affected by economic hardships. Research will evaluate the impact of clean clothes on students' emotional well-being and engagement in learning. The program has successfully reduced chronic absenteeism, contributing to better attendance and academic outcomes.
Whirlpool Corporation (NYSE: WHR) has appointed Winn Everhart as Senior Vice President of its U.S. operations, effective October 1, 2020. Everhart joins from Coca-Cola, where he spent nearly 20 years, most recently as General Manager in the Philippines. His responsibilities will encompass U.S. commercial and business operations, reporting to Joe Liotine, President of North America. This new role aims to enhance leadership capacity for growth opportunities domestically and globally.
Whirlpool had approximately $20 billion in annual sales and employs 77,000 people as of 2019.
Whirlpool Corporation's board declared a quarterly $1.20 dividend per share on common stock, payable on September 15, 2020. Shareholders must be on record by the close of business on August 28, 2020. As a leading kitchen and laundry appliance company, Whirlpool reported approximately $20 billion in annual sales, employing about 77,000 people and operating 59 manufacturing and technology research centers worldwide. This dividend underlines the company's commitment to returning value to shareholders.
Whirlpool Corporation (NYSE: WHR) announced that its greenhouse gas emissions reduction targets have been approved by the Science Based Targets initiative (SBTi). This approval underscores Whirlpool's commitment to align its reductions with the Paris Agreement, targeting a 50% decrease in emissions by 2030 from a 2016 baseline. Since 2016, the company has achieved an 18% reduction in emissions through investments in efficiency and renewable energy. Whirlpool continues collaborations for emission solutions and aims for carbon neutrality, reinforcing its sustainability goals amid ongoing global challenges.
On July 23, 2020, Whirlpool released a report showing how household chores can positively impact children's development. Research by Dr. Richard Rende indicates that chores enhance social, emotional, and cognitive skills in children of all ages. Despite a decline in children's participation in chores from 79% in 1997 to 70% in 2020, parents are encouraged to shift their perception of chores to promote engagement. Whirlpool aims to support families with innovative appliances designed to facilitate chore participation, such as the Smart Capable Top Load Washer with Load & Go™ technology.
Whirlpool Corporation (NYSE: WHR) reported challenging financial results for Q2 2020, with net sales dropping to $4.042 billion, a 22.1% decline from $5.186 billion in 2019. The company experienced a significant reduction in GAAP net earnings, falling to $35 million, a 48.2% decrease. Ongoing EBIT also decreased by 42.1% to $210 million. However, the company reported a strong cash position of $2.5 billion and implemented significant cost-cutting measures amid the COVID-19 pandemic. Future outlook anticipates a net sales decline of 10-15% for the year.
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