Whirlpool sales grow by 2% in last quarter of 2016

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Fourth-quarter closed with good sales results for Whirlpool Corporation which announces the reaching of net sales of 5.7 billion dollar, compared to 5.6 billion in the same prior-year period. Excluding the impact of currency, sales increased over 2 percent. For the full year, net sales were 20.7 billion dollar compared to 20.9 billion in 2015. Excluding the impact of currency, sales increased by 2 percent.
In the last quarter of 2016, GAAP operating profit totaled 335 million dollar, or 5.9 percent of sales, compared to 380 million dollar, or 6.9 percent of sales, in the same prior-year period. Ongoing business operating profit totaled 425 million dollar, or 7.5 percent of sales, compared to $468 million, or 8.4 percent of sales, in the same prior-year period. On a GAAP and ongoing basis, cost productivity, unit volume growth, benefits from cost and capacity reduction initiatives and acquisition cost synergies partially offset unfavorable impacts from product price/mix and foreign currency; on a GAAP basis, results were negatively impacted by acquisition-related transition costs, and prior-year results were negatively impacted by the recognition of expenses related to a legal settlement.

Jeff Fettig, chairman and ceo of Whirlpool Corporation
Jeff Fettig, chairman and ceo of Whirlpool Corporation

«We delivered our fifth consecutive year of record ongoing earnings per share – stated Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation – through the continued execution of our long-term strategic priorities. We also continued to create value through our capital allocation strategy, funding our innovation programs with strong levels of investment while returning a record 800 million dollar to shareholders through dividends and share repurchases.»