Whirlpool Corp (WHR) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Home SEC Filings Whirlpool Corp (WHR) 10-K Annual Report Tue Feb 12 2019
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 FOURTH-QUARTER AND FULL-YEAR 2018 RESULTS; PROVIDES 2019 GUIDANCE

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Fourth-quarter GAAP earnings per diluted share were $2.64, compared to $(3.74) in the same prior-year period, while ongoing earnings per diluted share (non-GAAP)(1) were $4.75 compared to $4.10 in the same prior-year period.
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The North America region delivered fourth-quarter revenue growth of approximately 5 percent and strong earnings before interest and taxes (EBIT)(3) margin expansion, despite soft industry demand and continued cost inflation.
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The EMEA region delivered sequential quarterly improvement in unit volumes and EBIT(3) margin, in-line with expectations.
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Cash provided by operating activities declined $35 million to $1.2 billion, and free cash flow(4) improved $146 million to $853 million, compared to the prior year.
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In 2019(5), the Company expects to deliver earnings per diluted share of $12.75 to $13.75 on a GAAP basis and $14.00 to $15.00 on an ongoing basis(1).
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The Company expects to generate cash provided by operating activities of approximately $1.4 billion to $1.5 billion and free cash flow(4) of approximately $800 million to $900 million in 2019(5).
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The Company plans to hold an Investor Day in New York City on May 23, 2019.
BENTON HARBOR, Mich., January 28, 2019 - Whirlpool Corporation (NYSE: WHR) announced today fourth-quarter GAAP net earnings of $170 million, or $2.64 per diluted share, compared to $(268) million, or $(3.74) per diluted share, reported for the same prior-year period. Fourth-quarter ongoing earnings per diluted share(1) were $4.75, compared to $4.10 in the same prior-year period.
“Sustained focus on our successful execution of price increases and disciplined working capital reduction, coupled with a favorable tax rate, allowed us to deliver very strong fourth-quarter earnings and cash which exceeded our most recent guidance,” said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation. “These results impressively demonstrate that we effectively manage through macroeconomic volatility, and provide additional confidence in our ability to drive positive results in 2019.”

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The following information was filed by Whirlpool Corp (WHR) on Monday, January 28, 2019 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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Ticker: WHR
CIK: 106640
Form Type: 10-K Annual Report
Accession Number: 0000106640-19-000016
Submitted to the SEC: Tue Feb 12 2019 10:10:12 AM EST
Accepted by the SEC: Tue Feb 12 2019
Period: Monday, December 31, 2018
Industry: Household Appliances

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