2019-11-12 DAD Black Friday 2019 468×60


Published on July 25th, 2019 | by The GC Team


Whirlpool raises full-year earnings guidance

Whirlpool Corporation raised its full-year earnings guidance as it reported EBIT of $254 million for the second quarter of 2019, compared to a loss of $562 million in the same period last year.

The company said EBIT margin was favourably impacted by product price/mix and restructuring benefits, which were partially offset by cost inflation and unfavourable currency.

Last year’s results were negatively impacted by approximately $860 million due to an asset impairment charge related to the EMEA region and a settlement agreement with the French Competition Authority.

Second-quarter net sales were $5.2 billion compared to $5.1 billion in the same prior-year period. Excluding the impact of currency, sales increased 3.5%.

For the full-year 2019 the company raised its guidance and now expects GAAP earnings per diluted share of $17.80 to $18.55 and ongoing earnings per diluted share of $14.75 to $15.50.

“At our recent Investor Day, we laid out a robust strategy for creating shareholder value and our excellent second-quarter results impressively demonstrate that we are on track,” said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation (pictured). “Our strong momentum allows us to raise our full-year guidance despite continued global macro uncertainties.”


About the Author

Get Connected is the top trade journal for the UK electricals industry. Its website is the fastest, most interesting and up to date in the business.

Leave a Reply

Your email address will not be published. Required fields are marked *

14 + 19 =

Back to Top ↑

By clicking "Subscribe", you agree with our terms:
Mud Hut Publishing Ltd will use the information you provide on this form to be in touch with you with relevant news and content. You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us, or by contacting us at info@gcmagazine.co.uk. We will treat your information with respect. For more information please view our privacy policy.
Stay connected with GC’s regular news updates...