Whirlpool Q1 Report 2023

 

• Solid Q1 performance, in line with expectations
• • Net sales decline of 5.5% driven by global demand softness
  •  Cost take out actions largely on track
• Sequential ongoing margin expansion of ~200 basis points
  •  North America margins of 10%
• Delivered ongoing EPS of $2.66
•  Reaffirming full-year ongoing EPS of $16.00 – $18.00

PROFITABLE GROWTH
Net Sales $4.6B YoY Change (5.5)% (5.2)% organic

MARGIN EXPANSION
Ongoing EBIT Margin 5.4% YoY Change (4.0) pts

CASH CONVERSION
Free Cash Flow $(573)M  FCF as % of  Net Sales (12.3)%