Good financial results for Whirlpool

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Whirlpool Washing Machines[1]

Whirlpool Corporation announced today second-quarter GAAP net earnings of 177 million dollar, compared to 179 million dollar, reported for the same prior-year period. Net sales in the quarter were 5.2 billion compared to 4.7 billion during the same prior-year period, an increase of over 11 percent. Excluding the impact of foreign currency, sales increased over 25 percent, primarily driven by the acquisitions. «Whirlpool delivered strong financial results in the second quarter – said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation -. These record results reflect the strength of our expanded global platform and we have the actions in place to deliver record second-half performance.» Second-quarter GAAP operating profit totaled 273 million dollar compared to 291 million in the same prior-year period; while business operating profit reached 355 million, or 6.8 percent of sales, compared to 330 million, or 7.1 percent of sales, in the same prior-year period. According to the company’s declaration, ongoing business operating margins benefited from acquisition integration activities, cost and capacity-reduction initiatives and ongoing cost productivity, which were more than offset by unfavorable currency.