Whirlpool Corporation has presented today the results of the first quarter 2016. The company closed the period with a GAAP net earnings of 150 million dollar, compared to 191 million reported for the same prior-year period. Net sales in the quarter were 4.6 billion dollar compared to 4.8 billion and, excluding the impact of currency, increased by 1 percent. Regarding the regions trends, Whirlpool North America reported first-quarter net sales of 2.4 billion dollar, compared to 2.3 billion in the same prior-year period: excluding the impact of currency, sales increased by 5 percent. In Europe, Middle East and Africa, the company’s sales decreased by 3 percent, recording 1.2 billion, compared to 1.3 billion dollar of the last year first quarter. Whirlpool Latin America, instead, closed the first three months of 2016 with sales equal to 0.7 billion, compared to 0.9 billion. In Asian markets, the company saw sales growth of 3% (excluding the impact of currency), reaching 371 million dollar. «Our record first-quarter results were in line with our expectations – said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation – and we completed our existing share repurchase program. We remain confident in our ability to deliver our 2016 guidance as we capitalize on robust demand in the U.S., new product introductions and strong productivity around the globe.»
