Exhibit 99.1
Contact: Whirlpool Corporation
Media: 269/923-7405
Financial: Max Tunnicliff, 269/923-2641


GAAP net earnings were $67 million, or $1.04 per diluted share, compared to $(657) million, or $(9.50) in the same prior-year period. Non-cash items negatively impacted prior-year results.
Record second-quarter ongoing earnings per diluted share (non-GAAP)(1) of $4.01, a 25 percent increase compared to $3.20 in the same prior-year period.
The Company delivered solid ongoing earnings before interest and taxes (EBIT)(2) margin expansion to 7 percent, driven by previously-announced global cost-based pricing benefits and sustained fixed cost discipline.
The North America region delivered strong EBIT(3) margin of 12.4 percent, a 50 basis point improvement compared to the same prior-year period.
On a full-year basis, the Company raises guidance and now expects to deliver earnings per diluted share of $17.80 to $18.55 on a GAAP basis and $14.75 to $15.50 on an ongoing basis(1).
The Company updates its full-year guidance(5) and now expects to generate cash provided by operating activities of approximately $1.4 billion and free cash flow(4) of approximately $800 million.
Consistent with its disciplined approach to capital allocation, the Company intends to repay its outstanding $1 billion term loan with the net cash proceeds received from the closing of the Embraco sale, and intends to continue repurchasing stock throughout the remainder of 2019.
BENTON HARBOR, Mich., July 22, 2019
- Whirlpool Corporation (NYSE: WHR) announced today second-quarter GAAP net earnings of $67 million, or $1.04 per diluted share, compared to $(657) million, or $(9.50) per diluted share, reported for the same prior-year period. Non-cash items negatively impacted prior-year results by approximately $860 million. Second-quarter ongoing earnings per diluted share(1) were $4.01, compared to $3.20 in the same prior-year period.
"At our recent Investor Day, we laid out a robust strategy for creating shareholder value and our excellent second-quarter results impressively demonstrate that we are on track," said


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