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Sep 30, 2020
Whirlpool Q3 2020 Earnings Report
Delivered strong results driven by solid industry demand and effective cost management.
Key Takeaways
Whirlpool Corporation reported outstanding third-quarter 2020 results, with net sales growth of 3.9% globally and organic net sales growth of 7.0%. The company achieved a GAAP net earnings margin of 7.5% and a record ongoing EBIT margin of 12.0%.
Net sales grew by 3.9% globally, with organic net sales up 7.0%.
GAAP net earnings margin increased by 50 basis points to 7.5%.
Ongoing EBIT margin reached a record 12.0%, up 480 basis points.
The company is on track with its $500 million cost takeout program, delivering approximately $175 million in the quarter.
Whirlpool
Whirlpool
Whirlpool Revenue by Segment
Revenue by Segment
MDA North America Revenue
CapyFin.comMDA Latin America Revenue
CapyFin.comMDA Asia Revenue
CapyFin.com Forward Guidance
Whirlpool reinstating full-year 2020 guidance, forecasting earnings per diluted share of $14.90 to $15.40 on a GAAP basis and $17.50 to $18.00 on an ongoing basis; cash provided by operating activities in 2020 of ~$1.2 billion and free cash flow of approximately ~$900 million.
Positive Outlook
- GAAP earnings per diluted share of $14.90 to $15.40
- Ongoing earnings per diluted share of $17.50 to $18.00
- Cash provided by operating activities of approximately $1.2 billion
- Free cash flow of approximately $900 million
- Full-year 2020 net sales decline of 5 percent to 7 percent and organic net sales of 0 percent to a decline of 1 percent
Revenue & Expenses
Visualization of income flow from segment revenue to net income