Whirlpool Corporation to Showcase Diverse Selection of Innovative, Resource-Efficient Kitchen and Laundry Appliances
Jun 22 15
Whirlpool Corp. will showcase a diverse selection of innovative, resource-efficient kitchen and laundry appliances from its strategically differentiated brand portfolio this week. Products from the company's Whirlpool, Maytag, KitchenAid and Jenn-Air brands will be displayed at the Whirlpool Corporation booth (1313) during the 2015 Pacific Coast Builders Conference in San Diego, June 24 to 25. During PCBC, attendees will experience KitchenAid brand's new sophisticated, professionally inspired design, created for builders who want to offer their clients uniquely identifiable appliances that inspire culinary creativity and meet the high standards of performance. Part of KitchenAid brand's new design includes an industry-first black stainless steel finish. Whirlpool Corporation will also feature its latest innovations in laundry, including connected technology that works with a new Whirlpool top load laundry pair to reach new levels of custom care, and the ventless Whirlpool HybridCare Duet clothes dryer with Heat Pump technology (WED99HEDC), designed to reduce installation costs for professionals and energy costs for homeowners. The HybridCare dryer was named a 2015 PCBC Parade of Products winner for innovation in design and practical application. The display is all part of an ongoing campaign that emphasizes the appliance manufacturer's longstanding commitment to the building industry. In addition to the connected Whirlpool top load laundry pair and the ventless Whirlpool HybridCare dryer, the Whirlpool Corporation display will be highlighted by the following products: the Maytag 5.8 cu. ft. Front Control Gas Range with the FIT system (MGS8880DS), designed to reduce labor time and installation costs and accommodate virtually any existing freestanding range cutout due to its full-depth design; the KitchenAid 25.8 cu. ft., 36-inch Multi-Door Freestanding Refrigerator with Platinum Interior Design (KRMF706ESS), an ideal offering for builders' most organized homebuyers, featuring unparalleled control for organizing and a sophisticated, platinum interior backdrop; the KitchenAid 44 dBA Dishwasher with Dynamic Wash Arms (KDTM704ESS), which allows builders to offer customers a quiet solution that harnesses the power of the Dynamic Wash Arms to provide complete water coverage and superior cleaning; the KitchenAid 30-inch 4-Burner Dual Fuel Downdraft Slide-In Range (KSDG950ESS), which opens up possibilities for builders and designers due to an integrated ventilation system right in the range and a duct-free kit available for purchase separately; and, the Jenn-Air 36-inch 6-Burner Gas Cooktop (JGC7636B), which is billed as the industry's most powerful 36-inch 6-burner gas cooktop and is perfect for builders' customers who enjoy cooking and entertaining on a larger scale.
Whirlpool and Kohler Partner on Research Project to Reduce Water Consumption in Homes
Jun 3 15
Whirlpool and Kohler have teamed up for a research project, ReNEWW House, near the Purdue University campus in Indiana, to develop innovative concept for reducing water use in homes. ReNEWW House is a vintage home which is being turned to retrofitted, net-zero energy, water and waste research home as part of a project which aims to save energy and conserve water. It will be equipped solar and geothermal technologies and have system installations which will enable production of waste heat from appliances and 'gray water' from showers and sinks. The home appliance developers expect to create energy and water advancements through collaborative efforts in order to bring down water consumptions in the existing buildings and enable them to become self-sustaining systems.
Whirlpool Corp. Reports Unaudited Consolidated Financial Results for the First Quarter Ended Mar. 31, 2015; Revises Earnings Guidance for Full Year of 2015
Apr 28 15
Whirlpool Corp. reported unaudited consolidated financial results for the first quarter ended Mar. 31, 2015. The company reported first-quarter GAAP net earnings available to the company of $191 million, or $2.38 per diluted share, compared to $160 million, or $2.02 per diluted share, reported for the same prior-year period. Ongoing business earnings per diluted share totaled $2.14, compared to $2.20 in the same prior-year period. The benefit of cost and capacity-reduction initiatives, ongoing cost productivity and benefits from the acquisition integration activities were offset by unfavorable currency and a weakened demand environment in Brazil. Net sales in the quarter were $4.8 billion compared to $4.4 billion during the same prior-year period, an increase of over 11%. Excluding the impact of both foreign currency and Brazilian (BEFIEX) tax credits, sales increased over 23%, primarily driven by the acquisitions. First-quarter GAAP operating profit totaled $303 million compared to $281 million in the same prior-year period. First-quarter ongoing business operating profit totaled $318 million, or 6.6% of sales, compared to $302 million, or 6.9% of sales, in the same prior-year period. Ongoing business operating margins benefited from acquisition integration activities and cost and capacity-reduction initiatives, which were offset by unfavorable currency. For the three months ended March 31, 2015, the company reported cash used in operating activities of $569 million compared to cash used in operating activities of $339 million in the same prior-year period. Whirlpool Corporation reported free cash outflow of $651 million in the first quarter of 2015 compared to $456 million in the same prior-year period. As expected, the decrease in free cash flow was primarily driven by seasonal working capital requirements associated with the acquisitions. Net sales were $4,846,000 against $4,363,000 for the same period of last year. Earnings before income taxes was $207,000 against $214,000 for the same period of last year. Capital expenditures were $126,000 against $123,000 for the same period of last year.
The company has adjusted its full-year 2015 guidance to reflect the impact of unfavorable currency and a weakened demand environment in Brazil. The company now expects full-year GAAP net earnings per diluted share available to Whirlpool of $9.00 to $10.00 and full-year ongoing business earnings per diluted share of $12.00 to $13.00. On Ongoing Business basis, previously, the company expects full-year GAAP net earnings per diluted share available to the company of $10.75 to $11.75 and full-year ongoing business earnings per diluted share of $14.00 to $15.00. For the full-year 2015, the company now expects to generate free cash flow of approximately $700 million. Included in this guidance are restructuring cash outlays of up to $250 million, capital spending of approximately $750 million to $800 million and U.S. pension contributions of approximately $72 million. The company expects full year effective tax rate to between 22% to 25% for both GAAP and ongoing earnings.