Whirlpool Corp: strong results for the first quarter

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Whirlpool Corporation obtained strong results for the first quarter 2021. As communicated by the company, net sales grew by ~24%, driven by sustained global industry demand and cost-based pricing actions. Besides, Whirlpool Corporation reached GAAP net earnings margin of 8.1% (up 450 basis points) and ongoing (non-GAAP) EBIT margin of 12.4% (up 620 basis points) with all regions delivering double digit growth across revenue and EBIT. “Our Q1 results successfully demonstrate our agility and resilience in dealing with component shortages and inflationary pressure – said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation -. Sustained strong consumer demand and our recent cost-based pricing actions give us confidence to significantly raise our full-year guidance”. Considering the full year, the outlook is: increased full-year 2021 net sales growth to 13 percent from ~6 percent growth (the impact of currency on net sales for future periods is not included).

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