8-K
filed January 30, 2023, 6:59 PM ET
ticker WHR
CIK 0000106640
earnings
confidence high
sentiment negative
materiality 0.85
Whirlpool reports FY2022 GAAP net loss of $1.5B; Q4 EPS miss; EMEA JV with Arçelik
WHIRLPOOL CORP /DE/
2022-FY EPS reported
-$27.18
revenue$19,724,000,000
- Full-year GAAP loss per diluted share $(27.18) driven by EMEA transaction; ongoing EPS $19.64, down 26% YoY.
- Q4 net sales $4.9B (-15.3% YoY); North America EBIT margin 5.8% vs 15.3% a year ago due to supply disruption.
- 2023 outlook: GAAP/ongoing EPS $16–$18; FCF ~$800M; expects $800–$900M cost benefit from restructuring and lower inflation.
- Agreed to contribute European MDA business to new JV with Arçelik, creating €6B+ revenue platform; close H2 2023.
- Returned $1.3B to shareholders in 2022, including $0.9B in share repurchases; ended year with $2B cash on hand.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
WHIRLPOOL CORP /DE/ reported Fourth Quarter 2022 results: revenue $4,923, net income $(1,605), EPS $(29.35).
- Period
- Fourth Quarter 2022
- Revenue
- $4,923
- Net income
- $(1,605)
- EPS
- $(29.35)
- Result
- reported results
Exact text from the filing
Fourth Quarter Results 2022 2021 Change Net sales ($M) $4,923 $5,815 $(892) (15.3)% Net sales excluding currency ($M) $5,059 $5,815 $(756) (13.0)% GAAP net earnings (loss) available to Whirlpool ($M) $(1,605) $298 $(1,903) nm Ongoing EBIT (1) ($M) $171 $502 $(331) (65.9)% GAAP earnings (loss) per diluted share $(29.35) $4.90 $(34.25) nm Ongoing earnings per diluted share (2) $3.89 $6.14 $(2.25) (36.6)%
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
WHIRLPOOL CORP /DE/ reported Full-year 2023 results: revenue approximately $19.4 billion, EPS $16.00 to $18.00. Guidance initiated.
- Period
- Full-year 2023
- Revenue
- approximately $19.4 billion
- EPS
- $16.00 to $18.00
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
Expect full-year 2023 revenues of approximately $19.4 billion (down 1 to 2 percent compared to the prior year) • Earnings per diluted share of $16.00 to $18.00 on a GAAP and ongoing basis (2) • Cash provided by operating activities of approximately $1.4 billion and free cash flow (3) of approximately $800 million
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
WHIRLPOOL CORP /DE/ reported Full Year 2022 results: revenue $19,724, net income $(1,519), EPS $(27.18).
- Period
- Full Year 2022
- Revenue
- $19,724
- Net income
- $(1,519)
- EPS
- $(27.18)
- Result
- reported results
Exact text from the filing
Full Year Results 2022 2021 Change Net sales ($M) $19,724 $21,985 $(2,261) (10.3)% Net sales excluding currency ($M) $20,207 $21,985 $(1,778) (8.1)% GAAP net earnings (loss) available to Whirlpool ($M) $(1,519) $1,783 $(3,302) nm Ongoing EBIT (1) ($M) $1,360 $2,379 $(1,019) (42.8)% GAAP earnings (loss) per diluted share $(27.18) $28.36 $(55.54) nm Ongoing earnings per diluted share (2) $19.64 $26.59 $(6.95) (26.1)%
View on SEC.gov
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