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Mar 31, 2020
Whirlpool Q1 2020 Earnings Report
Whirlpool's Q1 2020 earnings were resilient amidst economic uncertainty, with solid margin performance and strong liquidity.
Key Takeaways
Whirlpool Corporation reported resilient first-quarter results with GAAP earnings per diluted share of $2.41 and ongoing earnings per diluted share of $2.82. The company's performance reflected the hard work of its employees, its focus on consumers, and the resilience of its business, with strong liquidity enabling it to weather the crisis.
Resilient Q1 results with GAAP and ongoing (non-GAAP) earnings per diluted share of $2.41 and $2.82, respectively.
Solid year-over-year margin performance in North America, Latin America and Europe, Middle East and Africa regions despite COVID-19 related disruptions.
Cash used in operating activities and free cash flow improvement of approximately $100 million driven by disciplined working capital management.
Implemented a robust COVID-19 response plan to protect margins and liquidity in 2020, while positioning the Company to win in the recovery.
Revenue by Segment
Forward Guidance
The Company expects a full-year 2020 net sales decline of approximately 13 percent to 18 percent (organic net sales decline of 10 percent to 15 percent) and is targeting over $500 million in net cost takeout in 2020.
Positive Outlook
- Adjust supply chain and labor levels to match demand environment
- Aggressively reduce structural and discretionary costs
- Capture raw material deflation opportunity
- Continue to effectively and efficiently manage working capital
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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