Exhibit 99.1
Contact: Whirlpool Corporation
Media: Whirlpool Corporation Press Office, 269/923-7405
Media@Whirlpool.com
Financial: Max Tunnicliff, 269/923-2641
Investor_Relations@Whirlpool.com
  

WHIRLPOOL CORPORATION REPORTS THIRD-QUARTER 2017 RESULTS

GAAP earnings per diluted share were $3.72 compared to $3.10 in the same prior-year period; ongoing earnings per diluted share(1) (non-GAAP) were $3.83 compared to $3.66 in the same prior-year period.
Cash used in operating activities improved by $142 million and free cash flow(3) improved by $118 million, compared to the same prior-year period, primarily driven by a strong focus on working capital optimization.
The North America region reported 5 percent revenue growth and 11.7 percent operating margin, despite a 90 basis point raw material cost increase.
The Company announced global cost-based price increases on a majority of its business to offset the impact of sustained raw material inflation.
The Company also announced a $150 million fixed cost reduction initiative, which is in addition to ongoing cost productivity efforts.
The Company revises its full-year earnings per diluted share guidance to a range of $11.10 to $11.40 on a GAAP basis and $13.60 to $13.90 on an ongoing basis, driven by unfavorable raw material inflation and product price/mix.
The Company revises its full-year operating cash flow guidance to a range of $1.55 billion to $1.6 billion and free cash flow guidance to approximately $900 million.
The Company repurchased approximately $200 million of common stock during the third quarter and plans to continue repurchasing common stock this year.
BENTON HARBOR, Mich., October 23, 2017
- Whirlpool Corporation (NYSE: WHR) announced today third-quarter GAAP net earnings of $276 million, or $3.72 per diluted share, compared to $238 million, or $3.10 per diluted share, reported for the same prior-year period. GAAP net earnings were positively impacted by lower income tax expense of approximately $65 million, compared to the same prior-year period, driven by the timing of tax planning activities in the current-year period. Third-quarter ongoing earnings per diluted share(1) totaled $3.83 compared to $3.66 in the same prior-year period.


1

The following information was filed by Whirlpool Corp (WHR) on Monday, October 23, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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