Whirlpool Q3 ongoing EPS $5.45 beats prior year; Europe JV cleared by EC, UK phase 2

WHIRLPOOL CORP /DE/

2023-Q3 EPS reported -$0.18 revenue$14,367,000,000

Ongoing (non-GAAP) EPS $5.45 vs $4.49 YoY (+21.4%); GAAP EPS $1.53 vs $2.60 (-41.2%).
Net sales $4.926B (+3% YoY); ongoing EBIT margin 6.5% (+100bps YoY).
Cost takeout delivered ~$300M in Q3; on track for >$800M full-year benefit.
Europe JV approved by EC, Germany, Austria, China; UK CMA to phase 2; close by April 2024.
Revised FY2023 guidance: GAAP EPS ~$9.00, ongoing EPS ~$16.00; FCF ~$500M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WHIRLPOOL CORP /DE/ reported third quarter of 2023 results: revenue $4,926, net income $83, EPS $1.53. Guidance lowered.

Period: third quarter of 2023
Revenue: $4,926
Net income: $83
EPS: $1.53
Guidance: lowered
Result: reported results

Exact text from the filing

a point of share gains in North America.” MARC BITZER 1 KEY RESULTS Quarterly Results Sequential (4) Year-Over-Year Q3 2023 Q2 2023 Change Q3 2023 Q3 2022 Change Net sales ($M) $4,926 $4,792 2.8% $4,926 $4,784 3.0% Net sales excluding currency ($M) $4,918 $4,792 2.6% $4,844 $4,784 1.3% GAAP net earnings (loss) available to Whirlpool ($M) $83 $85 (2.4)% $83 $143

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Source: SEC EDGAR

accession 0000106640-23-000128

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