Technology
Whirlpool Corporation Announces Third-Quarter Results
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3 hours agoon
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Executed price increases and structural cost actions, delivering sequential operational progress in Q3 against a tough macroeconomic backdropAnnounced Q4 price increases in MDA North America and Latin AmericaQ3 GAAP net earnings (loss) margin of (6.8)%; GAAP earnings (loss) per diluted share of $(3.80)Q3 ongoing (non-GAAP) EBIT margin(2) of 2.6%; ongoing earnings (loss) per diluted share(3) of $(0.21)2026 updated EPS outlook includes full-year GAAP earnings (loss) per diluted share of $(4.95), and ongoing earnings (loss) per diluted share(3)of $(1.30)2026 updated cash flow outlook includes cash provided by operating activities of approximately $700 million and free cash flow(4) of approximately $300 millionMaintained strict working capital management, prioritizing balance sheet strength and positioning us well to deliver our full year free cash flow targetNet debt expectations improved from under $5 billion to under $4.5 billion by year end
BENTON HARBOR, Mich., Oct. 26, 2026 /PRNewswire/ — Whirlpool Corporation (NYSE: WHR) today reported third-quarter financial results.
“Our structural cost take out and pricing realization drove consecutive margin progress through Q3. While the pace of recovery is slower than expected, these actions are setting a clear path for further improvements in 2027.”
MARC BITZER, CHAIRMAN AND CHIEF EXECUTIVE OFFICER
Earnings Results
Third-Quarter Results
2026
2025*
Change
Net sales ($M)
$3,677
$4,033
(8.8) %
Organic net sales ($M)(1)
$3,643
$3,852
(5.4) %
GAAP net earnings (loss) available to Whirlpool common shareholders ($M)
$(249)
$73
nm
Ongoing EBIT(2) ($M)
$97
$180
(46.1) %
GAAP net earnings (loss) margin
(6.8) %
1.8 %
(8.6pts)
Ongoing EBIT margin(2)
2.6 %
4.5 %
(1.8pts)
GAAP earnings (loss) per diluted share
$(3.80)
$1.29
nm
Ongoing earnings (loss) per diluted share(3)
$(0.21)
$2.09
nm
*Includes results from our previously-owned India business
Free Cash Flow
2026
2025
Change
Cash provided by (used in) operating activities ($M)
$(826)
$(669)
$(157)
Free cash flow(4) ($M)
$(1,081)
$(907)
$(174)
“Through disciplined working capital management, we are protecting our year end free cash flow and our balance sheet resilience to navigate challenging market conditions. As a result, we now expect net debt below $4.5B at the end of 2026 and have preserved a clear debt maturity ladder until 2028.”
ROXANNE WARNER, CHIEF FINANCIAL OFFICER
SEGMENT REVIEW
SEGMENT INFORMATION ($M)
Q3 2026
Q3 2025
YoY Change
MDA North America
Net Sales
$2,495
$2,722
(8.3) %
EBIT
$74
$134
(44.7) %
% of sales
3.0 %
4.9 %
(2.0pts)
MDA Latin America
Net Sales
$858
$802
6.9 %
EBIT
$18
$45
(61.3) %
% of sales
2.0 %
5.7 %
(3.6pts)
SDA Global
Net Sales
$286
$288
(0.7) %
EBIT
$53
$47
11.7 %
% of sales
18.6 %
16.5 %
2.1pts
MDA: Major Domestic Appliances; SDA: Small Domestic Appliances
MDA NORTH AMERICA
Excluding currency, net sales decreased 8.2% year-over-year driven by soft industry demandDelivered sequential EBIT margin(5) expansion driven by price increases and structural cost take-out, partially offset by cost inflation on raw material, fuel and logisticsAnnounced price increase of 7% effective in Q4, supported by product innovation
MDA LATIN AMERICA
Excluding currency, net sales increased 2.5% year-over-year due to volumeEBIT margin(5) pressured by mix shifts following Grupo Casas Bahia’s bankruptcy reorganizationAnnounced price increases of up to 10% across the region
SDA GLOBAL
Excluding currency, net sales decreased 0.9% year-over-year;Q3 strong sell-out and order timing shifts pushed October orders in the U.S. up ~40% year-over-yearStrong EBIT margin(5) and share gains globally, supported by product innovation and direct-to-consumer sales
FULL-YEAR 2026 OUTLOOK
Guidance Summary
2025
Reported
2026
Guidance
Net sales ($B)
$15.5
~$14.5
Cash provided by (used in) operating activities ($M)
$470
~$700
Free cash flow ($M)(4)
$81
~$300
GAAP net earnings margin (loss) (%)
2.2 %
~(2.2)%
Ongoing EBIT margin (%)(2)
4.7 %
2.0 – 2.2%
GAAP earnings (loss) per diluted share
$5.66
~$(4.95)
Ongoing earnings (loss) per diluted share(3)
$6.23
~$(1.30)
GAAP tax rate
27.5 %
~8.0%
Adjusted (non-GAAP) tax rate
3.5 %
~25.0%
On a full year basis in 2026, we expect:
Net sales of approximately $14.5 billion; approximately (1.5)% decline vs. 2025 like-for-like(6) net sales of approximately $14.7 billion GAAP net earnings (loss) margin of (2.2)% and ongoing (non-GAAP) EBIT margin(2) of 2.0 – 2.2%, supported by pricing actionsGAAP earnings (loss) per diluted share of $(4.95) and full-year ongoing earnings (loss) per diluted share(3) of $(1.30)2026 GAAP tax rate of approximately 8% and adjusted (non-GAAP) tax rate of 25%Cash provided by operating activities of approximately $700 million and free cash flow(4) of approximately $300 millionNet debt below $4.5 billion at year end
(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” of $(273) million and $(28) million for the third quarters of 2026 and 2025, respectively.
(6)
Like-for-like refers to pro forma results for 2025, which exclude the results of Whirlpool of India from January to November, providing a comparative baseline for 2026 guidance. 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.
ABOUT WHIRLPOOL CORPORATION
Whirlpool Corporation (NYSE: WHR) is a leading home appliance company, in constant pursuit of improving life at home. As the only major U.S.-based manufacturer of kitchen and laundry appliances, the company is driving meaningful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, JennAir, Maytag, Amana, Brastemp, Consul, and InSinkErator. In 2025, the company reported approximately $16 billion in annual net sales – close to 90% of which were in the Americas – 41,000 employees and 35 manufacturing and technology research centers. Additional information about the company can be found at WhirlpoolCorp.com.
WEBSITE DISCLOSURE
We routinely post important information for investors on our website, WhirlpoolCorp.com, in the “Investors” section. We also intend to update the “Hot Topics Q&A” portion of this webpage as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the “Investors” section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our webpage is not incorporated by reference into, and is not a part of, this document.
