Whirlpool announces first-quarter results; significant portfolio transformation milestone

-- europe transaction closed on april 1st; expected to deliver $750m+ net present value of future cash flows and $250-$300m incremental cash flow in 2025 -- strong q1 performance from latin america, asia, and sda global driven by share gains and cost performance, offset by challenging macro environment in north america, as expected -- announced ~5% increase to all promotional program prices in mda north america -- declared $1.75 dividend per share in both q1 & q2; repaid $500 million of term loan in april -- q1 gaap net earnings margin of (5.8)% compared to prior year period of (3.9)%, impacted by a non-cash charge related to the europe transaction; gaap loss per diluted share of $(4.72) -- ongoing (non-gaap) ebit margin(1) of 4.3%; ongoing earnings per diluted share(2) of $1.78 -- expect full-year gaap earnings per diluted share of $5.00 to $7.00 impacted by the non-cash charge related to the europe transaction -- reaffirming full-year ongoing earnings per diluted share(2) of $13.00 to $15.00, cash provided by operating activities of $1.15 to $1.25 billion and free cash flow(3) of $550 to $650 million benton harbor, mich. , april 24, 2024 /prnewswire/ -- whirlpool corporation (nyse: whr), today reported first-quarter 2024 financial results.
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