Whirlpool Corporation recorded fourth-quarter net sales were 5.7 billion dollar, flat compared to the same prior-year period. Excluding the impact of currency, sales increased 2.5 percent. Fourth-quarter earnings before interest and taxes (EBIT) were 307 million dollar , or 5.4 percent of sales, compared to 249 million, or 4.4 percent of sales, in the same prior-year period. For the full year, net sales were 21.0 billion dollar compared to 21.3 billion in 2017. Excluding the impact of currency, sales decreased 0.3 percent. «Sustained focus on our successful execution of price increases and disciplined working capital reduction, coupled with a favorable tax rate, allowed us to deliver very strong fourth-quarter earnings and cash which exceeded our most recent guidance – said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation. – These results impressively demonstrate that we effectively manage through macroeconomic volatility, and provide additional confidence in our ability to drive positive results in 2019.»
Analyzing the results region by region Whirlpool North America reported fourth-quarter net sales of 3.1 billion dollar, compared to 2.9 billion in the same prior-year period. Excluding the impact of currency, sales increased 5.4 percent. In Europe, Middle East and Africa the company closed the fourth-quarter with net sales of 1.2 billion dollar, compared to 1.4 billion in the same prior-year period. Excluding the impact of currency, sales decreased 6.3 percent. In Latin America, Whirlpool reported fourth-quarter net sales of 990 million dollar, compared to 1.1 billion in the same prior-year period. Excluding the impact of currency, sales increased 1.1 percent. Whirlpool Asia, finally, reported fourth-quarter net sales of 372 million dollar, compared to 358 million in the same prior-year period. Excluding the impact of currency, sales increased 11.2 percent.
«We remain committed to driving profitable growth through strong global price/mix and unwavering cost discipline – said Jim Peters, chief financial officer of Whirlpool Corporation – while also delivering sustainable working capital improvements. As a result, we expect to continue fully investing in our business to drive long-term margin expansion and strong cash generation.»
