ABOUT WHIRLPOOL
Whirlpool Corporation ("Whirlpool"), the world's leading kitchen and laundry
appliance company, was incorporated in 1955 under the laws of Delaware and was
founded in 1911. Whirlpool manufactures products in 13 countries and markets
products in nearly every country around the world. We have received worldwide
recognition for accomplishments in a variety of business and social efforts,
including leadership, diversity, innovative product design, business ethics,
social responsibility and community involvement. We conduct our business through
four operating segments, which we define based on geography. Whirlpool's
operating segments consist of North America, Europe, Middle East and Africa
("EMEA"), Latin America and Asia. Whirlpool had approximately $20 billion in
annual sales and 77,000 employees in 2019. The world's leading kitchen and
laundry appliance company claim is based on publicly reported annual product
sales, parts, and support revenues for 2019.
OVERVIEW
Whirlpool had second-quarter GAAP net earnings available to Whirlpool of $35
million (net earnings margin of 0.9%), or $0.55 per share, compared to GAAP net
earnings available to Whirlpool of $67 million (net earnings margin of 1.3%), or
$1.04 per share, in the same prior-year period.
Whirlpool delivered a resilient global performance with ongoing EBIT (non-GAAP)
margin of 5.2%, compared to 7.0% in the same prior-year period, despite the
significant impact of COVID-19 on global demand. The reduction in GAAP net
earnings margin and ongoing EBIT margin were driven by continued COVID-19
disruptions, unfavorable product price/mix, the divestiture of the Embraco
compressor business and unfavorable foreign currency. These results were
partially offset by the favorable impacts of cost reduction initiatives.
As Whirlpool continues to assess the ongoing impact of COVID-19 on business
results, we remain firmly committed to taking aggressive actions to address the
health and safety of our employees and negative effects from demand disruptions
and production impacts, including, but not limited to the following:
•      Executing business continuity actions focused on our employee health and
       safety, such as travel bans, remote work policies, line distancing in our
       factories and enhanced cleaning and hygiene in our facilities, among other
       measures.


•      Proactively taking actions to mitigate volume deleverage, including
       rapidly implementing cost reduction actions to reduce our cost footprint
       to provide additional operational flexibility during the crisis.


•      Implementing rapid liquidity preservation actions, reduction of supply
       flows into our manufacturing facilities, disciplined inventory management,
       and capital expenditure reductions.


•      Taking appropriate actions to provide incremental financial flexibility
       during the crisis and in these volatile financial markets.




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We believe that these aggressive cost reduction and liquidity preservation actions serve to position Whirlpool appropriately and provide additional operating and financial flexibility to successfully navigate this uncertain environment.

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