Whirlpool Sees FY25 EPS ~$8.75 Vs $11.95 Est.; Revenue ~$15.8B Vs $16.714 Est.

Benzinga · Jan 29 21:16

FULL-YEAR 2025 OUTLOOK

Guidance Summary	2024 Reported	2024 Like-for- Like (6)	2025 Guidance
Net sales ($B)	$16.6	~$15.4	~$15.8
Cash provided by operating activities ($M)	$835	N/A	~$1,000
Free cash flow ($M)(4)	$385	N/A	$500 - $600
GAAP net earnings margin (%)	(1.9) %	N/A	3.0 %
Ongoing EBIT margin (%)(2)	5.3 %	~5.8%	~6.8%
GAAP earnings per diluted share	$(5.87)	N/A	~$8.75
Ongoing earnings per diluted share(3)	$12.21	N/A	~$10.00
GAAP tax rate	(5.5) %	N/A	20 - 25%
Adjusted (non-GAAP) tax rate	(28.6) %	N/A	20 - 25%

Expect full-year net sales of approximately $15.8 billion; approximately 3% growth on a like-for-like(6) basis
Expect to deliver more than $200 million of structural cost take out actions
Expect full-year GAAP earnings per diluted share of approximately $8.75 and full-year ongoing earnings per diluted share(3) of approximately $10.00
Cash provided by operating activities of approximately $1 billion and free cash flow(4) of $500 to $600 million
Expect net cash proceeds of $550 to $600 million from the anticipated India transaction
Our capital allocation priorities demonstrate our strong commitment to strengthen our balance sheet; expect approximately $700 million of debt pay down in 2025

(1)	A reconciliation of organic net sales, a non-GAAP financial measure, to reported net sales and other important information, appears below.
(2)	A reconciliation of earnings before interest and taxes (EBIT) and ongoing EBIT, non-GAAP financial measures, to reported net earnings (loss) available to Whirlpool, and a reconciliation of EBIT margin and ongoing EBIT margin, non-GAAP financial measures, to net earnings (loss) margin and other important information, appears below.
(3)	A reconciliation of ongoing earnings per diluted share, a non-GAAP financial measure, to reported net earnings (loss) per diluted share available to Whirlpool and other important information, appears below.
(4)	A reconciliation of free cash flow, a non-GAAP financial measure, to cash provided by (used in) operating activities and other important information, appears below.
(5)	Segment EBIT represents our consolidated EBIT broken down by the Company's reportable segments and are metrics used by the chief operating decision maker in accordance with ASC 280. Consolidated EBIT also includes corporate "Other/Eliminations" of $(507) million and $67 million for the fourth quarters of 2024 and 2023, respectively.
(6)	Like-for-like refers to pro forma results for 2024, which exclude the first quarter results for the historical Europe major domestic appliances business (MDA Europe) and July through December results for the Whirlpool of India business, to provide a comparative baseline for 2025 guidance. This comparison uses a prior period baseline that is aligned to the ongoing business expectations for 2025, with the Europe transaction closed April 1, 2024 and the intended Whirlpool of India transaction expected to close by mid to late 2025. The like-for-like GAAP net earnings margin and corresponding reconciliation cannot be provided without unreasonable effort or expense. Please see below for a reconciliation of ongoing EBIT for the full year to GAAP net earnings.

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Whirlpool Sees FY25 EPS ~$8.75 Vs $11.95 Est.; Revenue ~$15.8B Vs $16.714 Est.

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