WHR Stock Recent News

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Home prices are near all-time highs, but home sales have dropped sharply in recent years. Many investors expect interest rates to come down later this year, which could reinvigorate the housing market.

BALTIMORE , Aug. 1, 2024 /PRNewswire/ -- Whirlpool brand is taking the field as the proud founding partner of the Premier Lacrosse League's Maryland Whipsnakes during its homecoming weekend at Homewood Field in Baltimore from August 3-4, 2024. The Whirlpool brand partnership with the Maryland Whipsnakes expands upon the brand's three-year partnership with the Premier Lacrosse League (PLL).

Management was expecting a more favorable interest rate environment in 2024. A weak housing market has shifted revenue streams toward less profitable replacement demand, causing margin pressure and making Whirlpool's promotional activity ineffective.

Whirlpool stock surged to $115 on buyout rumors, now around $100, presenting a buying opportunity. Q2 earnings show progress in cost reduction, debt payment, and potential for increased profits with strategic moves. Dividend yield of 7% is attractive, well-covered by expected earnings and potential for growth, but downside risks include recession and macroeconomic concerns.

Whirlpool's (WHR) Q2 results reflect sales growth in SDA Global, MDA Latin America and MDA Asia, along with sequential margin expansion globally. However, sales in MDA North America declined.

Whirlpool Corporation (NYSE:WHR ) Q2 2024 Earnings Conference Call July 25, 2024 8:00 AM ET Company Participants Marc Bitzer - Chairman, Chief Executive Officer James Peters - Chief Financial Officer, Chief Administrative Officer Scott Cartwright - Head of Investor Relations Conference Call Participants Sam Darkatsh - Raymond James Mike Dahl - RBC Capital Markets Susan Maklari - Goldman Sachs David MacGregor - Longbow Research Laura Champine - Loop Capital Michael Rehaut - JP Morgan Eric Bosshard - Cleveland Research Rafe Jadrosich - Bank of America Scott Cartwright Good morning and welcome to Whirlpool Corporation's second quarter 2024 earnings call. Today's call is being recorded.

Although the revenue and EPS for Whirlpool (WHR) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Whirlpool (WHR) came out with quarterly earnings of $2.39 per share, missing the Zacks Consensus Estimate of $2.40 per share. This compares to earnings of $4.21 per share a year ago.

-- Sequential margin expansion globally and in MDA North America, driven by MDA North America promotional pricing actions -- Solid performance in SDA Global, MDA Latin America, and MDA Asia, all delivering double-digit net sales growth in the quarter -- Continued progress toward cost take out goals; on track to deliver $300-$400 million in 2024 -- Q2 GAAP net earnings margin of 5.5%; GAAP earnings per diluted share of $3.96 -- Ongoing (non-GAAP) EBIT margin(1) of 5.3%; ongoing earnings per diluted share(2) of $2.39 -- Expect full-year GAAP earnings per diluted share of approximately $3.00, primarily impacted by the non-cash charge related to the Europe transaction -- Revised full-year ongoing earnings per diluted share(2)  to approximately $12.00, cash provided by operating activities to approximately $1.05 billion and free cash flow(3) to approximately $500 million BENTON HARBOR, Mich. , July 24, 2024 /PRNewswire/ -- Whirlpool Corporation (NYSE: WHR), today reported second-quarter 20