Whirlpool cost-cutting initiatives help boost earnings

Jan 31, 2013 | 01:30 PM | Corinna Petry

Tags  Whirlpool, earnings report, appliances, Jeff Fettig, cost-cutting initiatives, corinna petry

CHICAGO — Appliance manufacturer Whirlpool Corp. posted global net income of $401 million in 2012, up 2.8 percent from $390 million the previous year despite a 2.8-percent decline in sales to $18.14 billion.

Its North American business generated operating earnings of $846 million in 2012, a more-than-twofold increase thanks to cost- and capacity-cutting initiatives last year. North American sales saw a slight uptick to $9.63 billion even though shipments fell 5 percent to 24.3 million appliances.....

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