Whirlpool: net earnings grew in the third quarter and in the full year 2015

0
1675
Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation
Jeff M. Fettig, Whirlpool Corporation chairman and chief executive officer
Jeff M. Fettig, Whirlpool Corporation chairman and chief executive officer.

Whirlpool Corporation registered fourth-quarter 2015 net earnings of 180 million dollar compared to 81 million reported for the same prior-year period. Net sales in the quarter were 5.6 billion dollar compared to 6 billion during the same prior-year period. Excluding the impact of currency, sales increased by 4%. “Our strong operational execution delivered another year of record revenue and earnings per share along with strong free cash flow – said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation -.These record results demonstrate that our strategy and larger global operating platform continue to create substantial levels of shareholder value even in a year of unprecedented volatility in global markets”. Fourth-quarter operating profit totaled 380 million dollar compared to 281 million in the same prior-year period. Besides, the ongoing business operating profit totaled 468 million, or approximately 8.5 percent of sales, compared to 456 million, or 7.6 percent of sales, in the the third quarter 2014. According to the company,the acquisition synergies, the benefits of cost and capacity-reduction initiatives, the ongoing cost productivity and the improved price/mix offset unfavorable currency, weak emerging market demand and increased investments in marketing, technology and products.
For the full year, net sales for 2015 were 20.9 billion dollar compared to 19.9 billion in 2014. Excluding the impact of foreign currency, sales increased by 18%. The operating profit totaled 1.3 billion, compared to 1.2 billion in 2014. Full-year ongoing business operating profit totaled 1.6 billion, or 7.5 percent of sales, compared to 1.5 billion, or 7.4 percent of sales, in 2014. Net earnings per diluted share increased to 9.83 dollar compared to 8.17 dollar for 2014. “Ongoing business earnings per diluted share – said the company – increased to a full-year record 12.38 dollar compared to 11.39 dollar for 2014”.