Whirlpool: Expected Shareholder Returns Appear Low, Bonds Offer Relative Value
Jeremy Johnson, CFA
Jeremy Johnson, CFA
Sep. 1, 2015, 7:13 AM
- Aga Rangemaster, the U.K. ovenmaker that agreed to sell itself to Middleby (NASDAQ:MIDD), has received a competing approach from U.S.-based Whirlpool (NYSE:WHR).
- Aga continues to recommend Middleby's agreed $201M offer despite opening its books to Whirlpool.
- Shares of the British range cooker company +11% in London.
- Previously: Middleby to acquire Aga for $202M (Jul. 15 2015)
Aug. 18, 2015, 9:31 AM
- Whirlpool (NYSE:WHR) declares $0.90/share quarterly dividend, in line with previous.
- Forward yield 2.02%
- Payable Sept. 15; for shareholders of record Aug. 28; ex-div Aug. 26.
Aug. 13, 2015, 8:55 AM
- Whirlpool (NYSE:WHR) says it will invest $21M to increase the company's distribution network.
- A new regional distribution center near Chicago will be Whirlpool's 12th full warehouse center.
Jul. 22, 2015, 6:42 AM
- Whirlpool (NYSE:WHR) reports sales rose 25% if the impact of the currency swings is backed out in Q2.
- North American business saw a sales increase of 1.0% to $2.7B after excluding the currency impact.
- Europe, Middle East and Africa business sales grew 79% to $1.3B (+127% excluding the currency impact).
- Whirlpool Latin America revenue fell 18.2% to $0.9B.
- Whirlpool Asia revenue +81% to $381M.
- Gross margin rate increased 57 bps to 17.38%.
- Operating profit margin decreased 30 bps to 6.8%.
- FY2015 Guidance: Diluted EPS: $9.50 to $10.50; Adjusted EPS: $12.00 to $13.00; Free cash flow: ~$700M; Capital expenditure: ~$750M to $800M.
- Unit shipment growth in FY2015: North America: ~4%; EMEA: Flat to +2%; Latin America: ~-15%; Asia: Flat.
Jul. 22, 2015, 6:04 AM
- Whirlpool (NYSE:WHR): Q2 EPS of $2.70 beats by $0.08.
- Revenue of $5.21B (+11.3% Y/Y) misses by $80M.
Jul. 21, 2015, 5:30 PM
Jul. 20, 2015, 11:36 AM
- Whirlpool (WHR -2.7%) trades lower on heavy volume after a short-selling boutique firms issues a negative report.
- Off Wall Street Research fired off a Sell rating on the appliance seller earlier today based off of negative pricing trends.
- Shares of Whirlpool have put in four losing sessions in a row.
Jul. 2, 2015, 10:09 AM
- Whirlpool (WHR -1.4%) has reached a preliminary accord with Italian trade unions not to lay off staff or close down plants in the country.
- The company had been in heavy talks for more than two months following its original restructuring plan to cut almost 2,000 Italian jobs.
- Previously: Whirlpool catches flak in Italy over job cuts (May. 20 2015)
May 20, 2015, 2:39 PM
- Whirlpool (WHR -0.3%) faces pressure in Italy from government officials over a plan to cut nearly 2K jobs as part of a restructuring after buying Indesit.
- The company has been in talks with labor groups in the nation on the same issue.
- Whirlpool says the merger created redundancies which need to be eliminated.
May 19, 2015, 9:55 PM
- Whirlpool (NYSE:WHR) and Anheuser-Busch InBev (NYSE:BUD) starting selling their B.blend machine in Brazil today.
- The B.blend has the distinction of being the first all-purpose beverage maker with its capacity to make hot, cold, or carbonated single-serve drinks.
- A successful launch in the U.S. by the 50-50 partners could set up the product for an international roll-out.
- The development also has potential implications for Keurig Green Mountain (NASDAQ:GMCR), Coca-Cola (NYSE:KO), and SodaStream (NASDAQ:SODA)
May 18, 2015, 3:28 PM
- Whirpool (WHR +0.5%) acquires privately-held American Dryer Corporation for an undisclosed amount.
- American Dryer Corporation manufactures washing machines for commercial uses.
- Whirlpool expects to close on the deal within the next couple of weeks and integrate ADC into its business over the rest of the year.
May 8, 2015, 7:20 AM
May 4, 2015, 11:47 AM
- Whirlpool (WHR +0.1%) has been added to the Best Ideas List at Longbow Research.
- The company issued disappointing guidance last week amid F/X pressure, although some analysts are pointing to underlying strength in key regions and the merger synergies which are set to kick in.
- Shares of Whirlpool are -7.3% YTD.
- Previously: Whirlpool misses by $0.20, misses on revenue (Apr. 28 2015)
- Previously: More on Whirlpool's Q1 (Apr. 28 2015)
- Previously: Whirlpool -7% after guidance disappoints (Apr. 28 2015)
Apr. 28, 2015, 9:14 AM
- Whirlpool (NYSE:WHR) slides after cutting guidance below expectations due to F/X pressure and weak demand in Brazil.
- Acquisitions boosted the top-line revenue mark during the quarter, but full integration benefits haven't been realized yet.
- Previously: Whirlpool misses by $0.20, misses on revenue
- Previously: More on Whirlpool's Q1
- WHR -7.0% premarket to $184.09.
Apr. 28, 2015, 9:12 AM
Apr. 28, 2015, 7:20 AM
- Whirlpool (NYSE:WHR) reports its North American business saw a sales increase of 2.0% to $2.3B after excluding the currency impact.
- Sales were up 85.71% to $1.3B for the Europe, Middle East and Africa business.
- Whirlpool Latin America revenue fell 25% to $0.9B.
- Whirlpool Asia revenue +127.71% to $378M.
- Gross margin rate increased 30 bps to 17.60%.
- Operating profit margin decreased 36 bps to 6.56%.
- FY2015 Guidance: Diluted EPS: $9.00 to $10.00; Adjusted EPS: $12.00 to $13.00; Free cash flow: ~$700M; Capital expenditure: ~$750M to $800M.
- Unit shipment growth in FY2015: North America: ~4%; EMEA: Flat to +2%; Latin America: -10% to -12%; Asia: +1% to +3%.
- WHR -3.96% premarket.
- Q1 results
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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