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

Whirlpool Corp

CIK: 106640 Ticker: WHR
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

1

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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Inside Whirlpool Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Condensed Balance Sheets
Consolidated Condensed Balance Sheets (Parenthetical)
Consolidated Condensed Statements Of Cash Flows (Unaudited)
Consolidated Condensed Statements Of Comprehensive Income (Loss) (Unaudited)
Assets And Liabilities Held For Sale
Assets And Liabilities Held For Sale (Details)
Assets And Liabilities Held For Sale (Tables)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Basis Of Presentation (Tables)
Cash, Cash Equivalents And Restricted Cash
Cash, Cash Equivalents And Restricted Cash (Details)
Cash, Cash Equivalents And Restricted Cash (Tables)
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Commitments And Contingencies (Tables)
Commitments And Contingencies - Guarantees (Details)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Schedule Of Product Warranty Reserves (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Measurements - Level 3 Assets Measured At Fair Value On A Nonrecurring Basis (Details)
Fair Value Measurements - Narrative (Details)
Financing Arrangements
Financing Arrangements (Tables)
Financing Arrangements - Narrative (Details)
Financing Arrangements - Notes Payable (Details)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (Tables)
Goodwill And Other Intangibles - Narrative (Details)
Goodwill And Other Intangibles - Schedule Of Goodwill (Details)
Goodwill And Other Intangibles - Schedule Of Other Intangible Assets (Details)
Hedges And Derivative Financial Instruments
Hedges And Derivative Financial Instruments (Tables)
Hedges And Derivative Financial Instruments - Narrative (Details)
Hedges And Derivative Financial Instruments - Schedule Of Effects Of Derivative Instruments On Consolidated Condensed Statements Of Income (Details)
Hedges And Derivative Financial Instruments - Schedule Of Net Investment Hedging (Details)
Hedges And Derivative Financial Instruments - Schedule Of Outstanding Derivative Contracts (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Summary Of Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Pension And Other Postretirement Benefit Plans
Pension And Other Postretirement Benefit Plans (Tables)
Pension And Other Postretirement Benefit Plans - Narrative (Details)
Pension And Other Postretirement Benefit Plans - Net Periodic Costs Recognized In Operating Profit And Interest And Sundry (Income) Expense (Details)
Pension And Other Postretirement Benefit Plans - Summary Of Components Of Net Periodic Pension Costs (Details)
Property, Plant &Amp; Equipment
Property, Plant &Amp; Equipment (Details)
Property, Plant &Amp; Equipment (Tables)
Restructuring Charges
Restructuring Charges (Tables)
Restructuring Charges - By Segment (Details)
Restructuring Charges - Change In Restructuring Liability (Details)
Restructuring Charges - Narrative (Details)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Tables)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Net Earnings Per Share (Details)
Stockholders' Equity - Other Comprehensive Income (Details)
Stockholders' Equity - Reclassifications Out Of Accumulated Other Comprehensive Income (Loss) (Details)
Stockholders' Equity - Schedule Of Changes In Stockholders' Equity (Details)
Stockholders' Equity - Share Repurchase Program (Details)
Ticker: WHR
CIK: 106640
Form Type: 10-Q Quarterly Report
Accession Number: 0000106640-18-000077
Submitted to the SEC: Thu Oct 25 2018 12:21:26 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Household Appliances

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