Whirlpool

Whirlpool said Q2 results met expectations with about 1.5% like-for-like revenue growth, an ongoing EBIT margin of roughly 1.8% in the quarter (company target ~4% for the year) and a $300 million free cash flow target for 2026. The company lowered its EPS outlook to reflect higher interest expense from recent refinancing while reaffirming full-year operational targets. North American margins improved materially on pricing, new products and cost cuts, and Whirlpool expects another step-up in Q3 as July list-price and builder pricing take effect. Management completed financing actions that secured over $3 billion of liquidity, extended debt maturities through 2028 and aims to reduce 2026 net debt below $5 billion while delivering $150 million of cost savings. » More on finance.yahoo.com

Whirlpool hosted US Labor Secretary Keith Sonderling at its Clyde plant and presented the four-year, state-certified apprenticeship program for production workers there. The plant, which the company says is the world’s largest washing machine factory, is being modernized as part of a $300 million investment in its laundry care divisions in Clyde and Marion. Whirlpool is also building a new parts plant in Perrysburg with space for up to 150 employees; the company employs about 20,000 people in the US, 14,000 of them in production. The next apprenticeship cohort begins in the fall. » More on de.investing.com

Whirlpool reported adjusted earnings of -$0.21 per share and revenue of $3.52 billion in the second quarter, missing consensus estimates. The EBIT margin improved sequentially by 50 basis points to 1.8%, and management confirmed the full-year guidance of roughly 1.5% organic revenue growth and an ongoing EBIT margin of about 4%. To bolster liquidity, the company completed a $1.1 billion equity raise, secured credit lines and placed $2 billion of secured notes. Despite the quarterly loss, the stock rose in premarket trading as investors focused on margin improvements, product mix and balance-sheet measures. » More on de.investing.com