Whirlpool (WHR) Misses Q1 EPS by 9c, Updates Guidance, Initiates Strategic Review of EMEA Business

Whirlpool (NYSE: WHR) reported Q1 EPS of $5.31, $0.09 worse than the analyst estimate of $5.40. Revenue for the quarter came in at $4.92 billion versus the consensus estimate of $5.32 billion.

• Initiated strategic review of our EMEA business; such assessment expected to be concluded by Q3 2022

GUIDANCE:

Whirlpool sees FY2022 EPS of $24.00-$26.00, may not compare versus the consensus of $26.32.

• Expect full-year 2022 net sales growth of 2 to 3 percent
• Reduced earnings per diluted share to $24.00 to $26.00 from $27.00 to $29.00 on a GAAP and ongoing basis
• Reduced cash provided by operating activities to $1.95 billion from $2.2 billion and free cash flow(4) to $1.25 billion from $1.5 billion
• GAAP and adjusted tax rate (non-GAAP) of 24 to 26 percent remain unchanged

For earnings history and earnings-related data on Whirlpool (WHR) click here.

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