Whirlpool (WHR) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

July 26, 2022 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning. And welcome to Whirlpool Corporation’s Second Quarter 2022 Earnings Release Call. Today’s call is being recorded. For opening remarks and introductions, I would like to turn the call over to Senior Director of Investor Relations, Korey Thomas.

Korey Thomas

Thank you. And welcome to our second quarter conference call. Joining me today are Marc Bitzer, our Chairman and Chief Executive Officer; Jim Peters, our Chief Financial Officer; and Joe Liotine, our Chief Operating Officer. Our remarks today track with a presentation available on the Investors section of our website at whirlpoolcorp.com.

Before we begin, I want to remind you that as we conduct this call, we will be making forward-looking statements to assist you in better understanding Whirlpool Corporation’s future expectations. Our actual results could differ materially from these statements due to many factors discussed in our latest 10-K, 10-Q and other periodic reports.

We also want to remind you that today’s presentation includes non-GAAP measures. We believe these measures are important indicators of our operations as they exclude items that may not be indicative of results from our ongoing business operations. We also think the adjusted measures will provide you a better baseline for analyzing trends in our ongoing business operations.

Additionally, price increases or pricing actions referenced throughout this call reflect previously announced cost-based price increases. Listeners are directed to the supplemental information package posted on the Investor Relations section of our website for the reconciliation of non-GAAP items to the most directly comparable GAAP measures.

At this time, all participants are in a listen-only mode. Following our prepared remarks, the call will be open for analyst questions. As a reminder, we ask that participants to ask no more than two questions.

With that, I will turn the call over to Marc.

Marc Bitzer

Thanks, Korey, and good morning, everyone. Before I get into the results of the quarter, I’d like to step back and share with you the progress that we are making structurally improving Whirlpool for the better.

We have a clear line of sight on the long-term success of the business and then driving shareholder value. Whirlpool has become a stronger entity today versus historically. We operate in a healthy long-term growing markets and our long-term growth outlook remains unchanged. Our brands are strong and consumers use them daily and will use them even more in the future.