Whirlpool: the results of the third quarter

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In the third quarter of 2017, Whirlpool Corporation reached net earnings of 276 million dollar, compared to 238 million reported for the same prior-year period. Net sales were 5.4 billion (5.2 billion in the third quarter of 2016), an increase of more than 3 percent. Besides, the operating profit totaled 331 million, or 6.1 percent of sales, compared to 374 million, or 7.1 percent of sales, in the same prior-year period. Whirlpool North America reported third-quarter net sales of 3 billion, compared to 2.9 billion in the same prior-year period. Whirlpool EMEA registered net sales of 1.3 billion, stable compared to the same period in the previous year. In Asia the company achieved net sales of 357 million (338 million in the third quarter 2016) and in Latin America reported net sales of 849 million (800 million in the same prior-year period). “We are pleased with our revenue growth and free cash flow improvement but are not satisfied with our operating margins, which were impacted by raw material inflation, unfavorable price/mix and slow progress on our European integration – said Marc Bitzer, chief executive officer of Whirlpool Corporation -. Thus, we are implementing strong actions to deliver our long-term goals, including recently-announced global cost-based price increases and a fixed cost reduction initiative”.

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