Whirlpool: Expected Shareholder Returns Appear Low, Bonds Offer Relative Value
Jeremy Johnson, CFA
Jeremy Johnson, CFA
Tue, Feb. 16, 10:59 AM
Thu, Feb. 4, 7:46 AM
Fri, Jan. 29, 6:19 AM
- Whirlpool (NYSE:WHR) reports sales rose 4% if the impact of the currency swings is backed out in Q4.
- North America net sales improved 3.6% to $2.9B (+6% excluding the currency impact).
- Europe, Middle East and Africa net sales dropped 11.8% to $1.5B (+8% excluding the currency impact).
- Whirlpool Latin America net sales fell 38.5% to $0.8B (-8% excluding the currency impact).
- Whirlpool Asia net sales expanded 10.6% to $312M (+15% excluding the currency impact).
- Gross margin rate increased 90 bps to 18%.
- Adjusted operating margin rate grew 80 bps to 8.4%.
- FY2016 Guidance: Diluted EPS: $11.25 to $12; Adjusted EPS: $14 to $14.75; Free cash flow: $700M to $800M; Capital expenditure: $700M to $750M.
- Unit shipment growth in FY2016: North America: +5%; EMEA: Flat to +2%; Latin America: -10%; Asia: Flat Y/Y.
Fri, Jan. 29, 6:02 AM
- Whirlpool (NYSE:WHR): Q4 EPS of $4.10 beats by $0.19.
- Revenue of $5.56B (-7.3% Y/Y) misses by $180M.
Thu, Jan. 28, 5:30 PM
Dec. 16, 2015, 11:07 AM
- Whirlpool (WHR +3.2%) announces it filed an antidumping petition with the Department of Commerce.
- The complaint is aimed at the practices of Samsung and LG.
- "Our ability to innovate, invest and continue to manufacture here in the U.S. is undermined when foreign competitors willfully defy U.S. government rulings," reads a company statement.
Nov. 30, 2015, 9:03 AM
- Sears Hometown and Outlet Stores (NASDAQ:SHOS) continues to transition stores to a higher percentage of floor space dedicated to appliances and home designs.
- The company's "America Appliance Experts" initiative is now at 180 Sears Hometown stores in the U.S.
- Brands owned by Whirpool (NYSE:WHR) could benefit from the increased push by Sears to sell appliances.
Nov. 5, 2015, 11:09 AM
- The Department of Justice is pressuring Electrolux (OTCPK:ELUXY) to divest its entire U.S. business, according to Bloomberg.
- The Swedish company plans to go to court in defense of the effort to buy GE's (GE -0.6%) appliances business. A lawyer for Electrolux says settlement talks with the DOJ have ended.
- Electrolux ADRs are down 2.5%, while home appliance giant Whirlpool (NYSE:WHR) is down 2.2%.
Oct. 26, 2015, 12:45 PM
- Whirlpool (WHR +3.6%) trades higher after Raymond James notes the company's exposure to emerging markets is declining. The shift in sales mix could help margins.
- Whirlpool's sales increased 25% in Q3 before F/X whacked off a full 16 percentage points.
- The investment firm has shares of Whirlpool rated at Strong Buy with a $201 price target. Whirlpool hasn't traded over $200 since early last April.
Oct. 23, 2015, 6:25 AM
- Whirlpool (NYSE:WHR) reports sales rose ~25% if the impact of the currency swings is backed out in Q3.
- North America net sales were flat Y/Y at $2.8B (+3% excluding the currency impact).
- Europe, Middle East and Africa net sales increased 85% to $1.5B (+127% excluding the currency impact).
- Whirlpool Latin America net sales declined 27.3% to $0.8B (-7% excluding the currency impact).
- Whirlpool Asia net sales grew 120% to $346M (+127% excluding the currency impact).
- Gross margin rate improved 50 bps to 17.6%.
- Operating margin rate decreased 70 bps to 6.2%.
- FY2015 Guidance: Diluted EPS: $9.75 to $10.25; Adjusted EPS: $12 to $12.50; Free cash flow: ~$600M to $700M; Capital expenditure: ~$700M to $750M.
- Unit shipment growth in FY2015: North America: ~5%; EMEA: Flat to +2%; Latin America: ~-20%; Asia: ~-2%.
Oct. 23, 2015, 6:02 AM
- Whirlpool (NYSE:WHR): Q3 EPS of $3.45 beats by $0.16.
- Revenue of $5.28B (+9.5% Y/Y) misses by $130M.
- Shares +1.71% PM.
Oct. 22, 2015, 5:30 PM
Oct. 21, 2015, 8:35 AM
- Whirlpool (NYSE:WHR) names long-time exec Marc Bitzer as Chief Operating Officer and adds the exec to the board of directors.
- Bitzer will have responsibility for all of the company's global operations.
Oct. 21, 2015, 6:11 AM
- Whirlpool (NYSE:WHR) declares $0.90/share quarterly dividend, in line with previous.
- Forward yield 2.31%
- Payable Dec. 15; for shareholders of record Nov. 20; ex-div Nov. 18.
Oct. 13, 2015, 10:54 AM
- ICSC forecasts holiday retail sales will increase 3.3%. The mark is lower than the estimates from the NRF (+3.7%) and FTI Consulting (+3.9%).
- The research firm sees the furniture/home furnishings category (BSET, PIR, WSM, ETH, KIRK, HOFT, RH, KIRK) leading the way with sales growth of 4.9%.
- The estimates for the electronics and appliance stores category (BBY, CONN, HGG, WHR) is on the sluggish end with an 1.1% gain seen.
- The average yearly gain in holiday retail sales over the last ten years is +1.8%.
Sep. 11, 2015, 2:08 PM| Sep. 11, 2015, 2:08 PM
Whirlpool Corp. manufactures and markets home appliances. Its principal products include home laundry appliances, home refrigerators and freezers, home cooking appliances, home dishwashers, and room air-conditioning equipment, mixers, and other portable household appliances. The company markets... More
Sector: Consumer Goods
Country: United States
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