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Wednesday, January 24, 2018

-=Whirlpool (WHR) reported earnings on Wed 24 Jan 2018 (a/h)

Whirlpool beats by $0.08, misses on revs; guides FY18 EPS below consensus 
  • Reports Q4 (Dec) earnings of $4.10 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $4.02; revenues rose 0.8% year/year to $5.7 bln vs the $5.88 bln Capital IQ Consensus.
  • On a GAAP and ongoing basis, the favorable impacts of cost productivity, product price/mix and restructuring benefits were more than offset by unfavorable raw material inflation and unit volume declines.
  • Co issues downside guidance for FY18, sees EPS of $14.50-15.50, excluding non-recurring items, vs. $15.56 Capital IQ Consensus Estimate.
    • Additionally, the Company expects to generate cash from operating activities of approximately $1.7 billion to $1.8 billion and free cash flow of approximately $1.0 billion to $1.1 billion. Included in this guidance are restructuring cash outlays of up to $300 million, pension contributions of $35 million and, with respect to free cash flow, capital spending of approximately $675 million.
  • "We are confident that our cost reduction initiatives and global price/mix will be a catalyst for significant margin improvements in the coming year," said Jim Peters, chief financial officer of Whirlpool Corporation. "As a result, we expect to achieve our cash conversion goal and continue returning strong levels of cash to shareholders." 

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