Whirlpool Half-Year Report 2023

Our solid Q2 results and actions put us firmly on track towards expanding our margins sequentially throughout 2024,” said Marc Bitzer, “setting up our business well for the eventual recovery of the U.S. housing market.” MARC BITZER, CHAIRMAN AND CHIEF EXECUTIVE OFFICER 

Highlights

  • Sequential margin expansion globally and in MDA North America, driven by MDA North America promotional pricing actions
  • Solid performance in SDA Global, MDA Latin America, and MDA Asia, all delivering double-digit net sales growth in the quarter
  • Continued progress toward cost take out goals; on track to deliver $300-$400 million in 2024
  • Q2 GAAP net earnings margin of 5.5%; GAAP earnings per diluted share of $3.96
  • Ongoing (non-GAAP) EBIT margin of 5.3%; ongoing earnings per diluted share of $2.39
  • Expect full-year GAAP earnings per diluted share of approximately $3.00, primarily impacted by the non-cash charge related to the Europe transaction
  • Revised full-year ongoing earnings per diluted share(2) to approximately $12.00, cash provided by operating activities to approximately $1.05 billion and free cash flow to approximately $500 million 

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