Loading...
•
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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...