Whirlpool Q4 net sales +3.4%; FY2024 ongoing EPS guidance $13-$15 vs $16.16 in 2023

WHIRLPOOL CORP /DE/

2023-FY EPS reported $8.72 revenue$19,455,000,000

Q4 net sales $5.09B (+3.4% YoY), GAAP EPS $8.90, ongoing EPS $3.85; ongoing EBIT margin 5.2% (+170bps).
FY2023 net sales $19.46B (-1.4%), GAAP EPS $8.72, ongoing EPS $16.16 (-17.7% YoY); $800M cost takeout.
FY2024 guidance: ongoing EPS $13.00-$15.00; net sales ~$16.9B flat like-for-like; free cash flow $550-$650M.
Expects Europe transaction with Arcelik to close by April 2024; MDA Europe deconsolidated upon close.
Plans additional $300-$400M cost takeout and $500M debt reduction in 2024; ~$400M in dividends.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WHIRLPOOL CORP /DE/ updated its fourth quarter and full year of 2023 guidance (initiated).

Period: fourth quarter and full year of 2023
Guidance: initiated
Result: reported results

Exact text from the filing

On January 29, 2024, Whirlpool Corporation issued a press release providing information regarding earnings for the fourth quarter and full year of 2023.

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Source: SEC EDGAR

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