Whirlpool Corporation
Life at home has always been at the heart of our business.
The Whirlpool Corporation is an American multinational manufacturer and marketer of home appliances.
They innovate for homes and people with real needs –reaching many countries around the world through our unrivalled brands.
It has more than 70 manufacturing and technology research centers globally.
Employees: 69,000
Revenue: $20.616B for FY2022
HQ Location: Michigan, United States
What they do:
Being the best global kitchen and laundry appliance manufacturer
They don’t just build products but they also create rich consumer experiences through marketing expertise.
Their vision and priorities:
Vision: Be the best kitchen and laundry company, in constant pursuit of improving life at home.
Mission: Earn the trust and create demand for their brands in a digital world.
They are committed to being the best global kitchen and laundry company, in constant pursuit of improving life at home.
They are driving purposeful innovation to meet the evolving needs of consumers through their iconic brand portfolio, which includes Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit, Yummly and InSinkErator.
Financial and Business Goals
Invest in consumer-relevant innovation and manufacturing on a global scale.
Enter and expand new ecosystems and generate new revenue streams beyond our traditional market shares. The integration of both the Swash and Yummly brands in their appliances is expected to provide high consumer value, particularly as more people nest at home.
Win the digital consumer journey by serving the customer better at home.
Continue to grow on their competitive advantages in all area.
• Expect full-year 2023 revenues of approximately $19.4 billion.
Cash provided by operating activities of approximately $1.4 billion
Things to know right now
Joao Carlos Costa Brega, Executive Vice President and President, Whirlpool Latin America is to step down from his role
Juan Carlos Puente, currently Senior Vice President, Whirlpool Corporation, and President, Whirlpool Latin America North Region, will succeed Brega, effective April 1, 2023.
Acquisition completed with InSinkErator
Whirlpool Corporation announced the completion of its acquisition of InSinkErator, the world’s largest manufacturer of food waste disposers and instant hot water dispensers for home and commercial use. Whirlpool Corporation expects to generate revenue upside by capitalizing on InSinkErator’s leading consumer brand preference, an installed base that is five times larger than the rest of the industry driving a recurring sales profile, and the expansion of the InSinkErator brand into new markets and product offerings.
Agreement announced with Arcelik A.S.
Announced agreement to contribute European major domestic appliance (MDA) business into a newly formed entity with Arçelik A.Ş. Arçelik A.Ş. is a wholly owned subsidiary of Ardutch B.V. who has entered into the contribution agreement with 75% ownership.
Business Organisational Segments:
North America
In the United States, they market and distribute major home appliances and other consumer products primarily under the Whirlpool, KitchenAid, Maytag, Amana, JennAir, Roper, Affresh, Swash, everydrop, and Gladiator brand names primarily to retailers, distributors, and builders, as well as directly to consumers.
They also market small domestic appliances under the KitchenAid brand name to retailers, distributors, and directly to consumers.
They also market Yummly, a recipe app in the United States, through the Yummly brand website and phone application stores.
In Canada, they market and distribute major home appliances primarily under the Whirlpool, KitchenAid, Maytag, JennAir, Amana, and Speed Queen brand names and small domestic appliances under the KitchenAid brand to retailers, distributors, builders, and directly to consumers.
They sell some products to other manufacturers, distributors, and retailers for resale in North America under those manufacturers' and retailers' respective brand names.
Europe, Middle East, and Africa (EMEA)
In Europe, they market and distribute their major home appliances to retailers, distributors, and directly to consumers under the Whirlpool, Indesit, Hotpoint*, Bauknecht, Ignis, Maytag, and Privileg brand names.
They also market major home appliances and small domestic appliances under the KitchenAid brand name primarily to retailers and distributors, as well as directly to consumers.
They market and distribute products under the Whirlpool, Bauknecht, Maytag, Indesit, Amana, and Ignis brand names to distributors and dealers in Africa and the Middle East.
In addition to their operations in Western, Central, and Eastern Europe, and Russia, they have a sales subsidiary in Morocco.
Latin America
In Latin America, they produce, market, and distribute their major home appliances, small domestic appliances, and other consumer products primarily under the Consul, Brastemp, Whirlpool, KitchenAid, Acros, Maytag, and Eslabon de Lujo brand names primarily to retailers, distributors and directly to consumers.
They also serve the countries of Brazil, Mexico, Bolivia, Paraguay, Uruguay, Venezuela, and certain Caribbean and Central America countries, via sales and distribution through accredited distributors.
Asia
They market and distribute their major home appliances and small domestic appliances in multiple countries, notably in India.
They market and distribute their products in Asia primarily under the Whirlpool, Maytag, KitchenAid, Ariston, Indesit, Bauknecht, and Elica brand names through a combination of direct sales to appliance retailers and chain stores and through full-service distributors to a large network of retail stores. Whirlpool China continues to sell Whirlpool-branded products through a licensing agreement in China.
Their Competitors
LG
Bosch USA
Samsung
GE Digital
Electrolux
Their financial calendar
Q1: January-March - Around 25th April 2023
Q2: April-June - Around 25th July 2023
Q3: July-September - Around 24th October 2023
Q4: October-December - Around 31st January 2023
Next Earnings Report:
25th April 2023
Positives from the last earnings report:
Strong cost actions on track, delivering sequential quarterly net cost improvement
Latin America
Significant sequential demand improvement in Brazil and Mexico coupled with strong cost-based pricing actions resulting in flat revenue year-over-year
Challenges from the last earnings report:
Net sales declined 15.3%, impacted by one-off supply disruption in North America and demand slowdown, partially offset by favorable price/mix.
North America
Significant one-off supply chain disruption driving revenue decline; maintained recent sequential quarterly share gains.
Asia
Consumer sentiment negatively impacted demand
Europe, the Middle East, and Africa
Continued demand weakness across key countries; organic net sales declined by approx 9.0%