BENTON HARBOR, Mich., May 22, 2019 /PRNewswire/ -- Whirlpool Corporation (NYSE:WHR) is meeting with investors and analysts at its 2019 Investor Day event in New York City tomorrow, May 23, 2019. Whirlpool's senior management will highlight the strong investment case for Whirlpool Corporation, including our unique structural position as the world's leading major home appliance company, our strategic digital transformation journey and the regional catalysts that will enable us to drive superior value creation.
"We have a strong global competitive position, the best brand portfolio, the best-cost position and innovation that delivers real benefits to our consumers," said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation. "That industry leading position combined with our strategic digital transformation will drive additional benefits throughout our value chain, leading to significant value creation for our shareholders."
In the presentation, Whirlpool Corporation's chief executive officer and regional presidents will highlight key initiatives to drive long-term margin expansion, while Jim Peters, executive vice president and chief financial officer, will further articulate the drivers of our long-term value creation goals.
Long-Term Value Creation Goals:
- Earnings before interest and tax (EBIT) margin of approximately 10%
- Free cash flow as a percent of sales of 6%+
- Return on invested capital (ROIC) of 12-14%
"Our long-term value creation goals highlight our strong commitment to delivering margin expansion in all regions and improved free cash flow," said Peters. "We are committed to fully investing in our business to provide innovative products and services to our consumers, while also maintaining proper financial flexibility and returning excess cash to shareholders."
To listen to the live webcast at 9:00 a.m. Eastern Time, participants should visit the site at least 15 minutes prior to the presentation to download any required streaming media software. Presentation materials and an archived recording of the event will be available at Whirlpoolcorp.com by clicking on the "Investors" tab and then clicking on "Events & Presentations." The materials will be archived for at least 30 days.
About Whirlpool Corporation
Whirlpool Corporation (NYSE: WHR) is the world's leading major home appliance company, with approximately $21 billion in annual sales, 92,000 employees and 65 manufacturing and technology research centers in 2018. The company markets Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit and other major brand names in nearly every country throughout the world. Additional information about the company can be found at WhirlpoolCorp.com, or find us on Twitter at @WhirlpoolCorp.
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 Corporation Additional Information
This document contains forward-looking statements about Whirlpool Corporation and its consolidated subsidiaries that speak only as of this date. Whirlpool disclaims any obligation to update these statements. Forward-looking statements in this document may include, but are not limited to, statements regarding EBIT, ROIC, cash flow and value creation expectations. Many risks, contingencies and uncertainties could cause actual results to differ materially from Whirlpool's forward-looking statements, including the risk that Whirlpool is delayed in meeting or does not meet its operational and value creation objectives. Additional information concerning these and other factors can be found in Whirlpool's filings with the Securities and Exchange Commission, including the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. Whirlpool does not provide a Non-GAAP reconciliation for its forward-looking long-term value creation goals, as such reconciliation would rely on market factors and certain other conditions and assumptions that are outside of the company's control. The world's leading major home appliance company claim is based on most recently available publicly reported annual revenues among leading appliance manufacturers.
SOURCE Whirlpool Corporation