Whirlpool Corporation (NYSE:WHR) Q4 2023 Earnings Conference Call January 30, 2024 8:00 AM ET
Company Participants
Korey Thomas - Investor Relations
Marc Bitzer - Chairman and Chief Executive Officer
Jim Peters - Chief Financial Officer
Conference Call Participants
Sam Darkatsh - Raymond James
Mike Rehaut - JPMorgan
Susan Maklari - Goldman Sachs
David MacGregor - Longbow Research
Mike Dahl - RBC Capital Markets
Jason Haas - Bank of America
Eric Bosshard - Cleveland Research
Korey Thomas
Good morning, and welcome to Whirlpool Corporation's Fourth Quarter 2023 Earnings Call. Today's call is being recorded.
Joining me today are Marc Bitzer, our Chairman and Chief Executive Officer; and Jim Peters, our Chief Financial Officer. Our remarks today track with a presentation available in the Investors section of our website at whirlpoolcorp.com.
Before we begin, I want to remind you that as we conduct this call, we'll 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, outlined in further detail at the beginning of our earnings presentation. We believe these measures are important indicators of our operations as they exclude items that may not be indicative of our results from our ongoing business operations. We also think the adjusted measures will provide you with a better baseline for analyzing trends in our ongoing business operations. 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 opened for analyst questions. As a reminder, we ask that participants ask no more than two questions.
With that, I'll turn the call over to Marc.
Marc Bitzer
Thanks, Korey, and good morning, everyone.
Today marks our first earnings call in the new year, and I do appreciate that everyone's attention will be on our perspective for 2024. However, I want to take the opportunity to reflect and look back at last year.
During this past year, there have been a number of achievements we're proud of. One, we gained more than 1 point of market share in North America. This is a clear testimony of the success of our great products and brands in the marketplace. Two, we were able to reduce our net cost base by $800 million, which is what we had in mind when we started the year. And three, the signing of our EMEA transaction with Arçelik marked a major milestone in our portfolio transformation and is expected to provide significant opportunities to unlock value.