Whirlpool Corporation: net sales increase by 9% in the third quarter

0
2350
Jeff M. Fettig, Whirlpool Corporation chairman and chief executive officer.
Jeff M. Fettig, Whirlpool Corporation chairman and chief executive officer
Jeff M. Fettig, Whirlpool Corporation chairman and chief executive officer

Whirlpool Corporation announced third-quarter GAAP net earnings of $235 million, or $2.95 per diluted share, compared to $230 million, or $2.88 per diluted share, reported for the same prior-year period. Net sales in the quarter were equal to $5.3 billion compared to $4.8 billion during the third quarter of 2014, an increase of over 9 percent. Excluding the impact of currency, sales increased nearly 25 percent. “We are pleased with the strong financial results we delivered in the third quarter”, said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation. “Our operating plans and focused execution delivered another quarter of record revenues, operating profit and earnings in spite of a challenging operating environment in several key emerging markets”.

Regional net sales in the third quarter
-Whirlpool North America reported third-quarter net sales of $2.8 billion, unchanged from the same prior-year period. Excluding the impact of currency, sales increased nearly 3 percent.

-Whirlpool Europe, Middle East and Africa reported third-quarter net sales of $1.5 billion, compared to $0.8 billion in the same prior-year period, an increase of 85 percent. Excluding the impact of currency, sales increased over 127 percent.

-Whirlpool Latin America reported third-quarter net sales of $0.8 billion, compared to $1.1 billion in the same prior-year period. Excluding the impact of currency, sales decreased by 7 percent.

-Whirlpool Asia reported third-quarter net sales of $346 million, compared to $157 million in the same prior-year period, an increase of 120 percent. Excluding the impact of currency, sales increased over 127 percent.