Whirlpool Corp (WHR) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Whirlpool Corp
Ticker: WHR CIK: 106640

Exhibit 99.1

Contact: Whirlpool Corporation

Media: 269/923-7405

Media@Whirlpool.com

Financial: Max Tunnicliff, 269/923-2641

Investor_Relations@Whirlpool.com

WHIRLPOOL CORPORATION REPORTS STRONG FIRST-QUARTER 2019 RESULTS


•	GAAP net earnings were $471 million, or $7.31 per diluted share, compared to $94 million, or $1.30 in the same prior-year period. Ongoing earnings per diluted share (non-GAAP)⁽¹⁾ of $3.11 were a first-quarter record compared to $2.81 in the same prior-year period.


•	The Company delivered solid earnings before interest and taxes (EBIT)⁽²⁾margin expansion, driven by previously-announced global cost-based pricing benefits and sustained fixed cost discipline.


•	The North America region delivered very strong EBIT⁽³⁾ margin expansion of 90 basis points, despite weak industry demand and continued cost inflation.


•	On a full-year⁽⁵⁾ basis,the Company now expects to deliver earnings per diluted share of $14.05 to $15.05 on a GAAP basis and continues to expect $14.00 to $15.00 on an ongoing basis⁽¹⁾.


•	The Company reaffirms its full-year⁽⁵⁾ guidance 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.


•	Consistent with its balanced approach to capital allocation, the Company announced a 4.3% increase to its quarterly dividend and repurchased $50 million in common stock; the Company intends to continue repurchasing stock throughout the remainder of 2019.


•	The Company will hold an Investor Day in New York City on May 23, 2019.

BENTON HARBOR, Mich., April 22, 2019 - Whirlpool Corporation (NYSE: WHR) announced today first-quarter GAAP net earnings of $471 million, or $7.31 per diluted share, compared to $94 million, or $1.30 per diluted share, reported for the same prior-year period, primarily driven by certain favorable tax related items. First-quarter ongoing earnings per diluted share⁽¹⁾were $3.11, compared to $2.81 in the same prior-year period.

"We delivered another strong quarter with margin expansion and record first-quarter earnings per share despite a soft demand environment in several countries," said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation. “Successful execution

The following information was filed by Whirlpool Corp (WHR) on Monday, April 22, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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