Whirlpool Corp. - WHR STOCK NEWS

Whirlpool Foundation continues its support for the Michigan Council of Women in Technology Foundation (MCWT) by sponsoring the 'Girls Rock IT' event for a second consecutive year. Held in the spring, the event targeted local girls from grades 2-8, introducing them to coding and app development. Elementary students engaged with Scratch, while middle schoolers used MIT App Inventor to create apps. The initiative also included sessions for parents on Internet Safety and Careers in Technology to bolster support for the girls' tech aspirations. As women remain underrepresented in tech, Whirlpool Foundation aims to inspire and support future female tech talent in Michigan.

Whirlpool is expanding its 'Feel Good Fridge' program, collaborating with HelloFresh and Total Quality Logistics (TQL) to combat food insecurity in 13 U.S. markets. Initially launched in 2021, the program provides refurbished refrigerators to food pantries and nonprofits, offering free, fresh food to those in need. This expansion will see Whirlpool providing 2,000 refrigerators, TQL managing transportation, and HelloFresh supplying fresh ingredients. The initiative has already donated over 900 refrigerators and delivered 250,000 pounds of food, impacting more than 25,000 families. Current target markets include cities like Dallas, Detroit, Atlanta, and Los Angeles, with a goal of 3,000 refrigerators by 2030.

Whirlpool has partnered with Benton Harbor High School and Youth Solutions, Inc.'s Jobs for Michigan Graduates to support 30 students through a comprehensive mentorship program. The initiative included workplace simulations, presentation and etiquette tips, and a Dress For Success event, where students received tailored style advice through a hands-on shopping experience. This program aims to prepare students for college, technical training, or immediate employment. Whirlpool mentors played a key role, ensuring each student was styled for professional success.

On June 18, 2024, Whirlpool employees celebrated World Environment Day by engaging with ECHO, the company's employee-led environmental group. Activities included a recycling comprehension quiz, distributing succulents, and planting seedlings. These initiatives aim to foster greater environmental awareness and participation among employees, enhancing the company's internal and external environmental impact.

Whirlpool has been recognized by the U.S. Environmental Protection Agency (EPA) for its renewable energy strategy in North American operations. The company ranks No. 60 on EPA's National Top 100 list, No. 14 on the Top 30 On-site Generation list, and No. 34 among Green Power Partners from the Fortune 500. Whirlpool purchases over 301 million kilowatt-hours of renewable energy annually, covering 86% of its power needs. The company aims to achieve 100% renewable energy for its U.S. sites through onsite power and two virtual power purchasing agreements in Texas. This initiative aligns with their goal to reach Net Zero by 2030. In 2023, Whirlpool reduced its scope 1 and 2 emissions by 25% and scope 3 emissions by 7%.

Whirlpool (NYSE: WHR) is expanding its 'Feel Good Fridge' program through a collaboration with HelloFresh and Total Quality Logistics (TQL). Launched in 2021, the program donates refurbished refrigerators to food pantries and nonprofits to provide free, fresh food to those in need. This expansion will impact 13 U.S. markets, with Whirlpool providing 2000 refrigerators, TQL handling logistics, and HelloFresh supplying fresh ingredients. Key markets include cities like Dallas, Atlanta, and Detroit. The program has so far donated over 900 refrigerators, delivered 250,000 pounds of food, and aided more than 25,000 families. Whirlpool aims to place 3,000 refrigerators by 2030.

Whirlpool is committed to reducing emissions from products in use by 20% by 2030 compared to a 2016 baseline, as stated in the 2023 Sustainability Report.

The Whirlpool Foundation has awarded 30 scholarships to the children of Whirlpool employees through the Sons & Daughters Scholarship program. The program, in its 72nd year, supports students pursuing vocational or traditional college education. The recipients represent the best high school seniors across Whirlpool Corp. locations, with a total of over 2,600 scholarships awarded, totaling $18 million. Eligible students can receive $30,000 over 4 years for a 4-year degree or $15,000 over 2 years for a vocational degree.

Whirlpool announced its first-quarter results, highlighting a significant portfolio transformation milestone with the closing of the Europe transaction. Despite a challenging macro environment in North America, the company saw strong Q1 performance in Latin America, Asia, and SDA Global. Whirlpool declared a $1.75 dividend per share in Q1 & Q2 and repaid $500 million of a term loan in April. The company reported a Q1 GAAP net earnings margin of (5.8)% and ongoing EBIT margin of 4.3%. Whirlpool expects full-year GAAP earnings per diluted share of $5.00 to $7.00 and reaffirmed full-year ongoing earnings per diluted share of $13.00 to $15.00.