WHIRLPOOL ADDITIONAL INFORMATION
This document contains forward-looking statements about Whirlpool Corporation and its consolidated subsidiaries (“Whirlpool”) within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Whirlpool intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with those safe harbor provisions. Any statements made in this press release that are not statements of historical fact, including statements regarding future financial results, long-term value creation goals, restructuring expectations, productivity, raw material prices and related costs, supply chain, portfolio transformation expectations, asset impairment, new product introduction benefits, trade and tariffs, litigation, ESG efforts, debt repayment and dividend expectations, share position, trade customer inventory expectations, cost take-out, manufacturing investment benefits, and the impact of housing recovery-related benefits on our operations are forward-looking statements and should be evaluated as such. Such statements can be identified by the use of terminology such as “may,” “could,” “will,” “should,” “possible,” “plan,” “predict,” “forecast,” “potential,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “believe,” “may impact,” “on track,” “margin lift,” and similar words or expressions. Many risks, contingencies and uncertainties could cause actual results to differ materially from Whirlpool’s forward-looking statements. Whirlpool disclaims any obligation to update these statements. Many risks, contingencies and uncertainties could cause actual results to differ materially from Whirlpool’s forward-looking statements. Among these factors are: (1) intense competition in the home appliance industry, and the impact of the changing retail environment, including direct-to-consumer sales; (2) Whirlpool’s ability to maintain or increase sales to significant trade customers and builders; (3) Whirlpool’s ability to maintain its reputation and brand image; (4) Whirlpool’s ability to achieve its business objectives and successfully manage its strategic portfolio transformation and outsourced business unit service model; (5) Whirlpool’s ability to understand consumer preferences and successfully develop new products; (6) Whirlpool’s ability to obtain and protect intellectual property rights; (7) acquisition, divestiture, and investment-related risks, including risks associated with our past transactions; (8) the ability of suppliers of critical parts, components and manufacturing equipment to deliver sufficient quantities to Whirlpool in a timely and cost-effective manner; (9) risks related to Whirlpool’s international operations; (10) Whirlpool’s ability to respond to unanticipated social, political and/or economic events, including epidemics/pandemics; (11) information technology system and cloud failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity attacks; (12) product liability and product recall costs; (13) Whirlpool’s ability to attract, develop and retain executives and other qualified employees; (14) the impact of labor relations; (15) fluctuations in the cost of key materials (including steel, resins, and base metals) and components and the ability of Whirlpool to offset cost increases; (16) Whirlpool’s ability to manage foreign currency fluctuations; (17) impacts from goodwill, intangible asset and/or inventory impairment charges; (18) health care cost trends, regulatory changes and variations between results and estimates that could increase future funding obligations for pension and postretirement benefit plans; (19) impacts from credit rating agency downgrades; (20) litigation, tax, and legal compliance risk and costs; (21) the effects and costs of governmental investigations or related actions by third parties; (22) changes in the legal and regulatory environment including environmental, health and safety regulations, data privacy, taxes and AI; (23) the impacts of changes in foreign trade policies, including tariffs; (24) Whirlpool’s ability to respond to the impact of climate change and climate change or other environmental regulation; (25) the uncertain global economy and changes in economic conditions; (26) financing and liquidity uncertainty including payment of dividends on our Mandatory Convertible Preferred Stock; (27) the dilutive effect of conversion and potential dividend payments in common stock for our Mandatory Convertible Preferred Stock; (28) the liquidation preference of our Mandatory Convertible Preferred Stock above our common stock; (29) reduced operational flexibility under our Senior Secured Second Lien Notes due 2031 and 2034; and (30) reduced operational flexibility and liquidity availability under our Asset-Based loan facility.
WHIRLPOOL CORPORATION
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (LOSS) (UNAUDITED)
FOR THE PERIODS ENDED SEPTEMBER 30
(Millions of dollars, except per share data)
Three Months Ended
Nine Months Ended
2026
2025
2026
2025
Net sales
$ 3,677
$ 4,033
$ 10,467
$ 11,426
Expenses
Cost of products sold
3,204
3,439
9,137
9,615
Gross margin
473
594
1,330
1,811
Selling, general and administrative
428
405
1,158
1,209
Intangible amortization
6
7
18
20
Restructuring costs
35
6
108
17
Loss (gain) on sale and disposal of businesses
—
(30)
(139)
(30)
Operating profit
4
206
185
595
Other (income) expense
Interest and sundry (income) expense
15
(5)
11
(41)
Interest expense
102
92
241
256
Earnings (loss) before income taxes
(112)
120
(67)
381
Income tax expense (benefit)
8
33
25
105
Equity method investment loss, net of tax
(118)
(11)
(140)
(46)
Net earnings (loss)
(238)
76
(232)
229
Less: Net earnings (loss) available to noncontrolling interests
(1)
3
(1)
20
Net earnings (loss) available to Whirlpool shareholders
$ (237)
$ 73
$ (231)
$ 210
Less: Mandatory convertible preferred stock dividends accumulated during the period
12
—
29
—
Net earnings (loss) available to Whirlpool common shareholders
$ (249)
$ 73
$ (260)
$ 210
Per share of common stock
Basic net earnings (loss) available to Whirlpool
$ (3.80)
$ 1.30
$ (4.10)
$ 3.76
Diluted net earnings (loss) available to Whirlpool
$ (3.80)
$ 1.29
$ (4.10)
$ 3.74
Dividends declared
$ —
$ 0.90
$ 0.90
$ 4.40
Weighted-average shares outstanding (in millions)
Basic
65.5
56.1
63.4
55.9
Diluted
65.5
56.5
63.4
56.1
WHIRLPOOL CORPORATION
CONSOLIDATED CONDENSED BALANCE SHEETS
(Millions of dollars, except share data)
(Unaudited)
September 30, 2026
December 31, 2025
Assets
Current assets
Cash and cash equivalents
$ 1,103
$ 669
Accounts receivable, net of allowance of $57 and $56, respectively
1,320
1,276
Inventories
2,275
2,307
Prepaid and other current assets
613
535
Other receivables
389
119
Assets held for sale
17
17
Total current assets
5,717
4,924
Property, net of accumulated depreciation of $5,771 and $5,547, respectively
2,219
2,194
Right of use assets
928
796
Goodwill
3,103
3,103
Investment in affiliated companies
705
827
Other intangibles, net of accumulated amortization of $481 and $464,
respectively
2,546
2,563
Deferred income taxes
1,309
1,327
Other noncurrent assets
436
266
Total assets
$ 16,963
$ 16,001
Liabilities and stockholders’ equity
Current liabilities
Accounts payable
$ 3,446
$ 3,704
Accrued expenses
437
448
Accrued advertising and promotions
440
755
Employee compensation
175
208
Notes payable
14
351
Current maturities of long-term debt
—
586
Other current liabilities
481
460
Total current liabilities
4,993
6,513
Noncurrent liabilities
Long-term debt
6,838
5,583
Pension benefits
83
64
Postretirement benefits
91
92
Lease liabilities
863
669
Other noncurrent liabilities
380
365
Total noncurrent liabilities
8,255
6,773
Stockholders’ equity
Mandatory convertible preferred stock, 8.50% Series A, $1 par value,
10 million shares authorized; 575 thousand issued and outstanding
as of September 30, 2026; none issued and outstanding as of
December 31, 2025; aggregate liquidation preference $575
1
—
Common stock, $1 par value, 250 million shares authorized, 73
million and 65 million shares issued, respectively, and 66 million and
56 million shares outstanding, respectively
73
65
Additional paid-in capital
4,572
3,485
Retained earnings
1,012
1,330
Accumulated other comprehensive loss
(1,458)
(1,624)
Treasury stock, 7 million and 9 million shares, respectively
(473)
(530)
Total Whirlpool stockholders’ equity
3,726
2,726
Noncontrolling interests
(12)
(11)
Total stockholders’ equity
3,715
2,715
Total liabilities and stockholders’ equity
$ 16,963
$ 16,001
WHIRLPOOL CORPORATION
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE PERIODS ENDED SEPTEMBER 30
(Millions of dollars)
Nine Months Ended
2026
2025
Operating activities
Net earnings (loss)
$ (232)
$ 229
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:
Depreciation and amortization
290
246
Impairment of goodwill, intangibles and other assets
46
2
Loss (gain) from sale of assets and businesses
(187)
(30)
Equity method investment loss, net of tax
140
46
Share based compensation and other
76
113
Changes in assets and liabilities:
Accounts receivable
(104)
(258)
Inventories
50
(523)
Accounts payable
(306)
(59)
Accrued advertising and promotions
(318)
(208)
Accrued expenses and current liabilities
(32)
(52)
Taxes deferred and payable, net
(62)
(18)
Accrued pension and postretirement benefits
18
5
Employee compensation
(38)
(39)
Other
(168)
(123)
Cash provided by (used in) operating activities
(826)
(669)
Investing activities
Capital expenditures
(255)
(239)
Purchase of previously leased assets
(157)
—
Proceeds from sale of assets and businesses
254
—
Other
9
—
Cash provided by (used in) investing activities
(148)
(239)
Financing activities
Net proceeds from borrowings of long-term debt
1,972
1,200
Net repayments of long-term debt
(1,264)
(1,550)
Net proceeds (repayments) from short-term borrowings
(336)
1,114
Dividends paid
(81)
(248)
Common stock issuance, net of issuance costs
524
—
Mandatory convertible preferred stock issuance, net of issuance costs
557
—
Other
8
(12)
Cash provided by (used in) financing activities
1,380
503
Effect of exchange rate changes on cash and cash equivalents
28
64
Increase (decrease) in cash and cash equivalents
434
(341)
Cash and cash equivalents at beginning of year
669
1,275
Cash and cash equivalents at end of period
$ 1,103
$ 934
SUPPLEMENTAL INFORMATION – CONSOLIDATED FINANCIAL STATEMENTS RECONCILIATION OF GAAP TO NON-GAAP
FINANCIAL MEASURES
(Millions of dollars except per share data) (Unaudited)
We supplement the reporting of our financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial measures, some of which we refer to as “ongoing” measures. These measures may include earnings before interest and taxes (EBIT), EBIT margin, ongoing EBIT, ongoing EBIT margin, ongoing earnings per diluted share, ongoing EBITDA, adjusted effective tax rate, organic net sales, net debt leverage (Net Debt/Ongoing EBITDA), return on invested capital (ROIC) and free cash flow.
