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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) improvement driven 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.
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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