Whirlpool Corporation (NYSE: WHR – News) executives today will discuss the company’s growth strategies and present its global lineup of innovative products and brands at meetings with financial analysts and media representatives in New York.
At two sessions, to be attended separately by dozens of analysts and reporters, the company’s executive management team will highlight the success of Whirlpool’s global-expansion strategy that was initiated in the late 1980s by David R. Whitwam, the company’s chairman and chief executive officer. It was this strategy that has made Whirlpool the world’s largest manufacturer and marketer of home appliances today.
Whitwam announced earlier this month that he will be retiring on June 30. Whitwam will be succeeded by Jeff Fettig, Whirlpool’s current president and chief operating officer. Fettig has been named chairman, president and chief executive officer, effective July 1.
During the analysts presentation, Whirlpool executives will reiterate the company’s full-year earnings guidance of $6.20 to $6.35 per share, and discuss the company’s free cash flow forecast, which will increase this year to about $400 million, or $100 million above its previous forecast. Whirlpool defines free cash flow as cash from operations and after proceeds from the sale of fixed assets, dividends and capital expenditures.
