Whirlpool Stock Price, News & Analysis

Whirlpool has launched its new largest-capacity third rack dishwashers in response to increased home cooking during the pandemic. A survey indicates that 63% of homeowners are cooking more often, leading to more dirty dishes. The new line features an adjustable second rack and a three-piece silverware basket for better loading efficiency. Available in various finishes, these dishwashers also include a Leak Detection System to alert users of leaks. Whirlpool continues to position itself as America’s number one preferred dishwasher brand.

Whirlpool Corporation (NYSE: WHR) celebrates Manufacturing Day globally for the first time, honoring manufacturing employees and the company's World Class Manufacturing (WCM) standards. The initiative underscores the importance of manufacturing during COVID-19, emphasizing the commitment to achieving zero injuries, defects, and downtime. CEO Marc Bitzer highlights the critical role of manufacturing in providing essential home appliances. The company aims to inspire diverse talent and emphasizes the significance of STEM education in preparing future manufacturing workers.

Whirlpool's Care Counts™ laundry program aims to support students facing barriers in education due to the COVID-19 pandemic. In its sixth year, the initiative has assisted nearly 90% of participating at-risk elementary students in improving attendance. The program is expanding to 33 regions and 122 schools, addressing the needs of families affected by economic hardships. Research will evaluate the impact of clean clothes on students' emotional well-being and engagement in learning. The program has successfully reduced chronic absenteeism, contributing to better attendance and academic outcomes.

Whirlpool Corporation (NYSE: WHR) has appointed Winn Everhart as Senior Vice President of its U.S. operations, effective October 1, 2020. Everhart joins from Coca-Cola, where he spent nearly 20 years, most recently as General Manager in the Philippines. His responsibilities will encompass U.S. commercial and business operations, reporting to Joe Liotine, President of North America. This new role aims to enhance leadership capacity for growth opportunities domestically and globally.

Whirlpool had approximately $20 billion in annual sales and employs 77,000 people as of 2019.

Whirlpool Corporation's board declared a quarterly $1.20 dividend per share on common stock, payable on September 15, 2020. Shareholders must be on record by the close of business on August 28, 2020. As a leading kitchen and laundry appliance company, Whirlpool reported approximately $20 billion in annual sales, employing about 77,000 people and operating 59 manufacturing and technology research centers worldwide. This dividend underlines the company's commitment to returning value to shareholders.

Whirlpool Corporation (NYSE: WHR) announced that its greenhouse gas emissions reduction targets have been approved by the Science Based Targets initiative (SBTi). This approval underscores Whirlpool's commitment to align its reductions with the Paris Agreement, targeting a 50% decrease in emissions by 2030 from a 2016 baseline. Since 2016, the company has achieved an 18% reduction in emissions through investments in efficiency and renewable energy. Whirlpool continues collaborations for emission solutions and aims for carbon neutrality, reinforcing its sustainability goals amid ongoing global challenges.

On July 23, 2020, Whirlpool released a report showing how household chores can positively impact children's development. Research by Dr. Richard Rende indicates that chores enhance social, emotional, and cognitive skills in children of all ages. Despite a decline in children's participation in chores from 79% in 1997 to 70% in 2020, parents are encouraged to shift their perception of chores to promote engagement. Whirlpool aims to support families with innovative appliances designed to facilitate chore participation, such as the Smart Capable Top Load Washer with Load & Go™ technology.

Whirlpool Corporation (NYSE: WHR) reported challenging financial results for Q2 2020, with net sales dropping to $4.042 billion, a 22.1% decline from $5.186 billion in 2019. The company experienced a significant reduction in GAAP net earnings, falling to $35 million, a 48.2% decrease. Ongoing EBIT also decreased by 42.1% to $210 million. However, the company reported a strong cash position of $2.5 billion and implemented significant cost-cutting measures amid the COVID-19 pandemic. Future outlook anticipates a net sales decline of 10-15% for the year.

Whirlpool Corporation (NYSE: WHR) will announce its second-quarter financial results on July 22, 2020, at 4:10 p.m. ET. A conference call to discuss these results will take place the following day, July 23, 2020, at 8 a.m. ET. Participants can join the call by dialing (866) 393-4306 for domestic calls and (734) 385-2616 for international calls. Live access to the conference call will also be available on the company’s website.

Whirlpool is the world leader in kitchen and laundry appliances, generating approximately $20 billion in annual sales and employing 77,000 people globally.