WHIRLPOOL CORPORATION REPORTS RECORD FOURTH-QUARTER AND FULL-YEAR 2015 RESULTS
Record Ongoing Operating Margin, Revenue and EPS in 2015
Company Anticipates Sales Growth and Margin Expansion to Continue;
Expects 15%+ EPS Growth in 2016
BENTON HARBOR, Mich., January 29, 2016 - Whirlpool Corporation (NYSE: WHR) announced today fourth-quarter GAAP net earnings of $180 million, or $2.28 per diluted share, compared to $81 million, or $1.02 per diluted share, reported for the same prior-year period. Ongoing business earnings per diluted share(1) totaled a record $4.10 compared to $3.52 in the same prior-year period, primarily driven by acquisition synergies, the benefits of cost and capacity-reduction initiatives, ongoing cost productivity and improved price/mix.
Net sales in the quarter were $5.6 billion compared to $6.0 billion during the same prior-year period. Excluding the impact of currency, sales increased by 4 percent.
"Our strong operational execution delivered another year of record revenue and earnings per share along with strong free cash flow,” said Jeff M. Fettig, Chairman and chief executive officer of Whirlpool Corporation. “These record results demonstrate that our strategy and larger global operating platform continue to create substantial levels of shareholder value even in a year of unprecedented volatility in global markets.”
The following information was filed by Whirlpool Corp (WHR) on Friday, January 29, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: WHR CIK: 106640 Form Type:10-K Annual Report Accession Number: 0000106640-16-000068 Submitted to the SEC: Tue Feb 16 2016 4:59:25 PM EST Accepted by the SEC: Tue Feb 16 2016 Period: Thursday, December 31, 2015 Industry: Household Appliances