Whirlpool sales up 20% in Q1
Benton Harbor, Mich.-based Whirlpool has announced first quarter net income of $164 million, up 141% from the same period last year of $68 million.
Sales for the quarter were $4.3 billion, up 20% from $3.6 billion as reported for the same period last year.
The company said sales in the North American market increased 7% to $2.3 billion for the quarter.
"We are pleased with the strong operational performance we reported in all of our regions," said Jeff Fettig, chairman and CEO of Whirlpool. "Our results reflect our lower breakeven point, continued innovation investment, and our expanding global product offerings. By continuing to drive productivity improvements and leveraging our lower breakeven point, we are able to expand our operating margins and accelerate profitable growth," he said.