Whirlpool Q2 2023 Earnings Report
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
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