Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Whirlpool Reports Record 1Q Operating Profit
Apr 29, 2014
 Printable format
 Email this Article
 Search

Whirlpool Corp. (Benton Harbor, MI) reported first-quarter 2014 GAAP net earnings of $160 million, from $252 million in the first quarter of 2013. Net sales in 1Q 2014 were $4.4 billion, from $4.2 billion in 1Q 2013. Excluding currency and Brazilian (BEFIEX) tax credit impacts, sales were up about 6% in the quarter.

Record first-quarter GAAP operating profit was $281 million, up from $254 million in 1Q 2013.

Ongoing business operating profit was $302 million, or 6.9% of sales, from $280 million, or 6.6% of sales, in 1Q 2013. The company said higher sales, favorable product price and mix, ongoing cost productivity initiatives and cost- and capacity-reduction initiatives all helped offset higher material costs, currency impacts, and increased investments in marketing, technology. and products.

Whirlpool reaffirmed its previously announced full-year net earnings per diluted share.

"We remain confident in our ability to deliver a record year of performance in 2014 and in our long-term growth strategy," said Jeff M. Fettig, Whirlpool Corp. chairman and CEO.

Whirlpool North America reported 1Q 2014 net sales of $2.3 billion, up more than 4% from 1Q 2013’s $2.2 billion. Operating profit was $228 million, 9.8% of sales, from 1Q 2013’s $218 million, or 9.7% of sales. The company expects full-year 2014 industry unit shipments to increase 5-7%.

Whirlpool Europe, Middle East and Africa reported 1Q 2014 net sales of $720 million, from 1Q 2013’s $668 million. Excluding currency impacts, sales were up about 4%. Operating profit in 1Q 2014 were $7 million, or 1.0% of sales, compared to an operating loss of $8 million in the same prior-year period. Full-year 2014 industry unit shipments are expected to be to be up 0-2%.

Whirlpool Latin America had 1Q 2014 net sales of $1.2 billion, from 1Q 2013’s $1.2 billion. Excluding the impact of currency and BEFIEX tax credits, sales were up about 11%.

Operating profit in 1Q 2014 was $123 million, from 1Q 2013’s $130 million. First-quarter ongoing business segment operating profit was $109 million, or 9.2% of sales, from $114 million, or 9.6% of sales, in 1Q 2013. Whirlpool Corp. expects full-year 2014 industry unit shipments to be flat.

Whirlpool Asia reported 1Q 2014 net sales of $166 million, from 1Q 2013’s $187 million. Excluding currency impacts, sales were down about 4%.

Operating profits in 1Q 2014 were $5 million, 2.9% of sales, from 1Q 2013’s $3 million, or 1.7% of sales. The company expects full-year 2014 industry unit shipments to be up 0-3%.

Back to Daily News

 

Daily News

...........................................................

Jul 21, 2014: Electrolux Sees Continued Improvement in European, North American Major Appliance Markets

Jul 21, 2014: Briggs and Stratton Plans to Scale Back Snapper Brand and Close Georgia Plant

Jul 18, 2014: Whirlpool to Pay $1 Billion for Indesit

Jul 18, 2014: BSH North America CEO Traub Leaving, Michael Steinle Taking Over

Jul 18, 2014: Report: Indians Spent $150 Million for Water Purifiers

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows