Whirlpool Corporation announced the results of the first quarter 2017. During the period, the company reported revenue growth of 4% with margin expansion in North America and Latin America regions. The EMEA region has been experiencing peak complexity related to the Indesit integration, impacting the region’s supply chain network and product availability. The Company expects second-quarter performance to improve and for that improvement to continue in the second half of 2017.
First-quarter GAAP net earnings of the whole business was equal to 153 million dollar, compared to 150 million dollar reported for the same prior-year period.
First-quarter net sales were 4.8 billion dollar, compared to 4.6 billion dollar in the same prior-year period. Excluding the impact of currency, sales increased 3 percent.
«We made progress toward our goals of revenue growth and free cash flow generation, with strong growth and margin expansion in North America and Latin America,” said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation. “As we continue to execute our plans and work through the elevated complexity of our European integration, we remain confident in our ability to deliver both 1 billion dollar of free cash flow and record earnings per share in 2017.»