Whirlpool Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 26, 2022 at 01:35 am IST
Share
Whirlpool Corporation reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 5,097 million compared to USD 5,324 million a year ago. Net loss was USD 371 million compared to net income of USD 581 million a year ago. Basic loss per share from continuing operations was USD 6.62 compared to basic earnings per share from continuing operations of USD 9.23 a year ago. Diluted loss per share from continuing operations was USD 6.62 compared to diluted earnings per share from continuing operations of USD 9.15 a year ago.
For the six months, sales was USD 10,017 million compared to USD 10,682 million a year ago. Net loss was USD 58 million compared to net income of USD 1,014 million a year ago. Basic loss per share from continuing operations was USD 1 compared to basic earnings per share from continuing operations of USD 16.1 a year ago. Diluted loss per share from continuing operations was USD 1 compared to diluted earnings per share from continuing operations of USD 15.96 a year ago.
Whirlpool Corporation is the world leader of the manufacturing and the marketing of large domestic equipments. The group's products are marketed mainly under the Whirlpool, Maytag, JennAir, KitchenAid, InSinkErator, Yummly, Amana, Bauknecht, Indesit, Hotpoint, Ignis Consul, Brastemp and Acros brands. Net sales break down by family of products as follows:
- refrigerators, freezers and air conditioners (31.7%);
- home laundry appliances (26%): washing machine and dryer;
- cooking appliances (25.6%): oven, microwave ovens, hoods, cooktops;
- dishwasher (9.2%);
- other (2.8%): mixers, toasters, culinary robots, etc.
The remaining net sales (4.7%) are from spare parts sales and after-sales services.
At the end of 2022, the group has 35 production sites worldwide.
Net sales break down geographically as follows: North America (58.2%), Europe/Middle East/Africa (20.4%), Latin America (15.9%) and Asia (5.5%).