Whirlpool Corp (WHR) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ 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: Max Tunnicliff, 269/923-2641

Investor_Relations@Whirlpool.com

WHIRLPOOL CORPORATION REPORTS SECOND-QUARTER 2018 RESULTS


•	GAAP earnings (loss) per diluted share were $(9.50) compared to $2.52 in the same prior-year period; ongoing earnings per diluted share⁽¹⁾ (non-GAAP) were $3.20, compared to $3.35 in the same prior-year period.


•	On a GAAP basis, second-quarter non-cash items negatively impacted results by approximately $860 million, including asset impairment charges related to the EMEA region and a preliminary settlement with the French Competition Authority ("FCA").


•	The Company delivered significant global price/mix improvement year-over-year and sequentially, and delivered positive price/mix in all regions.


•	The North America region reported strong earnings before interest and taxes (EBIT)⁽³⁾ margin of 11.9 percent despite temporary U.S. industry weakness and significant cost inflation.


•	Following weak EMEA performance, the Company is taking strong actions to restore profitability in the second half of 2018.


•	The Company now expects to deliver full-year earnings per share of $0.15 to $0.75 on a GAAP basis and $14.20 to $14.80 on an ongoing basis⁽¹⁾.


•	The Company now expects to deliver full-year operating cash flow of approximately $1.5 billion and free cash flow of approximately $850 million⁽⁴⁾.


•	As previously announced, the Company repurchased $1 billion of common stock with the anticipated proceeds from the sale of its Embraco compressor business; the Company intends to repurchase common stock throughout the remainder of 2018.

BENTON HARBOR, Mich., July 23, 2018

- Whirlpool Corporation (NYSE: WHR) announced today second-quarter GAAP net earnings (loss) of $(657) million, or $(9.50) per diluted share, compared to $189 million, or $2.52 per diluted share, reported for the same prior-year period. Second-quarter ongoing earnings per diluted share⁽¹⁾were $3.20, compared to $3.35 in the same prior-year period.

“We are pleased to deliver margin expansion in a very challenging cost environment, driven by strong North America margins and significant global price/mix improvement during the

The following information was filed by Whirlpool Corp (WHR) on Monday, July 23, 2018 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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