Loading...
•
Jun 30, 2023
Whirlpool Q2 2023 Earnings Report
Reported solid results with sequentially improved margins, driven by cost take out actions and portfolio transformation.
Key Takeaways
Whirlpool Corporation reported Q2 2023 financial results with net sales of $4.792 billion and GAAP earnings per diluted share of $1.55. The company reaffirms its full-year GAAP earnings per diluted share guidance of $13.00 to $15.00 and free cash flow of approximately $800 million.
GAAP net earnings margin of 1.8%, sequentially improved by approximately 570 basis points.
Ongoing (non-GAAP) EBIT margin of 7.3%, sequentially improved by approximately 200 basis points.
Cost take out actions delivered approximately $150 million of year-over-year Q2 benefit.
Reaffirmed full-year GAAP and ongoing earnings per diluted share of $13.00 to $15.00 and $16.00 to $18.00, respectively.
Whirlpool
Whirlpool
Whirlpool Revenue by Segment
Revenue by Segment
MDA North America Revenue
CapyFin.comMDA Latin America Revenue
CapyFin.comMDA Asia Revenue
CapyFin.comSDA Global Revenue
CapyFin.com Forward Guidance
Whirlpool reaffirms full-year 2023 earnings guidance.
Positive Outlook
- Full-year GAAP earnings per diluted share of $13.00 to $15.00.
- Full-year ongoing earnings per diluted share of $16.00 to $18.00.
- Full-year expectations for 2023 net sales of approximately $19.4 billion.
- Cash provided by operating activities of approximately $1.4 billion.
- Free cash flow of approximately $800 million remains unchanged.
Revenue & Expenses
Visualization of income flow from segment revenue to net income