Ongoing measures exclude items that may not be indicative of, or are unrelated to, results from our ongoing operations and provide a better baseline for analyzing trends in our underlying businesses.
Sales excluding foreign currency: Current period net sales translated in functional currency, to U.S. dollars using the applicable prior period’s exchange rate compared to the applicable prior period net sales. Management believes that sales excluding foreign currency provides stockholders with a clearer basis to assess our results over time, excluding the impact of exchange rate fluctuations.
Organic net sales: Sales excluding the impact of certain acquisitions or divestitures, and foreign currency. Management believes that organic net sales provides stockholders with a clearer basis to assess our results over time, excluding the impact of exchange rate fluctuations and certain acquisitions and/or divestitures.
Ongoing EBIT margin: Ongoing earnings before interest and taxes divided by net sales. Ongoing measures exclude items that may not be indicative of, or are unrelated to, results from our ongoing operations and provide a better baseline for analyzing trends in our underlying businesses.
Ongoing earnings per diluted share: Diluted net earnings per share from continuing operations, adjusted to exclude items that may not be indicative of, or are unrelated to, results from our ongoing operations. Ongoing measures provide a better baseline for analyzing trends in our underlying businesses.
Ongoing EBITDA: Ongoing earnings before interest, taxes, depreciation and amortization. Ongoing measures exclude items that may not be indicative of, or are unrelated to, results from our ongoing operations and provide a better baseline for analyzing trends in our underlying businesses.
Net debt leverage: Net debt to ongoing earnings before interest, taxes, depreciation, and amortization (EBITDA) ratio is net debt outstanding, including long-term debt, current maturities of long-term debt, and notes payable, less cash and cash equivalents, divided by ongoing EBITDA. Management believes that net debt leverage provides stockholders with a view of our ability to generate earnings sufficient to service our debt.
Return on invested capital: Ongoing EBIT after taxes divided by total invested capital, defined as total assets less non-interest bearing current liabilities (NIBCLS). NIBCLS is defined as current liabilities less current maturities of long-term debt and notes payable. This ROIC definition may differ from other companies’ methods and therefore may not be comparable to those used by other companies. Management believes that ROIC provides stockholders with a view of capital efficiency, a key driver of stockholder value creation.
Adjusted effective tax rate: Effective tax rate, excluding pre-tax income and tax effect of certain unique items. Management believes that adjusted tax rate provides stockholders with a meaningful, consistent comparison of the Company’s effective tax rate, excluding the pre-tax income and tax effect of certain unique items.
Free cash flow: Cash provided by (used in) operating activities less capital expenditures. Management believes that free cash flow provides stockholders with a relevant measure of liquidity and a useful basis for assessing the Company’s ability to fund its activities and obligations.
Whirlpool does not provide a non-GAAP reconciliation for its forward-looking long-term value creation goals, such as EBIT, free cash flow conversion, ROIC and net debt leverage, as these long-term management goals are not annual guidance, and the reconciliation of these long-term measures would rely on market factors and certain other conditions and assumptions that are outside of the Company’s control.
We believe that these non-GAAP measures provide meaningful information to assist investors and stockholders in understanding our financial results and assessing our prospects for future performance, and reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP financial measures, provide a more complete understanding of our business. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. These ongoing non-GAAP financial measures should not be considered in isolation or as a substitute for reported net earnings available to Whirlpool per diluted share, net earnings, net earnings available to Whirlpool, net earnings margin, return on assets, net sales, effective GAAP tax rate and cash provided by (used in) operating activities, the most directly comparable GAAP financial measures.
We also disclose segment EBIT as an important financial metric used by the Company’s Chief Operating Decision Maker to evaluate performance and allocate resources in accordance with ASC 280 – Segment Reporting. Consolidated EBIT also includes corporate “Other” of $(273) million and $(28) million for the third quarters of 2026 and 2025, respectively. Management believes segment EBIT provides stockholders with a clearer basis to assess our results over time for each segment.
GAAP net earnings available to Whirlpool per basic or diluted share (as applicable) and ongoing earnings per diluted share are presented net of tax, while individual adjustments in each reconciliation are presented on a pre-tax basis; the income tax impact line item aggregates the tax impact for these adjustments. The tax impact of individual line item adjustments may not foot precisely to the aggregate income tax impact amount, as each line item adjustment may include non-taxable components. Historical quarterly earnings per share amounts are presented based on a normalized tax rate adjustment to reconcile quarterly tax rates to full-year tax rate expectations. We strongly encourage investors and stockholders to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.
THIRD-QUARTER 2026 ONGOING EARNINGS BEFORE INTEREST AND TAXES AND ONGOING EARNINGS PER DILUTED SHARE
The reconciliation provided below reconciles the non-GAAP financial measures ongoing earnings before interest and taxes and ongoing earnings per diluted share, with the most directly comparable GAAP financial measures, net earnings (loss) available to Whirlpool common shareholders and net earnings (loss) per diluted share available to Whirlpool common shareholders, for the three months ended September 30, 2026. Net earnings (loss) margin is calculated by dividing net earnings (loss) available to Whirlpool common shareholders by net sales. Ongoing EBIT margin is calculated by dividing ongoing EBIT by net sales. EBIT margin is calculated by dividing EBIT by net sales. The earnings per diluted share GAAP measure and ongoing measure are presented net of tax, while each adjustment is presented on a pre-tax basis. Our third-quarter GAAP tax rate was (6.8)%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our third-quarter adjusted tax rate (non-GAAP) of 25.0%.
Three Months Ended
Earnings Before Interest & Taxes Reconciliation:
September 30, 2026
Net earnings (loss) available to Whirlpool common shareholders
$ (249)
Mandatory convertible preferred stock dividends accumulated during the period
12
Net earnings (loss) available to noncontrolling interests
(1)
Income tax expense (benefit)
8
Interest expense
102
Earnings before interest & taxes
$ (128)
Net sales
$ 3,677
Net earnings (loss) margin
(6.8) %
Results classification
Earnings before
interest & taxes
Earnings per
diluted share
Reported measure
$ (128)
$ (3.80)
Restructuring expense (a)
Restructuring costs
35
0.53
Impairment of equity
method investment (b)
Equity method investment
income (loss), net of tax
124
1.89
Impact of M&A
transactions (d)
Selling, general and
administrative
13
0.20
Trade customer bankruptcy
reorganization impact (e)
Selling, general and
administrative
54
0.82
Income tax impact
(0.39)
Normalized tax rate adjustment (h)
0.54
Ongoing measure
$ 97
$ (0.21)
Net sales
$ 3,677
Ongoing EBIT margin
2.6 %
Note: Numbers may not reconcile due to rounding.
SECOND-QUARTER 2026 ONGOING EARNINGS BEFORE INTEREST AND TAXES AND ONGOING EARNINGS PER DILUTED SHARE
The reconciliation provided below reconciles the non-GAAP financial measures ongoing earnings before interest and taxes and ongoing earnings per diluted share, with the most directly comparable GAAP financial measures, net earnings (loss) available to Whirlpool common shareholders and net earnings (loss) per diluted share available to Whirlpool common shareholders, for the three months ended June 30, 2026. Net earnings (loss) margin is calculated by dividing net earnings (loss) available to Whirlpool common shareholders by net sales. Ongoing EBIT margin is calculated by dividing ongoing EBIT by net sales. EBIT margin is calculated by dividing EBIT by net sales. The earnings per diluted share GAAP measure and ongoing measure are presented net of tax, while each adjustment is presented on a pre-tax basis. Our second-quarter GAAP tax rate was 3.5%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our second-quarter adjusted tax rate (non-GAAP) of 25.0%.
Three Months Ended
Earnings Before Interest & Taxes Reconciliation:
June 30, 2026
Net earnings (loss) available to Whirlpool common shareholders
$ 75
Mandatory convertible preferred stock dividends accumulated during the period
13
Net earnings (loss) available to noncontrolling interests
—
Income tax expense (benefit)
3
Interest expense
63
Earnings before interest & taxes
$ 154
Net sales
$ 3,517
Net earnings (loss) margin
2.1 %
Results classification
Earnings before
interest & taxes
Earnings per
diluted share
Reported measure
$ 154
$ 1.15
Restructuring expense (a)
Restructuring costs
41
0.63
Impact of M&A
transactions (d)
Selling, general and
administrative &
(Gain) loss on sale and
disposal of business
(133)
(2.04)
Income tax impact
0.35
Normalized tax rate adjustment (h)
(0.30)
Ongoing measure
$ 62
$ (0.21)
Net sales
$ 3,517
Ongoing EBIT margin
1.8 %
Note: Numbers may not reconcile due to rounding.
FIRST-QUARTER 2026 ONGOING EARNINGS BEFORE INTEREST AND TAXES AND ONGOING EARNINGS PER DILUTED SHARE
The reconciliation provided below reconciles the non-GAAP financial measures ongoing earnings before interest and taxes and ongoing earnings per diluted share, with the most directly comparable GAAP financial measures, net earnings (loss) available to Whirlpool common shareholders and net earnings (loss) per diluted share available to Whirlpool common shareholders, for the three months ended March 31, 2026. Net earnings (loss) margin is calculated by dividing net earnings (loss) available to Whirlpool common shareholders by net sales. Ongoing EBIT margin is calculated by dividing ongoing EBIT by net sales. EBIT margin is calculated by dividing EBIT by net sales. The earnings per diluted share GAAP measure and ongoing measure are presented net of tax, while each adjustment is presented on a pre-tax basis. Our first-quarter GAAP tax rate was (26.9)%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our first-quarter adjusted tax rate (non-GAAP) of 25.0%.
Three Months Ended
Earnings Before Interest & Taxes Reconciliation:
March 31, 2026
Net earnings (loss) available to Whirlpool common shareholders
$ (85)
Mandatory convertible preferred stock dividends accumulated during the period
4
Net earnings (loss) available to noncontrolling interests
—
Income tax expense (benefit)
14
Interest expense
77
Earnings before interest & taxes
$ 9
Net sales
$ 3,273
Net earnings (loss) margin
(2.6) %
Results classification
Earnings before
interest & taxes
Earnings per
diluted share
Reported measure
$ 9
$ (1.43)
Restructuring expense (a)
Restructuring costs
32
0.54
Impact of M&A
transactions (d)
Selling, general and
administrative
2
0.04
Income tax impact
(0.15)
Normalized tax rate adjustment (h)
0.44
Ongoing measure
$ 44
$ (0.56)
Net sales
$ 3,273
Ongoing EBIT margin
1.3 %
Note: Numbers may not reconcile due to rounding.
FOURTH-QUARTER 2025 ONGOING EARNINGS BEFORE INTEREST AND TAXES AND ONGOING EARNINGS PER DILUTED SHARE
The reconciliation provided below reconciles the non-GAAP financial measures ongoing earnings before interest and taxes and ongoing earnings per diluted share, with the most directly comparable GAAP financial measures, net earnings (loss) available to Whirlpool and net earnings (loss) per diluted share available to Whirlpool, for the three months ended December 31, 2025. Net earnings (loss) margin is calculated by dividing net earnings (loss) available to Whirlpool by net sales. Ongoing EBIT margin is calculated by dividing ongoing EBIT by net sales. EBIT margin is calculated by dividing EBIT by net sales. The earnings per diluted share GAAP measure and ongoing measure are presented net of tax, while each adjustment is presented on a pre-tax basis. Our fourth-quarter GAAP tax rate was 27.3%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our fourth-quarter adjusted tax rate (non-GAAP) of (29.7)%.
Three Months Ended
Earnings Before Interest & Taxes Reconciliation:
December 31, 2025
Net earnings (loss) available to Whirlpool
$ 108
Net earnings (loss) available to noncontrolling interests
3
Income tax expense (benefit)
37
Interest expense
85
Earnings before interest & taxes
$ 234
Net sales
$ 4,098
Net earnings (loss) margin
2.7 %
Results classification
Earnings before
interest & taxes
Earnings per
diluted share
Reported measure
$ 234
$ 1.91
Restructuring expense (a)
Restructuring costs
46
0.80
Impairment of goodwill,
intangibles and other
assets (b)
Impairment of goodwill
and other intangibles
106
1.87
Impact of M&A
transactions (c)
(Gain) loss on sale and
disposal of businesses &
Selling, general, and
administrative
Interest and sundry
(income) expense
(235)
(4.15)
Equity method investee –
restructuring charges (e)
Equity method investment
income (loss), net of tax*
(15)
(0.26)
Income tax impact
(0.52)
Normalized tax rate
adjustment (f)
1.44
Ongoing measure
$ 135
$ 1.10
Net sales
$ 4,098
Ongoing EBIT margin
3.3 %
Note: Numbers may not reconcile due to rounding.
*Equity method investment in the Earnings before interest & taxes column is presented as (income) loss
THIRD-QUARTER 2025 ONGOING EARNINGS BEFORE INTEREST AND TAXES AND ONGOING EARNINGS PER DILUTED SHARE
The reconciliation provided below reconciles the non-GAAP financial measures ongoing earnings before interest and taxes and ongoing earnings per diluted share, with the most directly comparable GAAP financial measures, net earnings (loss) available to Whirlpool and net earnings (loss) per diluted share available to Whirlpool, for the three months ended September 30, 2025. Net earnings (loss) margin is calculated by dividing net earnings (loss) available to Whirlpool by net sales. Ongoing EBIT margin is calculated by dividing ongoing EBIT by net sales. EBIT margin is calculated by dividing EBIT by net sales. The earnings per diluted share GAAP measure and ongoing measure are presented net of tax, while each adjustment is presented on a pre-tax basis. Our third-quarter GAAP tax rate was 27.1%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our third-quarter adjusted tax rate (non-GAAP) of (33.5)%.
Three Months Ended
Earnings Before Interest & Taxes Reconciliation:
September 30, 2025
Net earnings (loss) available to Whirlpool
$ 73
Net earnings (loss) available to noncontrolling interests
3
Income tax expense (benefit)
33
Interest expense
92
Earnings before interest & taxes
$ 200
Net sales
$ 4,033
Net earnings (loss) margin
1.8 %
Results classification
Earnings before
interest & taxes
Earnings per
diluted share
Reported measure
$ 200
$ 1.29
Restructuring expense (a)
Restructuring costs
6
0.10
Impact of M&A
transactions (d)
(Gain) loss on sale and
disposal of businesses &
Selling, general, and
administrative
(26)
(0.47)
Income tax impact
(0.12)
Normalized tax rate
adjustment (h)
1.29
Ongoing measure
$ 180
$ 2.09
Net sales
$ 4,033
Ongoing EBIT margin
4.5 %
Note: Numbers may not reconcile due to rounding.
SECOND-QUARTER 2025 ONGOING EARNINGS BEFORE INTEREST AND TAXES AND ONGOING EARNINGS PER DILUTED SHARE
The reconciliation provided below reconciles the non-GAAP financial measures ongoing earnings before interest and taxes and ongoing earnings per diluted share, with the most directly comparable GAAP financial measures, net earnings (loss) available to Whirlpool and net earnings (loss) per diluted share available to Whirlpool, for the three months ended June 30, 2025. Net earnings (loss) margin is calculated by dividing net earnings (loss) available to Whirlpool by net sales. Ongoing EBIT margin is calculated by dividing ongoing EBIT by net sales. EBIT margin is calculated by dividing EBIT by net sales. The earnings per diluted share GAAP measure and ongoing measure are presented net of tax, while each adjustment is presented on a pre-tax basis. Our second-quarter GAAP tax rate was 23.9%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our second-quarter adjusted tax rate (non-GAAP) of 22.5%.
Three Months Ended
Earnings Before Interest & Taxes Reconciliation:
June 30, 2025
Net earnings (loss) available to Whirlpool
$ 65
Net earnings (loss) available to noncontrolling interests
9
Income tax expense (benefit)
29
Interest expense
86
Earnings before interest & taxes
$ 190
Net sales
$ 3,773
Net earnings (loss) margin
1.7 %
Results classification
Earnings before
interest & taxes
Earnings per
diluted share
Reported measure
$ 190
$ 1.17
Restructuring expense (a)
Restructuring costs
2
0.03
Impact of M&A
transactions (c)
Selling, general and
administrative
8
0.15
Income tax impact
(0.04)
Normalized tax rate
adjustment (f)
0.03
Ongoing measure
$ 200
$ 1.34
Net sales
$ 3,773
Ongoing EBIT margin
5.3 %
Note: Numbers may not reconcile due to rounding.
FIRST-QUARTER 2025 ONGOING EARNINGS BEFORE INTEREST AND TAXES AND ONGOING EARNINGS PER DILUTED SHARE
The reconciliation provided below reconciles the non-GAAP financial measures ongoing earnings before interest and taxes and ongoing earnings per diluted share, with the most directly comparable GAAP financial measures, net earnings (loss) available to Whirlpool and net earnings (loss) per diluted share available to Whirlpool, for the three months ended March 31, 2025. Net earnings (loss) margin is calculated by dividing net earnings (loss) available to Whirlpool by net sales. Ongoing EBIT margin is calculated by dividing ongoing EBIT by net sales. EBIT margin is calculated by dividing EBIT by net sales. The earnings per diluted share GAAP measure and ongoing measure are presented net of tax, while each adjustment is presented on a pre-tax basis. Our first-quarter GAAP tax rate was 31.1%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our first-quarter adjusted tax rate (non-GAAP) of 22.5%.
Three Months Ended
Earnings Before Interest & Taxes Reconciliation:
March 31, 2025
Net earnings (loss) available to Whirlpool
$ 71
Net earnings (loss) available to noncontrolling interests
7
Income tax expense (benefit)
43
Interest expense
77
Earnings before interest & taxes
$ 199
Net sales
$ 3,621
Net earnings (loss) margin
2.0 %
Results classification
Earnings before
interest & taxes
Earnings per
diluted share
Reported measure
$ 199
$ 1.28
Restructuring expense (a)
Restructuring costs
10
0.17
Impact of M&A
transactions (c)
Selling, general and
administrative
5
0.09
Income tax impact
(0.06)
Normalized tax rate
adjustment (f)
0.22
Ongoing measure
$ 214
$ 1.70
Net sales
$ 3,621
Ongoing EBIT margin
5.9 %
Note: Numbers may not reconcile due to rounding.
FULL-YEAR 2025 ONGOING EARNINGS BEFORE INTEREST AND TAXES AND ONGOING EARNINGS PER DILUTED SHARE
The reconciliation provided below reconciles the non-GAAP financial measures ongoing earnings before interest and taxes and ongoing earnings per diluted share, with the most directly comparable GAAP financial measures, net earnings (loss) available to Whirlpool and net earnings (loss) per diluted share available to Whirlpool, for the twelve months ended December 31, 2025. Net earnings (loss) margin is calculated by dividing net earnings (loss) available to Whirlpool by net sales. Ongoing EBIT margin is calculated by dividing ongoing EBIT by net sales. EBIT margin is calculated by dividing EBIT by net sales. The earnings per diluted share GAAP measure and ongoing measure are presented net of tax, while each adjustment is presented on a pre-tax basis. Our full-year GAAP tax rate was 27.5%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our full-year adjusted tax (non-GAAP) rate of 3.5%.
Twelve Months Ended
Earnings Before Interest & Taxes Reconciliation:
December 31, 2025
Net earnings (loss) available to Whirlpool
$ 318
Net earnings (loss) available to noncontrolling interests
23
Income tax expense (benefit)
142
Interest expense
341
Earnings before interest & taxes
$ 824
Net sales
$ 15,524
Net earnings (loss) margin
2.2 %
Results classification
Earnings before
interest & taxes
Earnings per
diluted share
Reported measure
$ 824
$ 5.66
Restructuring expense (a)
Restructuring costs
63
1.12
Impairment of goodwill,
intangibles and other
assets (c)
Impairment of goodwill
and other intangibles
106
1.89
Impact of M&A
transactions (d)
(Gain) loss on sale and
disposal of businesses &
Selling, general and
administrative
Interest and sundry
(income) expense
(251)
(4.47)
Legacy EMEA legal matters (f)
Interest and sundry
(income) expense
2
0.04
Equity method investee –
restructuring charges (g)
Equity method investment
income (loss), net of tax*
(15)
(0.26)
Total income tax impact
0.06
Normalized tax rate
adjustment (h)
2.19
Ongoing measure
$ 729
$ 6.23
Net Sales
$ 15,524
Ongoing EBIT Margin
4.7 %
Note: Numbers may not reconcile due to rounding.
*Equity method investment in the Earnings before interest & taxes column is presented as (income) loss
FULL-YEAR 2024 ONGOING EARNINGS BEFORE INTEREST AND TAXES AND ONGOING EARNINGS PER DILUTED SHARE
The reconciliation provided below reconciles the non-GAAP financial measures ongoing earnings before interest and taxes and ongoing earnings per diluted share, with the most directly comparable GAAP financial measures, net earnings (loss) available to Whirlpool and net earnings (loss) per diluted share available to Whirlpool, for the twelve months ended December 31, 2024. Net earnings (loss) margin is calculated by dividing net earnings (loss) available to Whirlpool by net sales. Ongoing EBIT margin is calculated by dividing ongoing EBIT by net sales. EBIT margin is calculated by dividing EBIT by net sales. The earnings per diluted share GAAP measure and ongoing measure are presented net of tax, while each adjustment is presented on a pre-tax basis. Our full-year GAAP tax rate was (5.5)%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our full-year adjusted tax (non-GAAP) rate of (28.6)%.
Twelve Months Ended
Earnings Before Interest & Taxes Reconciliation:
December 31, 2024
Net earnings (loss) available to Whirlpool
$ (323)
Net earnings (loss) available to noncontrolling interests
18
Income tax expense (benefit)
10
Interest expense
358
Earnings before interest & taxes
$ 63
Net sales
$ 16,607
Net earnings (loss) margin
(1.9) %
Results classification
Earnings before
interest & taxes
Earnings per
diluted share
Reported measure
$ 63
$ (5.87)
Restructuring expense (a)
Restructuring costs
79
1.44
Impairment of goodwill,
intangibles and other
assets (c)
Impairment of goodwill
and other intangibles
381
6.92
Impact of M&A
transactions (d)
(Gain) loss on sale and
disposal of businesses &
Selling, general and
administrative
292
5.30
Legacy EMEA legal matters (f)
Interest and sundry
(income) expense
(2)
(0.04)
Equity method investee –
restructuring charges (g)
Equity method investment
income (loss), net of tax*
74
1.34
Total income tax impact
4.28
Normalized tax rate
adjustment (h)
(1.16)
Ongoing measure
$ 887
$ 12.21
Net Sales
$ 16,607
Ongoing EBIT Margin
5.3 %
Note: Numbers may not reconcile due to rounding.
*Equity method investment in the Earnings before interest & taxes column is presented as (income) loss
FULL-YEAR 2026 OUTLOOK FOR ONGOING EARNINGS BEFORE INTEREST AND TAXES AND ONGOING EARNINGS PER DILUTED SHARE
The reconciliation provided below reconciles the non-GAAP financial measures ongoing earnings before interest and taxes and ongoing earnings per diluted share, with the most directly comparable GAAP financial measures, net earnings available to Whirlpool common shareholders and net earnings per diluted share available to Whirlpool common shareholders, for the twelve months ending December 31, 2026. Net earnings margin is calculated by dividing net earnings available to Whirlpool common shareholders by net sales. Ongoing EBIT margin is calculated by dividing ongoing EBIT by net sales. EBIT margin is calculated by dividing EBIT by net sales. The earnings per diluted share GAAP measure and ongoing measure are presented net of tax, while each adjustment is presented on a pre-tax basis. Our anticipated full-year GAAP tax rate is approximately 8.0%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our anticipated full-year adjusted tax (non-GAAP) rate of approximately 25.0%.
Twelve Months Ending
Earnings Before Interest & Taxes Reconciliation:
December 31, 2026
Net earnings (loss) available to Whirlpool common shareholders
(~$320)
Mandatory convertible preferred stock dividends accumulated during
the period
~40
Net earnings available to noncontrolling interests
—
Income tax expense (benefit)
(~15)
Interest expense
~350
Earnings before interest & taxes
~$55
Net sales
~$14,500
Net earnings margin
~(2.2) %
Twelve Months Ending
December 31, 2026
Results classification
Earnings before
interest & taxes*
Earnings per
diluted share
Reported measure
~$55
(~$4.95)
Restructuring Expense
Restructuring Costs
~170
~2.65
Impairment of equity
method investment
Equity method
investment income (loss),
net of tax
124
1.90
Impact of M&A transactions
Selling, general and
administrative &
(Gain) loss on sale and
disposal of business
(~110)
(1.75)
Trade customer bankruptcy
reorganization impact
Selling, general and
administrative
54
0.85
Total income tax impact
(0.40)
Normalized tax rate
adjustment (h)
0.40
Ongoing measure
~$293
(~$1.30)
Net Sales
~$14,500
Ongoing EBIT Margin
2.0 – 2.2 %
Note: Numbers may not reconcile due to rounding.
FOURTH-QUARTER 2026 OUTLOOK FOR ONGOING EARNINGS BEFORE INTEREST AND TAXES AND ONGOING EARNINGS PER DILUTED SHARE
The reconciliation provided below reconciles the non-GAAP financial measures ongoing earnings before interest and taxes and ongoing earnings per diluted share, with the most directly comparable GAAP financial measures, net earnings available to Whirlpool common shareholders and net earnings per diluted share available to Whirlpool common shareholders, for the three months ending December 31, 2026. Net earnings margin is calculated by dividing net earnings available to Whirlpool common shareholders by net sales. Ongoing EBIT margin is calculated by dividing ongoing EBIT by net sales. EBIT margin is calculated by dividing EBIT by net sales. The earnings per diluted share GAAP measure and ongoing measure are presented net of tax, while each adjustment is presented on a pre-tax basis. Our anticipated fourth-quarter GAAP tax rate is approximately 47.5%. The aggregate income tax impact of the taxable components of each adjustment is presented in the income tax impact line item at our anticipated fourth-quarter adjusted tax (non-GAAP) rate of approximately 25.0%.
Three Months Ended
Earnings Before Interest & Taxes Reconciliation:
December 31, 2026
Net earnings (loss) available to Whirlpool common shareholders
(~$55)
Mandatory convertible preferred stock dividends accumulated during
the period
~12
Net earnings available to noncontrolling interests
—
Income tax expense (benefit)
(~40)
Interest expense
~103
Earnings before interest & taxes
~$21
Net sales
~$4,000
Net earnings margin
~(0.4) %
Three Months Ending
December 31, 2026
Results classification
Earnings before
interest & taxes*
Earnings per
diluted share
Reported measure
~$21
(~$0.83)
Restructuring Expense
Restructuring Costs
~62
~0.94
Impact of M&A transactions
Selling, general and
administrative &
(Gain) loss on sale and
disposal of business
~5
0.08
Total income tax impact
(0.26)
Normalized tax rate adjustment (h)
(0.29)
Ongoing measure
~$89
(~$0.35)
Net Sales
~$4,000
Ongoing EBIT Margin
~2.2 %
Note: Numbers may not reconcile due to rounding.
FOOTNOTES
a.
RESTRUCTURING EXPENSE – On July 1, 2026, the Company announced restructuring actions related to the closure of its Supsa manufacturing facility in Apodaca, Mexico which is expected to cease production by the second quarter of 2027. The Company incurred $33 million and $24 million in related expenses in the second and third quarters of 2026, respectively.
In the third quarter of 2026, the company incurred an additional $11 million in other restructuring for previously approved restructuring actions.
In March 2026, the Company committed to workforce reduction plans and multi-region footprint optimization plans in the United States and globally, in an effort to reduce complexity and simplify our organization. The plan includes severance and impairment charges. Total costs for these actions in the second quarter of 2026 were $3 million.
In the second quarter of 2026, the company incurred an additional $5 million in other restructuring for previously approved restructuring actions.
In the first and third quarters of 2025, restructuring actions were announced related to organizational simplification efforts. In 2025, we incurred $63 million in costs related to multi-region footprint optimization.
In March 2024, the Company committed to workforce reduction plans in the United States and globally, in an effort to reduce complexity and simplify our organizational model after the European major domestic appliance transaction. The workforce reduction plans included involuntary severance actions as of the end of the first quarter of 2024. Total costs for these actions were $21 million, of which we incurred $14 million in employee termination costs and $7 million in other associated costs.
During the second quarter of 2024, the Company evaluated additional restructuring actions as part of the Company’s organizational simplification efforts. Total costs for these actions were $58 million, which were primarily employee termination costs.
b.
IMPAIRMENT OF EQUITY METHOD INVESTMENT – During the third quarter of 2026, the Company recorded a non-cash impairment charge of $124 million related to its equity method investment in Whirlpool India. The impairment was driven by a prolonged decline in the market value of Whirlpool India based on its stock price. The charge was recognized within Equity method investment income (loss), net of tax in the Consolidated Condensed Statements of Comprehensive Income (Loss).
c.
IMPAIRMENT OF GOODWILL, INTANGIBLES AND OTHER ASSETS – During the fourth quarter of 2025, we determined the carrying value of the JennAir trademark exceeded its fair value, resulting in an impairment charge of $106 million.
During the fourth quarter of 2024, we determined that the carrying value of the Maytag trademark exceeded its fair value, resulting in an impairment charge of $381 million.
d.
IMPACT OF M&A TRANSACTIONS – In the fourth quarter of 2025, we sold an 11% stake in our India business and deconsolidated, resulting in a gain of $251 million. In the second and third quarters of 2026 we incurred $2 million in related M&A transaction costs per quarter. In addition, in the first through third quarter of 2025, we incurred $15 million in related M&A transaction costs that are recorded in Selling, General and Administrative expenses on our Consolidated Condensed Statements of Comprehensive Income (Loss).
The Company incurred other unique transaction related costs related to portfolio transformation for a total of $11 million for the three months ended September 30, 2026. These transaction costs are recorded in Selling, General and Administrative expenses on our Consolidated Condensed Statements of Comprehensive Income (Loss).
In June 2026, we reached an agreement with Arcelik to sell Whirlpool’s remaining 25% stake in Beko to Beko BV (a subsidiary of Arcelik), accelerate and terminate certain deferred rights related to the August 2022 divestiture of our Russian business, and simplify and eliminate certain long-term obligations and liabilities between Whirlpool and Arcelik. Furthermore, Whirlpool received cash consideration and acquired a ~2.9% equity stake in Arcelik under the terms of the agreement. In connection with the transaction, we received net cash proceeds of $84 million and recorded a gain of $139 million for the three months ended June 30, 2026. The total transaction amount includes $82 million from the sale of our Beko stake, $46 million from the termination of the Russia agreement, and $11 million from the release of previously accrued indemnities and other comprehensive income.
Additionally, the Company incurred other unique transaction related costs related to portfolio transformation for $4 million for the three months ended June 30, 2026. These transaction costs are recorded in Selling, General and Administrative expenses on our Consolidated Condensed Statements of Comprehensive Income (Loss).
The Company incurred unique transaction related costs related to portfolio transformation for a total of $4 million for the three months ended September 30, 2025.
Additionally, in the third quarter of 2025, we released a $30 million reserve related to an indemnity that was no longer considered probable. This gain is recorded in Loss (Gain) on Sale and Disposal of Businesses on our Consolidated Condensed Statements of Comprehensive Income (Loss).
On January 16, 2023, the Company signed a contribution agreement to contribute our European major domestic appliance business into a newly formed entity with Arcelik. In connection with the transaction, which closed on April 1, 2024, the Company recorded a loss on disposal of $298 million for the twelve months ended December 31, 2024.
The Company incurred other unique transaction related costs related to portfolio transformation for $28 million for the twelve months ended December 31, 2024. These transaction costs are recorded in Selling, General and Administrative expenses on our Consolidated Condensed Statements of Comprehensive Income (Loss).
In the third quarter of 2024, we recorded a gain of $34 million related to the sale of the Company’s Brastemp-branded water filtration subscription business related to our portfolio transformation
e.
TRADE CUSTOMER BANKRUPTCY REORGANIZATION IMPACT – During the third quarter of 2026, the Company recorded a charge of $54 million related to the bankruptcy reorganization of a significant trade customer in Latin America, which is not indicative of ongoing operational performance. This charge includes $46 million of trade customer credit losses, net of expected credit insurance recoveries (reflecting $157 million of gross accounts receivable impairments, net of $112 million of expected credit insurance recoveries), and $8 million of other direct charges resulting from the event.
f.
LEGACY EMEA LEGAL MATTERS – During the second quarter of 2025 and fourth quarter of 2024 we recorded immaterial amounts related to legacy matters of our European major domestic appliance business.
g.
EQUITY METHOD INVESTEE – RESTRUCTURING CHARGES – During the fourth quarter of 2024, we recorded our proportionate share of restructuring charges related to certain previously announced restructuring actions by our European equity method investee. During the fourth quarter of 2025, we reversed $15 million of this provision.
h.
NORMALIZED TAX RATE ADJUSTMENT – During the third quarter of 2026, the Company calculated a GAAP tax rate of (6.8)%. Ongoing earnings per share was calculated using an adjusted tax rate of 25.0%, which excludes the tax impacts related to M&A transaction costs, impairment of equity method investment in Whirlpool India, trade customer bankruptcy reorganization impacts and restructuring actions.
For the full year 2025, the Company calculated a GAAP tax rate of 27.5%. Ongoing earnings per share was calculated using an adjusted tax rate of 3.5%, which excludes the tax impacts related to M&A transactions, the JennAir intangible impairment charge, and restructuring actions.
For the full year 2024, the Company calculated a GAAP tax rate of (5.5)%. Ongoing earnings per share was calculated using an adjusted tax rate of (28.6)%, which excludes the tax impacts related to M&A transactions, the Maytag intangible impairment charge, and certain other tax impacts related to the Europe transaction.
Additionally, in the full-year 2026 outlook, the Company calculated ongoing earnings per share using a full-year adjusted tax (non-GAAP) rate of approximately 25.0%.
NET SALES AND ONGOING EBIT EXCLUDING MDA INDIA 2025
The reconciliation provided below reconciles the impact of removing MDA India from our net sales and ongoing EBIT for the twelve months ended December 31, 2025 for the Whirlpool business. Please see elsewhere in this Supplemental Information section for a reconciliation of Ongoing EBIT to GAAP reported net earnings (loss) available to Whirlpool.
2025 As
Reported
MDA India*
2025
Like-for-Like
Net Sales (in billions)
$15.5
$0.8
~$14.7
Ongoing EBIT (in millions)
$729
$41
~$688
Ongoing EBIT Margin
4.7 %
5.0 %
~4.7 %
Note: Numbers may not reconcile due to rounding.
*2025 India financial data (unaudited).
NET SALES AND ONGOING EBIT EXCLUDING MDA EUROPE 2024 FIRST QUARTER AND MDA INDIA 2024 DECEMBER
The reconciliation provided below reconciles the impact of removing Q1 MDA Europe from our net sales and ongoing EBIT for the twelve months ended December 31, 2024 for the Whirlpool business. Please see elsewhere in this Supplemental Information section for a reconciliation of Ongoing EBIT to GAAP reported net earnings (loss) available to Whirlpool.
2024 As
Reported
Q1 2024
MDA Europe*
2024 MDA
India**
2024
Like-for-Like
Net Sales (in billions)
$16.6
$0.8
$0.9
~$14.9
Ongoing EBIT (in millions)
$887
($9)
$32
~$864
Ongoing EBIT Margin
5.3 %
(1.1) %
3.6 %
~5.8 %
Note: Numbers may not reconcile due to rounding.
*Q1 historical segment financial data (unaudited).
**India financial data (unaudited).
Net Sales Year Over Year Change Walk
The reconciliation provided below reconciles the year over year change in net sales percentage utilizing like-for-like net sales figures.
Net Sales
Twelve Months Ended December 31,
(Approximate impact in
billions of dollars)
2024 Like-for-Like
$14.9
2025 Like-for-Like
$14.7
YoY Change
(1.4) %
2025 Like-for-Like
$14.7
2026 Outlook
$14.5
YoY Change
(1.5) %
Note: Numbers may not reconcile due to rounding.
FREE CASH FLOW
Free cash flow is cash provided by (used in) operating activities after capital expenditures. The reconciliation provided below reconciles nine months ended September 30, 2026 and 2025 and 2026 full-year free cash flow with cash provided by (used in) operating activities, the most directly comparable GAAP financial measure. Free cash flow as a percentage of net sales is calculated by dividing free cash flow by net sales.
Nine Months Ended
September 30,
(millions of dollars)
2026
2025
2026 Outlook
Cash provided by (used in) operating activities
$ (826)
$ (669)
~$700
Capital expenditures
(255)
(239)
(~400)
Free cash flow
$ (1,081)
$ (907)
~$300
Cash provided by (used in) investing activities*
$ (148)
$ (239)
Cash provided by (used in) financing activities*
$ 1,380
$ 503
*Financial guidance on a GAAP basis for cash provided by (used in) financing activities and cash provided by (used in) investing activities has not been provided because in order to prepare any such estimate or projection, the Company would need to rely on market factors and certain other conditions and assumptions that are outside of its control.
EQUITY METHOD INVESTMENT INCOME (LOSS), NET OF TAX
The reconciliation provided below reconciles the non-GAAP financial measure ongoing equity method investment income (loss), net of tax to GAAP reported equity method investment income (loss), net of tax, for the three months ended September 30, 2025 and 2026 for the Whirlpool business.
Three Months Ended
September 30,
2026
2025
Equity method investment income (loss), net of tax
$ (118)
$ (11)
Impairment of Equity Method Investment
124
—
Ongoing Measure
$ 6
$ (11)
Note: Numbers may not reconcile due to rounding.
ORGANIC NET SALES
The reconciliation provided below reconciles the non-GAAP financial measure organic net sales to GAAP reported net sales, for three months ended September 30, 2025 and 2026 for the Whirlpool business.
Three Months Ended
September 30,
(Approximate impact in millions of dollars)
2026
2025
Change
Net Sales
$ 3,677
$ 4,033
(8.8) %
Less: India Sales
—
180
Less: Currency
34
—
Organic Net Sales
$ 3,643
$ 3,852
(5.4) %
Note: Numbers may not reconcile due to rounding.
View original content to download multimedia:https://www.prnewswire.com/news-releases/whirlpool-corporation-announces-third-quarter-results-302919662.html
SOURCE Whirlpool Corporation
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Technology
Kaspersky Earns Frost & Sullivan’s 2026 Global Company of the Year Recognition for Global APT Intelligence & Attribution
Published
3 seconds agoon
October 26, 2026By
Recognition highlights Kaspersky’s capabilities in advanced threat intelligence, adversary attribution, and intelligence-led cybersecurity.
SAN ANTONIO, Oct. 26, 2026 /PRNewswire/ — Frost & Sullivan is pleased to recognize Kaspersky with the 2026 Global Company of the Year Recognition for Global APT Intelligence & Attribution. The recognition reflects Kaspersky’s strategic approach to advanced persistent threat (APT) research, cyber threat intelligence, and attribution, as well as its development of integrated cybersecurity capabilities designed to address increasingly sophisticated digital threats.
As organizations navigate an evolving threat landscape shaped by artificial intelligence (AI), expanding cloud environments, and increasingly complex cyberattacks, actionable threat intelligence and proactive defense strategies have become increasingly important. Kaspersky draws on nearly three decades of cybersecurity research, global threat telemetry, threat attribution expertise, and AI-assisted security analytics to support organizations in identifying, investigating, and responding to emerging threats.
A defining aspect of Kaspersky’s approach is its use of threat data to develop contextualized intelligence that helps organizations understand adversary behavior, investigate suspicious activity, and strengthen security operations. Through specialized research teams, including its Global Research and Analysis Team (GReAT) and Kaspersky Industrial Control Systems Cyber Emergency Response Team (ICS CERT), the company investigates advanced threats and produces intelligence to support proactive threat hunting, incident investigation, and response.
Kaspersky’s broader cybersecurity portfolio connects threat intelligence with endpoint protection, extended detection and response (XDR), security information and event management (SIEM), cloud security, network security, and managed security services. These capabilities support visibility across distributed environments and enable organizations to coordinate detection, investigation, and response activities within increasingly complex IT infrastructures.
The company’s capabilities also encompass APT research, cyber attribution, industrial cybersecurity, and AI-assisted security operations. By combining machine learning and automated analytics with expert human validation, Kaspersky supports threat analysis while maintaining the analytical rigor required for reliable intelligence assessments. Its contributions to the broader cybersecurity ecosystem include research publications, industry collaboration, partner enablement, and cybersecurity training initiatives.
Beyond technical capabilities, Kaspersky emphasizes transparency, governance, and secure development practices as elements of enterprise cybersecurity. Initiatives such as its Transparency Centers, alongside independent security assessments and internationally recognized certifications, reflect its efforts to address customer expectations concerning security assurance, regulatory requirements, and data handling.
Commenting on Kaspersky’s strategic positioning, Sapan Agarwal, SVP, Frost & Sullivan, said, “Kaspersky effectively aligns its portfolio with evolving enterprise security requirements by integrating threat intelligence, platform consolidation, cloud protection, and governance. This intelligence-led approach strengthens operational resilience, simplifies security management, and enhances its competitive positioning amid increasingly complex cyber threat landscapes.”
“Turning high-confidence threat intelligence into a reliable foundation for corporate growth is the core driver of our strategy. Earning this prestigious recognition from Frost & Sullivan is a powerful validation of our approach. As organizations navigate complex digital transformations, cloud migrations, and tightening regulatory environments, cyber risk management becomes a boardroom priority. Being named Company of the Year proves that Kaspersky Threat Intelligence provides enterprises with the exact clarity, completeness, and credibility they need to neutralize advanced adversaries and ensure long-term business development,” comments Gleb Gritsai, VP, Corporate Products at Kaspersky.
