Whirlpool Corporation announced accelerated integration activities related to the recently completed acquisitions of Indesit Company and a majority interest in Hefei Rongshida Sanyo Electric. The company has provided guidance for 2015 and adjusting guidance for 2014 to include the expected impact for both transactions. “Both Indesit and Hefei are transformative acquisitions which will enable sustainable growth with a balanced and leading geographic portfolio”, said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation. “By accelerating these integration activities, we expect to increase revenues, drive synergies and grow earnings while continuing to deliver innovative new products to consumers around the globe”.
As regards to 2015 outlook, the company expects to report full-year GAAP (generally accepted accounting principles) net earnings per diluted share of $10.75 to $11.75 which includes acquisition related integration costs. The company expects to report full-year ongoing business earnings per diluted share of $14.00 to $15.00. For full-year 2015, Whirlpool expects to generate free cash flow of $700 million to $800 million.
