Whirlpool: good performance in 2021 and positive 2022 outlook

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Whirlpool achieved good performance in 2021 with full-year net sales growth of 13%, driven by strong consumer demand and cost-based pricing actions. Full-year GAAP net earnings margin of 8.1% (up 260 basis points) and ongoing (non-GAAP) EBIT margin of 10.8% (up 180 basis points) fully offset $1 billion in raw material inflation. The Q4 results have been impacted by rising inflation, but they were in line with expectations: revenues unchanged versus 2020, but 8% up versus 2019. “In 2021, we reported double digit revenue growth of 13%, and we expect another year of strong growth in 2022 of 5-6% – said Jim Peters, chief financial officer of Whirlpool Corporation -. Our strong balance sheet and significant cash flow provide us the flexibility to continue to invest in profitable growth and return cash to shareholders”.