Whirlpool sales up 3% in Q3

Appliance giant Whirlpool Corporation reported 3Q 2017 net sales of $5.4 billion, up 3% compared to net sales of $5.2 billion in the same period a year ago.

The Benton Harbor, Mich.-based manufacturer also reported net earnings of $276 million for 3Q 2017, up from net earnings of $238 million in 3Q 2016.

"We are pleased with our revenue growth and free cash flow improvement but are not satisfied with our operating margins, which were impacted by raw material inflation, unfavorable price/mix and slow progress on our European integration," Marc Bitzer, CEO of Whirlpool Corporation, said in a statement issued by the company. "Thus, we are implementing strong actions to deliver our long-term goals, including recently-announced global cost-based price increases and a fixed cost reduction initiative."

The company reported that cost productivity and unit volume growth were “more than offset” by the unfavorable impacts of raw material inflation and product price/mix.

Whirlpool North America reported 3Q net sales of $3.0 billion, compared to $2.9 billion in the same prior-year period. Excluding the impact of currency, sales increased 4%.

Whirlpool Europe, Middle East and Africa reported 3Q net sales of $1.3 billion, compared to $1.3 billion in the same prior-year period. Excluding the impact of currency, sales decreased 8%.

Whirlpool’s brands include Amana, Maytag, Jenn-Air and KitchenAid, among others.