Welcome to our dedicated page for Whirlpool news (Ticker: WHR), a resource for investors and traders seeking the latest updates and insights on Whirlpool stock.
Whirlpool Corporation reports developments in home appliances, including kitchen and laundry products sold under brands such as Whirlpool, KitchenAid, JennAir, Maytag, Amana, Brastemp, Consul and InSinkErator. News commonly covers financial results, margin actions, pricing and cost initiatives, inventory and working-capital updates, and performance in major domestic appliance operations.
Company updates also include brand-level product launches, such as KitchenAid small appliances and Maytag promotions, U.S. manufacturing investments for washer and dryer components, and corporate responsibility reporting tied to product efficiency, operational emissions and value-chain initiatives.
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Whirlpool Corporation (NYSE: WHR) has sold its original manufacturing campus in Cleveland, Tennessee, to Phoenix Investors. The sale includes approximately 77 acres and a 150,000 sq. ft. distribution warehouse. Whirlpool, which built a new plant in Cleveland in 2012, has ensured the new owners will collaborate with local officials to maximize the property’s positive impact on the community. The company remains committed to Cleveland, being a significant employer with around 2,000 employees in the area.
Whirlpool Corporation (NYSE: WHR) conducted a global study involving over 19,000 participants to identify consumer preferences for home innovations. Results highlight a strong preference for energy-efficient appliances (51%) and environmentally friendly products. Smart appliances remain underutilized, with only 5% of features activated. The company emphasizes its commitment to sustainability and innovation, including energy-efficient appliances and new functionalities. Additionally, Whirlpool collaborates with Habitat for Humanity to provide energy-saving appliances, potentially reducing electric costs by over 20% for low-income households.
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Whirlpool Corporation (NYSE: WHR) announced a significant investment of over $65 million in its Ottawa, Ohio plant to transform it into a premium refrigeration manufacturing facility. This initiative will enable production of Built-In Refrigerators (BIR) and is expected to create more than 100 jobs. Plant expansion is slated to start in mid-2022, with full production commencing in 2023. The investment reflects Whirlpool's commitment to innovation and competitive advantage in the BIR market, backed by support from JobsOhio and local officials.
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Whirlpool Corporation (NYSE: WHR) announced its Q3 2021 financial results, reporting net sales of $5,488 million, a 3.7% increase year-over-year. GAAP net earnings rose by 20.2% to $471 million, with GAAP earnings per diluted share at $7.51. The company increased its earnings per share guidance to ~$26.25. Despite strong cash flow of $1,294 million, ongoing EBIT decreased by 3.2% to $608 million. Whirlpool aims for 5-6% annual sales growth and strong cash flow generation, signaling resilience amid market challenges.
On October 18, 2021, Whirlpool Corporation announced a quarterly dividend of $1.40 per share on its common stock. The dividend is scheduled for payment on December 15, 2021, for stockholders of record as of November 19, 2021. With around $19 billion in annual sales and a global workforce of 78,000, Whirlpool continues to focus on innovation in kitchen and laundry products.
On October 15, 2021, Whirlpool Corporation announced the launch of its House + Home World Tour in partnership with Habitat for Humanity International. The initiative will provide over $6 million in funding and energy-efficient appliances to support home construction and repairs across several countries, including the U.S., Canada, Mexico, and the UK. Whirlpool is also sponsoring global housing forums and has committed to building more than 250 climate-resilient homes through its BuildBetter with Whirlpool initiative over the next three years.