Through its investment in research, threat intelligence, and integrated security capabilities, Kaspersky demonstrates an approach aligned with the evolving requirements of the Global APT Intelligence & Attribution market. Its combination of adversary research, attribution expertise, and operational security technologies supports organizations seeking to strengthen their understanding of advanced threats and improve their cybersecurity response.
Frost & Sullivan’s 2026 Global Company of the Year Recognition for Global APT Intelligence & Attribution acknowledges Kaspersky’s performance and strategic direction within this market. The recognition highlights the role of intelligence-driven cybersecurity in helping organizations assess emerging threats, inform security decisions, and strengthen resilience against increasingly sophisticated attacks.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Contact:
Tarini Singh
P: +91- 9953764546
E: Tarini.Singh@frost.com
About Kaspersky
Kaspersky is a global cybersecurity and digital privacy company founded in 1997. With over a billion devices protected to date from emerging cyberthreats and targeted attacks, Kaspersky’s deep threat intelligence and security expertise is constantly transforming into innovative solutions and services to protect individuals, businesses, critical infrastructure and governments around the globe. The company’s comprehensive security portfolio includes leading digital life protection for personal devices, specialized security products and services for companies, as well as Cyber Immune solutions to fight sophisticated and evolving digital threats. We help millions of individuals and nearly 200,000 corporate clients protect what matters most to them. Learn more at www.kaspersky.com.
View original content:https://www.prnewswire.com/news-releases/kaspersky-earns-frost–sullivans-2026-global-company-of-the-year-recognition-for-global-apt-intelligence–attribution-302919887.html
SOURCE Frost & Sullivan
Technology
Individual Centricity wins patent approval for identity technology to fight deepfake fraud
Published
7 seconds agoon
October 26, 2026By
When AI can fake anyone, how do you know who’s really there? IC-Corp answers at “The Door Back to Real™,” a free virtual presentation on Thursday, November 12
PORTLAND, Ore., Oct. 26, 2026 /PRNewswire/ — The U.S. Patent and Trademark Office has issued a Notice of Allowance for Individual Centricity Corporation’s (IC-Corp) U.S. Patent Application No. 18/328,438, Individually Centric Device, System and Method for Authenticating Device User Identity. Examination is complete and the claims have been found patentable. By working on the individual’s own device instead of central databases, the approach addresses the flaw deepfakes now exploit.
According to Hong Kong police, in January 2024, a finance employee at engineering firm Arup’s Hong Kong office joined a video call with his company’s chief financial officer and several colleagues. He knew their faces. He knew their voices. He went on to send $25.6 million in 15 transfers to fraudsters. Every one of those people was a deepfake.
Every face on that call passed the question today’s security asks: does it match? IC-Corp asks a different question: is the entity here right now the one you expect, and is that still true a minute from now? Not “does it match?” but “is it true?”
At “The Door Back to Real™” on Thursday, November 12, 2026, from 9:00 to 10:30 a.m. Pacific, IC-Corp will share how it answers the question “When AI can fake anyone, how do you know who’s really there?” The company will demonstrate how the 1TrueU™ approach works, and show the gap between today and the future. The free webinar runs one hour, followed by 30 minutes of questions and answers.
Save your seat: https://www.bethe1trueu.com/registration-icc-presentation-2026
Technical milestones and validation
Individually Centric Device System: The focus is whether it’s the one expected, and still is, not whether it matched once.Learns the one, not the many: The system learns the individual instead of comparing them against a database of other people. Faking one channel is easy. Faking their agreement is the hard part.Decentralized data privacy: Verification happens on the individual’s own device: no name, no address, no personal file, no database to steal. No surveillance, no stored personal data, just individual autonomy and sovereignty.Intellectual property expansion: IC-Corp also filed twelve additional provisional patent applications in October 2026.
“Everyone else is guarding a vault full of your data. We upload nothing that can be stolen or faked,” said Bob DeKoning, CEO of IC-Corp.
Endorsed by Karl Friston. Friston, of University College London, is one of the most highly cited scientists alive and the main architect of the free energy principle, which explains how the brain predicts what to expect and notices surprise. IC-Corp’s approach works the same way.
Co-founder Juval Löwy, named a “Software Legend” by Microsoft and founder of IDesign, is now leading the hiring of IC-Corp’s development team to finish the product design and begin pilot testing in Q1 2027.
Save your seat for “The Door Back to Real™” on November 12: https://www.bethe1trueu.com/registration-icc-presentation-2026
About Individual Centricity Corporation
Individual Centricity Corporation (IC-Corp) offers first-of-its-kind trust infrastructure for the AI era, beginning with its identity product, 1TrueU™. Individually-centric validation: the only way to secure any identity, human or otherwise.
Learn more at https://individualcentricity.com
Media contact: Kelley Moreno, VP of Marketing, Individual Centricity Corporation, Kelley.Moreno@IndividualCentricity.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/individual-centricity-wins-patent-approval-for-identity-technology-to-fight-deepfake-fraud-302920005.html
SOURCE Individual Centricity
Technology
Dyslexia Decoded: Students speak of how Dysolve cleared their reading difficulty in 100 Voices campaign
Published
10 seconds agoon
October 26, 2026By
Released during Dyslexia Awareness Month, the stories of former struggling readers feature the multiple facets of dyslexia and their transformation with new technology.
LAGRANGEVILLE, N.Y., Oct. 26, 2026 /PRNewswire/ — What is it like inside the head of someone with dyslexia? How does the teacher feel when a 5th grader still can’t read? The developer of Dysolve®, the world’s first expert system for dyslexia, today introduced 100 Voices on Dyslexia, an education campaign featuring the multiple facets of this brain-based reading difficulty affecting 1 in 5 people.
Based on the company’s 3 decades of field research, Dysolve’s public education campaign gives a closeup look on the challenges faced by individuals with dyslexia, from the linguistic to the psycho-social and economic.
The students speaking out in the 100 Voices are going on record that Dysolve cleared their reading difficulty. Many had struggled for years into middle school and beyond before finding this solution. Each person has consented to share their name and has documented results showing they reached grade-level reading.
The 100 Voices also include families and teachers, adult non-readers and a learner in his 80s. Their accounts are being shared at dysolve.ai and on YouTube at @dysolveofficial during Dyslexia Awareness Month.
The milestone reflects what Dysolve was built to do. Dysolve has decoded dyslexia by locating the language processing problems underneath it and clearing them at the root. “Dysolve primes the brain so learning can finally occur. When processing becomes efficient, reading follows,” said Dr. Coral PS Hoh, a clinical linguist and Founder and architect of Dysolve.
Many families spent years on tutoring, school interventions and IEP meetings before finding Dysolve. In 100 Voices, special education teachers from Ohio, Illinois and New York share what they saw when students who had stalled for years began to read.
Dysolve’s approach was validated by a randomized controlled trial conducted by the Center for Research in Education and Social Policy (CRESP) at the University of Delaware from 2022 to 2025, with 848 students across 32 schools in 9 states. Participants averaged near the bottom 10th percentile in reading, and more than 96% were economically disadvantaged. The Dysolve group’s reading comprehension gains were 33% larger in state and standardized assessments than the control group’s after about three hours of use over three weeks. The research paper is under journal review.
Dysolve was recently named a 2026 Stevie® Award winner for Best AI Solution for Social Impact and a 2026 NewSchools Venture Fund grant recipient.
About Dysolve
Dysolve® assesses and clears the language processing problems underlying dyslexia. Developed by EduNational®, a New York company founded in 2007 by clinical linguist Dr. Coral PS Hoh, Dysolve builds an individualized program for each learner and responds as that learner improves. Its efficacy has been validated by a randomized controlled trial by the University of Delaware’s Center for Research in Education and Social Policy. Dysolve’s AI technology has been awarded patents by the United States, Canada, China, Japan and Korea. Learn more at dysolve.ai.
Media contact: Dr. Coral PS Hoh, CEO, EduNational®, pshoh@edu-national.com, 844-DYSOLVE###
View original content to download multimedia:https://www.prnewswire.com/news-releases/dyslexia-decoded-students-speak-of-how-dysolve-cleared-their-reading-difficulty-in-100-voices-campaign-302920009.html
SOURCE Dysolve
Kaspersky Earns Frost & Sullivan’s 2026 Global Company of the Year Recognition for Global APT Intelligence & Attribution
Individual Centricity wins patent approval for identity technology to fight deepfake fraud
Dyslexia Decoded: Students speak of how Dysolve cleared their reading difficulty in 100 Voices campaign
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