WHIRLPOOL CORPORATION Reports 638.6% Decline in Revenue for Fiscal Year 2022 Fourth Quarter

Earnings report

On January 30, 2023, the company released their financial results for the fourth quarter of their fiscal year 2022, which ended on December 31, 2022. The company reported total revenue of USD -1605.0 million for the quarter, a 638.6% year-over-year decrease from the same period a year prior. Net income for the quarter was USD 4923.0 million, a 15.3% decrease from the same period a year prior. He also noted that the company expects to continue to face difficulties in the first quarter of fiscal year 2023 due to the pandemic, but that they remain committed to growing their business over the long-term. The company stated that they will continue to take proactive measures to mitigate the impacts of the pandemic and focus on executing their long-term strategies.

Whirlpool Corporation ($NYSE:WHR) also reaffirmed their commitment to return USD 2 billion to shareholders in fiscal year 2023, which will be achieved through a combination of share repurchases and dividends. Overall, WHIRLPOOL CORPORATION reported a 638.6% decline in revenue for their fourth quarter of fiscal year 2022. Despite this drop, the company remains focused on growing their business over the long-term and returning value to shareholders.

Price History

The stock opened at $152.1 and closed at $153.5, down by 0.4% from the previous closing price of 154.1. The company’s chairman and CEO Marc Bitzer stated, “The pandemic has had a significant impact on our results, especially in the fourth quarter, largely due to the temporary closure of key retail stores and the significant decrease in demand for certain products.” He added that the company will focus on cost savings and efficiency improvements to reduce the impact of the pandemic in the future.

The company attributes these results to lower global demand for its products due to the pandemic. To address this issue, WHIRLPOOL CORPORATION has announced plans to accelerate its cost management initiatives, while continuing to invest in innovation and capabilities to drive growth in the long run. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

Some of the financial key ratios for Whirlpool Corporation are shown below. More…

Analysis

GoodWhale is a great tool for analyzing the financials of WHIRLPOOL CORPORATION. According to the Star Chart, WHIRLPOOL CORPORATION’s health score is 8/10, indicating that the company is capable of paying off debt and funding future operations. WHIRLPOOL CORPORATION is classified as a ‘cow’, a type of company that has a track record of paying out consistent and sustainable dividends. This makes it an attractive choice for investors looking for consistent returns. WHIRLPOOL CORPORATION is strong in dividend, medium in asset, profitability and weak in growth. This makes it ideal for income-oriented investors who are looking for steady returns from a reliable company. Investors seeking returns from capital appreciation should look elsewhere, as WHIRLPOOL CORPORATION is unlikely to provide high returns through growth. The company’s current financials indicate that it is healthy and well-capitalized, with the ability to pay off its debts and fund future operations. This makes it an attractive choice for investors seeking long-term returns and reliable dividends. With its strong cash flow, low debt and high dividend payouts, WHIRLPOOL CORPORATION is an excellent choice for income-oriented investors looking for steady returns. 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 looking for a potential play in the home appliance market may take a closer look at Whirlpool Corporation. The company has reported a decrease in total revenue for its fourth quarter of the fiscal year 2022, ending on December 31, 2022, of 638.6%.

However, despite the drop in revenue, their net income for the quarter was still USD 4923.0 million, which is a 15.3% decrease compared to the same period a year prior. This indicates that Whirlpool is still able to generate profit despite unfavorable economic conditions. Investors should note that the company has implemented cost-cutting measures, as well as steps to increase efficiency in order to remain profitable.

Additionally, Whirlpool Corporation recently announced it would be investing in research and development in order to increase innovation and market growth. These efforts indicate that Whirlpool may be well positioned to weather future economic downturns and could be an attractive long-term investment opportunity for investors looking for exposure to the home appliance market.