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WHIRLPOOL CORPORATION REPORTS OUTSTANDING THIRD-QUARTER 2020 RESULTS
Delivered net sales growth of 3.9% globally and organic net sales(5) (non-GAAP) growth of 7.0%, driven by solid industry demand across the globe.
Strong Q3 GAAP net earnings margin of 7.5% (up 50 basis points) and record ongoing (non-GAAP) EBIT margin(2) of 12.0% (up 480 basis points), with three of four regions delivering significant margin expansion.
$500 million cost takeout program (including raw material savings) fully on track, delivering approximately $175 million in the quarter and $350 million year-to-date.
Cash provided by operating activities and free cash flow(4) improved by approximately $1 billion and were positive in the quarter, driven by increased net earnings and disciplined working capital management.
Reinstating full-year 2020 guidance, forecasting earnings per diluted share of $14.90 to $15.40 on a GAAP basis and $17.50 to $18.00 on an ongoing(1) basis; cash provided by operating activities in 2020 of ~$1.2 billion and free cash flow(4) of approximately ~$900 million.
Increased quarterly dividend to $1.25 per share on October 20, 2020, resulting in the eighth consecutive year of dividend increases.
BENTON HARBOR, Mich., October 21, 2020 - Whirlpool Corporation (NYSE: WHR) today reported financial results for the third-quarter of 2020.
“From the outset of this global crisis, we have taken decisive actions to weather the uncertainty and win in the eventual economic recovery. Our results this quarter are a testament to those actions, the exceptional execution by our employees, and the resiliency of our long-term strategy,” said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation. “Looking ahead, while uncertainty remains, our Q3 performance serves as an additional proof-point that we are well-positioned to capitalize on the structural improvements in housing and consumer trends, and firmly demonstrates the viability of our long-term shareholder value creation strategy.”
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 - Marc Bitzer, Chairman and Chief Executive Officer






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The following information was filed by Whirlpool Corp (WHR) on Wednesday, October 21, 2020 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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