Consumer Demand Creates Strong Quarter

Whirlpool Corporation had net sales of $5,798 million for the fourth quarter of fiscal 2020, an increase of 7.7 per cent over net sales of $5,382 million in the fourth quarter of its 2019 year. The increase was driven by strong consumer demand. Net earnings margin for the quarter was 8.6 per cent, up 320 basis points year-over-year. Ongoing earnings before taxes were $657 million, up 68.9 per cent over earnings of $389 million in the year-ago period. "We ended 2020 in a position of strength due to the early, decisive actions we took at the onset of the year to sustain operating margins and protect liquidity," says Jim Peters, chief financial officer of Whirlpool Corporation.