Whirlpool announces third quarter results; europe transaction clears major milestone; operational priorities on track and delivering substantial cost take out

Net sales growth of approximately 3% with share gains and strong replacement and builder demand in north america gaap net earnings margin of 1.7% (-130bps yoy) and ongoing (non-gaap) ebit margin(1) of 6.5% (+100bps yoy) driven by cost take out actions gaap and ongoing (non-gaap) earnings per diluted(2) share of $1.53 and $5.45, respectively cost take out actions delivered approximately $300 million of year-over-year benefit in the quarter; on track to deliver over $800 million full-year benefit expecting to return approximately $400 million of dividends to shareholders in 2023 the europe transaction is approved by the european commission, germany, austria, and china; u.k's competition and markets authority referred transaction to phase two; expect to close by april 2024 european transaction to unlock significant value creation, post closing expect approximately 150 basis points margin expansion and approximately $250 million annual increased free cash flow revised full-year gaap and ongoing(2) earnings per diluted share to approximately $9.00 and approximately $16.00, respectively; cash provided by operating activities of $1.1 billion and free cash flow(3) of approximately $500 million benton harbor, mich. , oct. 25, 2023 /prnewswire/ -- whirlpool corporation (nyse: whr), today reported third-quarter 2023 financial results.
WHR Ratings Summary
WHR Quant Ranking