WHIRLPOOL CORPORATION Reports Fourth Quarter Financial Results for Fiscal Year 2022
March 25, 2023
Earnings Overview
WHIRLPOOL CORPORATION ($NYSE:WHR) reported total revenue of USD -1605.0 million for their fourth quarter of fiscal year 2022 ending on January 30, 2023, compared to the same period the year prior, a decrease of 638.6%. Net income for the quarter was USD 4923.0 million, a decrease of 15.3% from the previous year.
Transcripts Simplified
WHIRLPOOL expects to see a 1%-2% revenue decline in 2023 due to softer consumer demand and sentiment, particularly in North America and EMEA. They expect to expand their ongoing EBIT margins to 7.5% and deliver $800 million in free cash flow. They expect their ongoing tax rate to be between 14% and 16% and their interest cost to be approximately $325 million. Full year ongoing EPS is expected to range from $16 to $18. WHIRLPOOL expects their North American region to deliver a full year margin of 12%, with the region exiting the year with margins of 14%.
EMEA is expected to deliver 2.5%. Latin America is expected to deliver 7%. Lastly, Asia is expected to deliver 5.5%.
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 |
| 19.72k | -1.52k | -0.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Whirlpool Corporation. More…
| Operations | Investing | Financing |
| 1.39k | -3.57k | 1.21k |
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 |
| 17.12k | 14.62k | 43.26 |
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 |
| -1.1% | -2.7% | -5.3% |
| FCF Margin | ROE | ROA |
| 4.2% | -19.9% | -3.8% |
Share Price
The company’s stock opened at $152.1 and closed at $153.5, down 0.4% from its previous closing price of 154.1. Despite the drop in its share price, WHIRLPOOL CORPORATION reported a 3% increase in its net sales compared to the same period last year. The company has attributed its success to strong demand for its products and services, as well as its aggressive cost-cutting measures.
Looking ahead, WHIRLPOOL CORPORATION is committed to maintaining its position as an industry leader by continuing to focus on product innovation, cost-efficiency and providing exceptional customer service. With a broad portfolio of products and services, the company is confident that it will continue to be successful in the coming quarters. Live Quote…
Analysis
At GoodWhale, we recently conducted a financial analysis on WHIRLPOOL CORPORATION. The outcome of the analysis resulted in a medium risk investment rating for WHIRLPOOL CORPORATION in terms of financial and business aspects. We have also detected one risk warnings in the income sheet of WHIRLPOOL CORPORATION. To gain further insight into this risk, feel free to register with us for more information. More…
Peers
The competition in the home appliance industry is fierce. Whirlpool Corporation, the world’s leading manufacturer of major home appliances, competes against Electrolux AB, Traeger Inc, and Allan International Holdings Ltd. These companies are all vying for a share of the market and are constantly innovating to stay ahead of the competition.
– Electrolux AB ($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
Whirlpool Corporation reported a significant year-over-year decrease in total revenue for the fourth quarter of their fiscal year ending in 2023. Net income also decreased 15.3% from the previous year. Investors should keep a close eye on the company’s progress going forward, as this could be indicative of future performance. Additionally, any potential turnaround strategies should be closely monitored as they could significantly affect the company’s financial results in the coming quarters.
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