Whirlpool (WHR) Misses Q3 EPS by $1.04, Lowers Guidance
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Whirlpool Corporation Announces Q3 Results Impacted by Short Term Macro Headwinds And Provides Update on Portfolio Transformation; Business Well Positioned for Future
October 20, 2022 4:05 PM EDTPortfolio transformation advances with announced acquisition of InSinkErator and the completed divestiture of the Whirlpool Russia businessStrategic review of EMEA nears conclusion with two potential strategic investors in final evaluation stageGAAP net earnings margin of 3.0% and ongoing (non-GAAP) EBIT margin(2) of 5.5%, despite double digit industry declines across most major marketplaces and continued elevated cost inflationIn anticipation of a temporary soft demand environment, reduced production volumes by 35% in the third quarterDelivered GAAP and ongoing (non-GAAP) earnings per diluted share(1)of $2.60 and $4.49, respectivelyRevised full-year 2022 guidance to ~$5.00... More
