Company Reports Revenue of $19.5 billion
WHIRLPOOL CORP /DE/ [WHR] has reported a net loss of $488.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $19.5 billion
Based in BENTON HARBOR, Michigan, WHIRLPOOL CORP /DE/ operates in the MANUFACTURING sector.
Consolidated Statements of Income (Loss) - USD ($) shares in Millions, $ in Millions 12 Months Ended Dec. 31, 2023 Dec. 31, 2022 Dec. 31, 2021
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- The company reported net sales of $19.455 billion for the 12 months ended December 31, 2023, slightly lower than the previous year's figure of $19.724 billion.
- Cost of Products Sold: The cost of products sold for the current period amounted to $16.285 billion, compared to $16.651 billion in the prior year.
- Gross Margin: The gross margin for the current period stood at $3.170 billion, a slight increase from $3.073 billion in the previous year.
- Selling, General and Administrative Expenses: The company incurred $1.993 billion in selling, general, and administrative expenses, higher than the $1.820 billion reported in the same period last year.
- Operating Profit (Loss): The company achieved an operating profit of $1.015 billion for the 12 months ended December 31, 2023, a significant improvement from the operating loss of $1.056 billion in the previous year.
- Net Earnings (Loss): The net earnings for the current period amounted to $488 million, compared to a significant loss of $1.511 billion in the prior year.
- Net Earnings (Loss) Available to Whirlpool: The net earnings available to Whirlpool for the period were $481 million, a substantial recovery from a loss of $1.519 billion in the previous year.
- Basic Net Earnings (Loss) Available to Whirlpool (USD per share): The company reported basic earnings per share of $8.76 in the current period, contrasting with a loss per share of $27.18 in the prior year.
- Diluted Net Earnings Available to Whirlpool (USD per share): The diluted earnings per share for the period were $8.72, compared to a loss per share of $27.18 in the same period last year.
Weighted-average Shares Outstanding:
- The weighted-average shares outstanding for basic calculation stood at 55.0 million shares, slightly down from 55.9 million shares in the previous year. For diluted calculation, the weighted-average shares outstanding were 55.2 million shares, also lower than the 55.9 million shares in the prior year.
The company's financial performance improved significantly in the current reporting period compared to the same period in the previous year, with higher revenue, lower costs, and a return to profitability. Earnings per share also showed a positive turnaround, reflecting a more stable financial position for Whirlpool.
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