Whirlpool (WHR) investor relations material

Executive summary

• Q2 2025 net sales were $3.77B, down 5.4% year-over-year, with ongoing EBIT margin steady at 5.3% despite macroeconomic uncertainty and negative consumer sentiment.

• Net earnings available to shareholders were $65M, with diluted EPS of $1.17, both down significantly year-over-year due to lower volume and a non-cash loss from Beko Europe B.V.

• Sequential net sales growth was achieved across all segments, with SDA Global showing strong performance driven by new products and direct-to-consumer growth.

• Significant cost reductions and organizational simplification delivered, supporting margin expansion and resilience.

• Largest product portfolio refresh in over a decade underway, with over 100 new product launches planned for 2025.

Financial highlights

• Q2 2025 net sales: $3.77B, down 5.4% year-over-year (3.2% excluding currency); SDA Global net sales up 7.5–8%.

• Ongoing EBIT margin held steady at 5.3% year-over-year, with cost takeout offsetting currency headwinds.

• Free cash flow for Q2 was $(856)M, unfavorable by $140M year-over-year due to seasonal inventory build.

• Gross margin improved to 16.2% for Q2 2025 from 15.7% in Q2 2024, driven by cost reductions and product mix.

• Ongoing EPS was $1.34, negatively impacted by a non-cash loss on Beko Europe B.V.

Outlook and guidance

• 2025 net sales expected to be flat at ~$15.8B, with ongoing EBIT margin of ~5.7%.

• Ongoing EPS guidance for 2025 is $6.00–$8.00; GAAP EPS expected at $5.00–$7.00.

• Free cash flow guidance for 2025 is ~$400M; cash from operations expected at ~$850M.

• Industry demand expected flat to down 3% globally, with North America and Latin America facing the most pressure; Asia expected up 0–3%.

• Annual dividend payout rate recommended at $3.60 per share starting Q3 2025.