| Whirlpool Corporation continues to navigate the pandemic economy, and company officials predict more blue skies ahead. Q2 results were released after the stock market close today, as is normal practice.
Whirlpool saw net sales increase 32 per cent in the 2nd quarter of 2021 over the pandemic-ravaged 2nd Quarter of 2020. And the appliance giant turned those sales into earnings for shareholders. Whirlpool Chairman Marc Bitzer says the plan is working and the year will continue to improve. “We are significantly raising guidance to reflect the strength of our business driven by sustained consumer demand and the successful implementation of our previously announced cost-based pricing initiatives,” said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation. “Our Q2 results together with our record performance over the past three years impressively demonstrate our ability to perform in a volatile environment.” |
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MARC BITZER
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Whirlpool is raising “guidance” estimates for investors for the year, predicting earnings per share of $26, according to Chief Financial Officer Jim Peters.
| “We delivered double-digit revenue growth, expanded EBIT in every region across the globe, and generated significant cash flow while navigating a challenging macroeconomic environment,” said Jim Peters, chief financial officer of Whirlpool Corporation. “Looking ahead, we are confident in our ability to capitalize on the structural improvements we have made in our business over the last number of years and continue to drive shareholder value.” |
| Appliance industry stock analysts will have their opportunity to quiz Bitzer and Peters in the quarterly conference call Thursday morning. Some observers believe despite Whirlpool’s impressive numbers that the company has been harder hit by parts shortages and supply chain issues than some of its competitors. Those detractors claim Whirlpool’s short term cost cutting measures won’t be enough to fuel a long term recovery. Stay tuned. |
