WHIRLPOOL CORPORATION Announces Financial Performance for Second Quarter of FY2023
July 26, 2023
🌥️Earnings Overview
On June 30th 2023, WHIRLPOOL CORPORATION ($NYSE:WHR) reported its financial performance for the second quarter of FY2023. The company’s total revenue for the quarter was USD 4792.0 million, a drop of 6.0%, but net income surged to USD 85.0 million, representing a 122.9% increase from the same period of the previous year.
Stock Price
The stock opened at a price of $150.2 and closed at a price of $150.8, representing a 0.7% increase from its previous closing price of 149.7. This marks the fourth consecutive quarter of positive financial performance for the company. WHIRLPOOL CORPORATION attributes this success to their commitment to providing innovative products and services that meet customer needs and expectations. The significant growth in the second quarter is largely driven by increased demand for the company’s home appliances, such as washing machines, refrigerators and air conditioners.
Additionally, the company has implemented cost-saving measures to better manage their expenses. This has allowed them to generate more profits from their operations and increase their overall profitability. The strong performance has also been supported by the company’s ability to maintain healthy relationships with its suppliers and distributors. This has enabled WHIRLPOOL CORPORATION to ensure that their products are available to customers at competitive prices. Furthermore, the company has implemented various digital marketing initiatives to reach more customers and build brand awareness. The company continues to be a leader in the appliance industry and will continue to focus on delivering innovative solutions for customers. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Whirlpool Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 19.15k | -1.55k | -2.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Whirlpool Corporation. More…
| Operations | Investing | Financing |
| 1.2k | -3.65k | 2.12k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Whirlpool Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 16.98k | 14.79k | 36.85 |
Key Ratios Snapshot
Some of the financial key ratios for Whirlpool Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.5% | -7.6% | -4.6% |
| FCF Margin | ROE | ROA |
| 3.3% | -26.7% | -3.2% |
Analysis
At GoodWhale, we have conducted a thorough analysis of WHIRLPOOL CORPORATION‘s fundamentals. Based on our risk rating assessment, we have determined that the company is a medium risk investment from both a financial and business perspective. We have specifically identified one risk warning in the income statement that investors should be aware of before investing. To learn more about this risk warning, sign up with us and we can provide you with more detailed information. More…
Peers
The competition in the home appliance industry is fierce. Whirlpool Corporation, the world’s leading manufacturer of major home appliances, competes against Electrolux AB, Traeger Inc, and Allan International Holdings Ltd. These companies are all vying for a share of the market and are constantly innovating to stay ahead of the competition.
– Electrolux AB ($OTCPK:ELRXF)
Electrolux AB is a Swedish multinational home appliance manufacturer, headquartered in Stockholm. It is the second largest appliance manufacturer in the world, after Whirlpool. The company also makes appliances for professional use. The company has a market cap of 3.07B as of 2022 and a Return on Equity of 14.67%. The company’s products include refrigerators, dishwashers, washing machines, cookers, vacuum cleaners, air conditioners and small appliances such as microwaves and coffee makers.
– Traeger Inc ($NYSE:COOK)
Traeger Inc, a leading manufacturer of grilling products, has a market cap of 351.16M as of 2022. The company’s Return on Equity is -26.37%. Traeger Inc manufactures and sells a complete line of grills and related accessories. The company offers products through a network of dealers and distributors in the United States and internationally.
– Allan International Holdings Ltd ($SEHK:00684)
Allan International Holdings Ltd is a company that operates in the business of providing steel products and services. The company has a market capitalization of 379.68 million as of 2022 and a return on equity of -1.13%. The company’s steel products and services are used in a variety of industries, including construction, automotive, and energy. Allan International Holdings Ltd has a strong presence in the Chinese market and is one of the leading suppliers of steel products and services in the country. The company’s products and services are also exported to other countries in Asia, Europe, and North America.
Summary
Investors considering Whirlpool Corporation should take note of the company’s second quarter financial performance for FY2023. Total revenue decreased 6.0% to USD 4792.0 million compared to the same period in the prior year, while net income rose 122.9% to USD 85.0 million, indicating a positive shift in the company’s overall performance. Despite the slight decline in revenue, the substantial growth in net income should be considered an encouraging sign for investors. Overall, the second quarter has been a positive indication of Whirlpool Corporation’s potential for growth and strength going forward.
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