Whirlpool Corp (WHR) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 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 THIRD-QUARTER 2018 RESULTS


•	GAAP earnings per diluted share were $3.22 compared to $3.72 in the same prior-year period; ongoing earnings per diluted share⁽¹⁾ (non-GAAP) were $4.55, compared to $3.83 in the same prior-year period.


•	The North America region delivered 5 percent revenue growth and strong earnings before interest and taxes (EBIT)⁽³⁾margin, despite slow industry demand and continued cost inflation.


•	The Company recently announced additional cost-based price increases on its U.S. kitchen and Brazil major home appliance businesses.


•	The Company announced new strategic actions to refocus and right size its business in the Europe, Middle East and Africa (EMEA) region.


•	The Company now expects to deliver full-year earnings per share of $(2.90) to $(2.60) on a GAAP basis and $14.50 to $14.80 on an ongoing basis⁽¹⁾, which is at the high end of the previous ongoing range, driven by tax rate favorability and strong North America results.


•	As a result of recent changes in U.S. tax legislation, the Company voluntarily contributed approximately $350 million to lower its long-term pension obligation.


•	The Company now expects to deliver full-year operating cash flow of approximately $1.2 billion and free cash flow⁽⁴⁾(non-GAAP) of approximately $600 million; excluding the impact of discrete voluntary items, free cash flow⁽⁴⁾ is anticipated to be approximately $800 million.

BENTON HARBOR, Mich., October 24, 2018

- Whirlpool Corporation (NYSE: WHR) announced today third-quarter GAAP net earnings of $210 million, or $3.22 per diluted share, compared to $276 million, or $3.72 per diluted share, reported for the same prior-year period. Third-quarter ongoing earnings per diluted share⁽¹⁾were $4.55, compared to $3.83 in the same prior-year period.

“Very impressive results in North America and a favorable tax rate allowed us to deliver our highest quarterly ongoing EPS in our long history, demonstrating our ability to overcome the numerous external challenges we have been facing,” said Marc Bitzer, chief executive

The following information was filed by Whirlpool Corp (WHR) on Wednesday, October 24, 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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