Whirlpool Corporation (NYSE: WHR), today reported third-quarter 2023 financial results. And the Company’s leadership is feeling quite positive on the numbers they are seeing. Chairman & CEO Marc Bitzer commented:
“We continue to deliver on our operational priorities,” said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation “with a 100 basis point year-over-year ongoing margin expansion and over a point of share gains in North America.”
MARC BITZER
QUARTERLY HIGHLIGHTS
Net sales increase of 3.0% year-over-year and 2.8% sequentially driven by North America share gains and industry strength, partially offset by normalizig promotional environment
Cost take out actions delivered approximately $300 million of year-over-year Q3 benefit, on track to deliver at least $800 million for full year
Declared fourth-quarter dividend of $1.75 per share
” Our cost take out actions are on track to deliver over $800 million, as expected, delivering approximately $300 million benefit this quarter,” said Jim Peters, chief financial officer of Whirlpool Corporation. “These actions, combined with our value creating portfolio transformation, gives us the confidence to continue to fund innovation, growth, and shareholder returns.”
JIM PETERS, EVP & CFO
Bitzer and Peters will sit down with appliance industry analysts and financial reporters at 8 AM Thursday morning. The Quarterly Conference Call is available as a live audio feed on Whirlpool’s Corporate website, as well as a download after its conclusion.
As always, MoodyOnTheMarket.com will have an updated report on the conference call later in the morning.
