Whirlpool Corp (WHR) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Earnings Press Release
10-K Annual Report
10-K YoY Changes
Whirlpool Corp
Ticker: WHR CIK: 106640

Exhibit 99.1

Contact: Whirlpool Corporation

Media: Whirlpool Corporation Press Office, 269/923-7405

Media@Whirlpool.com

Financial: Christopher Conley, 269/923-2641

Investor_Relations@Whirlpool.com

WHIRLPOOL CORPORATION REPORTS FOURTH-QUARTER AND FULL-YEAR 2016 RESULTS; PROVIDES 2017 GUIDANCE


•	The Company reported record GAAP and ongoing (non-GAAP) earnings per diluted share for the full year; GAAP earnings per diluted share were $11.50, while ongoing business earnings per diluted share⁽¹⁾ were $14.06.


•	In 2017, the Company expects to deliver GAAP earnings per diluted share of $13.25 to $14.25 and ongoing business earnings per diluted share⁽¹⁾of $15.25 to $16.25 through aggressive cost reduction and leveraging its robust pipeline of innovative new products.


•	Also in 2017, the Company expects to generate significant free cash flow⁽³⁾ improvement to approximately $1 billion driven by earnings growth and strong working capital management.


•	The Company continued its balanced approach to capital allocation with $525 million of share repurchases and $294 million in dividend payments for the full year. The Company intends to continue repurchasing stock in 2017.


•	The Company plans to hold an Investor Day in New York City in early May 2017.

BENTON HARBOR, Mich., January 26, 2017 - Whirlpool Corporation (NYSE: WHR) announced today fourth-quarter GAAP net earnings of $180 million, or $2.36 per diluted share, compared to $180 million, or $2.28 per diluted share, reported for the same prior-year period. Fourth-quarter ongoing business earnings per diluted share⁽¹⁾totaled $4.33 compared to $4.10 in the same prior-year period.

"We delivered our fifth consecutive year of record ongoing earnings per share through the continued execution of our long-term strategic priorities," said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation. "We also continued to create value through our capital allocation strategy, funding our innovation programs with strong levels of investment while returning a record $800 million to shareholders through dividends and share repurchases."

Fourth-quarter net sales were $5.7 billion, compared to $5.6 billion in the same prior-year period. Excluding the impact of currency, sales increased over 2 percent.

The following information was filed by Whirlpool Corp (WHR) on Thursday, January 26, 2017 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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