Whirlpool Corp (WHR) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 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: Roxanne Warner, 269/923-2641

Investor_Relations@Whirlpool.com

WHIRLPOOL CORPORATION REPORTS STRONG THIRD-QUARTER 2019 RESULTS


•	The Company delivered strong global net earnings margin expansion of 310 basis points (GAAP) driven by a gain on the sale of the Embraco compressor business, favorable price/mix, and cost reduction actions. On an ongoing basis (non-GAAP), the Company delivered solid EBIT⁽²⁾ margin expansion of 100 basis points, excluding the gain on the sale of the Embraco compressor business.


•	The North America region delivered strong EBIT⁽³⁾margin expansion to 12.8 percent, an 80 basis point improvement driven by strong price/mix and focused cost discipline.


•	The Europe, Middle East and Africa (EMEA) region delivered significant year-over-year and sequential EBIT⁽³⁾improvementdriven by the execution of strategic actions to restore profitability.


•	On a full-year basis,the Company decreased its GAAP earnings per diluted share guidance to $16.80 to $17.55; the Company is trending toward the high end of its ongoing earnings per diluted share⁽¹⁾ guidance range of $14.75 to $15.50.


•	The Company reaffirms its full-year cash flow guidance,and strengthened its balance sheet through the repayment of the $1 billion term loan.

BENTON HARBOR, Mich., October 22, 2019

- Whirlpool Corporation (NYSE: WHR) announced today third-quarter GAAP net earnings of $358 million (7.0 percent of sales), or $5.57 per diluted share, compared to $210 million (3.9 percent of sales), or $3.22 per diluted share, reported for the same prior-year period. On a GAAP basis, net earnings margin, or earnings as a percent of sales, was favorably impacted by a gain on the sale of the Embraco compressor business of approximately $511 million, partially offset by product warranty and liability expense of $119 million. GAAP net earnings margin and ongoing EBIT⁽²⁾ margin were favorably impacted by price/mix and focused cost discipline. Third-quarter ongoing earnings per diluted share⁽¹⁾were $3.97, compared to $4.55 in the same prior-year period. The Company's prior-year period GAAP and ongoing earnings per diluted share were favorably impacted by a lower effective tax rate, primarily related to pre-funding of its U.S. pension and other tax planning strategies.

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