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Dec 31, 2021
Whirlpool Q4 2021 Earnings Report
Whirlpool Corporation reported fourth quarter and full-year 2021 financial results, with Q4 results impacted by rising inflation but in line with expectations.
Key Takeaways
Whirlpool Corporation's Q4 2021 revenues were unchanged versus 2020 but up 8% versus 2019. The GAAP net earnings margin was 5.1%, and the ongoing (non-GAAP) EBIT margin was 8.6%. The company expects another year of record performance while increasing organic growth investments and returning approximately $1.5 billion in cash to shareholders.
Q4 revenues were unchanged versus 2020, but 8% up versus 2019.
Q4 GAAP net earnings margin of 5.1% and ongoing (non-GAAP) EBIT margin of 8.6%.
Delivered Q4 GAAP and ongoing (non-GAAP) earnings per diluted share of $4.90 and $6.14, respectively, driven by cost-based pricing actions, largely offsetting over $500 million of inflation, led by raw material cost increases.
Repurchased $400 million of shares in the quarter.
Revenue by Segment
Forward Guidance
Whirlpool expects full-year 2022 net sales growth of 5 to 6 percent. Earnings per diluted share of $27.00 to $29.00 on a GAAP and ongoing basis. Cash provided by operating activities of $2.2 billion and free cash flow of $1.5 billion.
Positive Outlook
- Expect full-year 2022 net sales growth of 5 to 6 percent
- Earnings per diluted share of $27.00 to $29.00 on a GAAP and ongoing basis
- Cash provided by operating activities of $2.2 billion
- Free cash flow of $1.5 billion
Historical Earnings Impact
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Avg. Return Before/After Earnings
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