Whirlpool Reports Q1 Miss, Initiates Strategic Review of its EMEA Business
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Whirlpool Delivers Solid Q1; Initiating EMEA Strategic Review and Further Focusing Portfolio on High Growth and High Margin Businesses
April 25, 2022 4:05 PM EDTGAAP net earnings margin of 6.4% (down 170 basis points) and ongoing (non-GAAP) EBIT margin(2) of 9.4% (down 300 basis points), despite increased inflation of over $400 millionDelivered GAAP and ongoing (non-GAAP) earnings per diluted share(1) of $5.33 and $5.31, respectivelyRobust sales growth compared to pre-pandemic levels with healthy underlying consumer demandThe North America region delivered strong performance with EBIT(3) margins of 16.3% in a supply constrained environment, as cost-based price increases partially offset inflationRevised full-year 2022 guidance to $24.00 to $26.00 earnings per diluted share on a GAAP and ongoing basis(2), cash provided by operating activities of $1.95 billion and free cash... More
