Whirlpool Q3 2024: $13.05B Year-to-Date Sales

TL;DR

Whirlpool hit $13.05B in sales YTD through Q3 2024. Keep an eye on Q4.

AI Summary

Whirlpool Corporation reported its Q3 2024 results, with net sales for the nine months ending September 30, 2024, totaling $13.05 billion. The company's fiscal year ends on December 31st, and this filing covers the period up to September 30, 2024. Specific financial performance details for the third quarter itself are not explicitly detailed in this excerpt, but the year-to-date figures provide a snapshot of the company's revenue.

Why It Matters

This filing provides investors with Whirlpool's year-to-date financial performance, offering insights into the company's revenue trajectory as of the end of the third quarter of 2024.

Risk Assessment

Risk Level: medium — The filing provides high-level financial data but lacks detailed operational or forward-looking statements, making a definitive risk assessment challenging.

Key Numbers

• $13.05B — Net Sales (YTD) (Represents revenue for the first nine months of 2024.)
• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which data is reported.)

Key Players & Entities

• WHIRLPOOL CORP /DE/ (company) — Filer
• 20240930 (date) — Period of Report
• $13.05 billion (dollar_amount) — Net sales for the nine months ending September 30, 2024
• 20241024 (date) — Filing Date

FAQ

Key Financial Figures

• $1.00 — ich registered Common stock, par value $1.00 per share WHR Chicago Stock Exchange an

Filing Documents

• whr-20240930.htm (10-Q) — 1862KB
• exb311-09302024.htm (EX-31.1) — 10KB
• exb312-09302024.htm (EX-31.2) — 10KB
• exb321-09302024.htm (EX-32.1) — 7KB
• whr-20240930_g1.jpg (GRAPHIC) — 75KB
• whr-20240930_g10.jpg (GRAPHIC) — 32KB
• whr-20240930_g11.jpg (GRAPHIC) — 25KB
• whr-20240930_g2.jpg (GRAPHIC) — 35KB
• whr-20240930_g3.jpg (GRAPHIC) — 30KB
• whr-20240930_g4.jpg (GRAPHIC) — 34KB
• whr-20240930_g5.jpg (GRAPHIC) — 30KB
• whr-20240930_g6.jpg (GRAPHIC) — 32KB
• whr-20240930_g7.jpg (GRAPHIC) — 28KB
• whr-20240930_g8.jpg (GRAPHIC) — 32KB
• whr-20240930_g9.jpg (GRAPHIC) — 29KB
• 0000106640-24-000151.txt ( ) — 12494KB
• whr-20240930.xsd (EX-101.SCH) — 62KB
• whr-20240930_cal.xml (EX-101.CAL) — 111KB
• whr-20240930_def.xml (EX-101.DEF) — 376KB
• whr-20240930_lab.xml (EX-101.LAB) — 704KB
• whr-20240930_pre.xml (EX-101.PRE) — 538KB
• whr-20240930_htm.xml (XML) — 2544KB

Financial Statements

Item 1. Financial Statements Consolidated Condensed Statements of Comprehensive Income (Loss) 5 Consolidated Condensed Balance Sheets 6 Consolidated Condensed Statements of Cash Flows 7 Notes to the Consolidated Condensed Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 33

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 47

Controls and Procedures

Item 4. Controls and Procedures 48 PART II

Legal Proceedings

Item 1. Legal Proceedings 49

Risk Factors

Item 1A. Risk Factors 49

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 49

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 49

Other Information

Item 5. Other Information 49

Exhibit s

Item 6. Exhibit s 50

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by us or on our behalf. Certain statements contained in this quarterly report, including those within the forward-looking perspective section within the Management's Discussion and Analysis section, and other written and oral statements made from time to time by us or on our behalf do not relate strictly to historical or current facts and may contain forward-looking statements that reflect our current views with respect to future events and financial performance. As such, they are considered "forward-looking statements" which provide current expectations or forecasts of future events. Such statements can be identified by the use of terminology such as "may," "could," "will," "should," "possible," "plan," "predict," "forecast," "potential," "anticipate," "estimate," "expect," "project," "intend," "believe," "may impact," "on track," "guarantee," "seek," and the negative of these words and words and terms of similar substance. Our forward-looking statements generally relate to our growth strategies, financial results, product development, and sales efforts. These forward-looking statements should be considered with the understanding that such statements involve a variety of risks and uncertainties, known and unknown, and may be affected by inaccurate assumptions. Consequently, no forward-looking statement can be guaranteed and actual results may vary materially. This document contains forward-looking statements about Whirlpool Corporation and its consolidated subsidiaries ("Whirlpool") that speak only as of this date. Whirlpool disclaims any obligation to update these statements. Forward-looking statements in this document may include, but are not limited to, statements regarding future financial results, long-term value creation goals, restructuring expectations, productivity, raw material prices and related costs, supply chain,

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS TABLE OF CONTENTS PAGE

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Consolidated Condensed Statements of Comprehensive Income (Loss) 5 Consolidated Condensed Balance Sheets 6 Consolidated Condensed Statements of Cash Flows 7 PAGE NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (UNAUDITED) 1. Basis of Presentation 8 2. Revenue Recognition 11 3. Inventories 12 4. Property, Plant and Equipment 12 5. Financing Arrangements 12 6. Commitments and Contingencies 15 7. Pension and Other Postretirement Benefit Plans 18 8. Hedges and Derivative Financial Instruments 19 9. Fair Value Measurements 22 10. Stockholders' Equity 23 11. Restructuring Charges 27 12. Income Taxes 28 13. Segment Information 29 14. Acquisitions and Divestitures 31 4 WHIRLPOOL CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) FOR THE PERIODS ENDED SEPTEMBER 30 (Millions of dollars, except per share data) Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net sales $ 3,993 $ 4,926 $ 12,471 $ 14,367 Expenses Cost of products sold 3,350 4,127 10,561 11,989 Gross margin 643 799 1,910 2,378 Selling, general and administrative 395 473 1,266 1,436 Intangible amortization 7 18 24 39 Restructuring costs 8 5 81 14 Loss (gain) on sale and disposal of businesses ( 32 ) 46 260 286 Operating profit 265 257 279 603 Other (income) expense Interest and sundry (income) expense ( 6 ) ( 10 ) ( 27 ) 77 Interest expense 92 95 275 259 Earnings (loss) before income taxes 179 172 31 267 Income tax expense (benefit) 45 86 ( 85 ) 268 Equity method investment income (loss), net of tax ( 20 ) ( 1 ) ( 31 ) ( 3 ) Net earnings (loss) 114 85 85 ( 4 ) Less: Net earnings (loss) available to noncontrolling interests 5 2 16 6 Net earnings (loss) available to Whirlpool $ 109 $ 83 $ 69 $ ( 10 ) Per share of common stock Basic net earnings (loss) available to Whirlpool $ 2.01 $ 1.53 $ 1.27 $ ( 0.18 ) Diluted net earnings (loss) ava

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View this 10-Q filing on SEC EDGAR