Whirlpool Corporation's 2006 Annual Report summarizes the company's financial performance for the year. Key highlights include:
- Net sales increased 26.3% to $18.08 billion from $14.31 billion in 2005.
- Earnings from continuing operations increased 15.2% to $486 million from $422 million in 2005.
- Total assets increased 67.2% to $13.87 billion from $8.30 billion in 2005, due to the acquisition of Maytag.
Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of approximately $18 billion and operations in markets around the world.
Ecolab is a leading global provider of cleaning, sanitizing, maintenance and repair products and services. It serves customers in over 160 countries across various industries such as hospitality, foodservice, healthcare, retail and industrial markets. In 2004, Ecolab reported net sales of $4.2 billion, an 11% increase over 2003. It continues to invest in innovative products and services to help customers improve their operations and protect their reputations.
Ecolab is the leading global provider of cleaning, sanitizing, pest elimination, and maintenance products and services. It serves customers in over 160 countries across various industries including hospitality, foodservice, healthcare, retail, and industrial markets. Ecolab employs over 21,000 people worldwide and had net sales of $4.2 billion in 2004, an 11% increase from 2003. Ecolab common stock is traded on the New York Stock Exchange under the symbol ECL.
The document provides an overview of Loews Corporation's 2008 investor meeting. It summarizes CNA Financial Corporation's solid financial performance including improved operating earnings, a strong balance sheet, and steady core securities income. It also discusses CNA's property and casualty operations which drive the company's results, and how its controlled, orderly run-off operations mitigate earnings risks. Additionally, it outlines CNA's highly diversified insurance portfolio, market leadership in specialty businesses, and disciplined underwriting approach.
Whirlpool Corporation reported record financial results in 2005 despite unprecedented increases in material and oil costs. Net sales increased 8.3% to $14.3 billion and net earnings grew 3.9% to $422 million. Whirlpool successfully managed over $500 million in higher costs through accelerating new product innovation, increasing productivity, and maintaining cost controls. The company delivered a record number of new product innovations in 2005 to drive growth. Whirlpool's strategy focuses on building brand and customer loyalty through innovation, strong customer focus, and leadership in customer service and trade management.
The Sherwin-Williams Company reported record financial results for 2007. Net sales increased 2.5% to $8 billion, a new record. Net income grew 6.9% to $615.6 million. Earnings per share increased 12% to $4.70. Cash from operations was $874.5 million, an increase of nearly $60 million over 2006. The company completed seven acquisitions to expand its product offerings and store presence globally.
This document summarizes Southwest Airlines' performance in 2001, a difficult year marked by the events of September 11th. It notes that Southwest was well-positioned financially to withstand the crisis due to its conservative approach of managing well in good times. It describes how Southwest maintained 100% employment while other major carriers furloughed staff, and still reported an annual profit despite revenue declines. The summary highlights that Southwest expanded service in 2001 and increased its market share, showing resilience in the face of adversity through the dedication of its employees.
The 2008 Annual Report summarizes Sherwin-Williams' financial performance in 2008. Net sales were $7.98 billion, a slight decrease from 2007. Net income declined 22.5% to $476.9 million due to asset impairment charges and rising input costs. Cash from operations increased to $876.2 million. The company continued investing in new stores, acquisitions, capital expenditures, dividends, and share repurchases. Challenging market conditions reduced sales and profits for the Paint Stores and Consumer groups. The Global Finishes Group grew sales but saw lower profits due to input costs. The company launched new products, expanded internationally, and initiated an EcoVision program.
This document is Ecolab's 2003 Annual Report. It provides details about Ecolab's business including its description, markets served, products/services provided, financial highlights for 2003, and stock performance. It summarizes that Ecolab had record sales of $3.8 billion in 2003, up 11% from 2002. Net income increased 32% to $277 million and diluted earnings per share grew 33% to $1.06. The CEO highlights strong financial results and growth despite economic uncertainties.
Ecolab is a leading global provider of cleaning, sanitizing, maintenance and repair products and services. It serves customers in over 160 countries across various industries such as hospitality, foodservice, healthcare, retail and industrial markets. In 2004, Ecolab reported net sales of $4.2 billion, an 11% increase over 2003. It continues to invest in innovative products and services to help customers improve their operations and protect their reputations.
Ecolab is the leading global provider of cleaning, sanitizing, pest elimination, and maintenance products and services. It serves customers in over 160 countries across various industries including hospitality, foodservice, healthcare, retail, and industrial markets. Ecolab employs over 21,000 people worldwide and had net sales of $4.2 billion in 2004, an 11% increase from 2003. Ecolab common stock is traded on the New York Stock Exchange under the symbol ECL.
The document provides an overview of Loews Corporation's 2008 investor meeting. It summarizes CNA Financial Corporation's solid financial performance including improved operating earnings, a strong balance sheet, and steady core securities income. It also discusses CNA's property and casualty operations which drive the company's results, and how its controlled, orderly run-off operations mitigate earnings risks. Additionally, it outlines CNA's highly diversified insurance portfolio, market leadership in specialty businesses, and disciplined underwriting approach.
Whirlpool Corporation reported record financial results in 2005 despite unprecedented increases in material and oil costs. Net sales increased 8.3% to $14.3 billion and net earnings grew 3.9% to $422 million. Whirlpool successfully managed over $500 million in higher costs through accelerating new product innovation, increasing productivity, and maintaining cost controls. The company delivered a record number of new product innovations in 2005 to drive growth. Whirlpool's strategy focuses on building brand and customer loyalty through innovation, strong customer focus, and leadership in customer service and trade management.
The Sherwin-Williams Company reported record financial results for 2007. Net sales increased 2.5% to $8 billion, a new record. Net income grew 6.9% to $615.6 million. Earnings per share increased 12% to $4.70. Cash from operations was $874.5 million, an increase of nearly $60 million over 2006. The company completed seven acquisitions to expand its product offerings and store presence globally.
This document summarizes Southwest Airlines' performance in 2001, a difficult year marked by the events of September 11th. It notes that Southwest was well-positioned financially to withstand the crisis due to its conservative approach of managing well in good times. It describes how Southwest maintained 100% employment while other major carriers furloughed staff, and still reported an annual profit despite revenue declines. The summary highlights that Southwest expanded service in 2001 and increased its market share, showing resilience in the face of adversity through the dedication of its employees.
The 2008 Annual Report summarizes Sherwin-Williams' financial performance in 2008. Net sales were $7.98 billion, a slight decrease from 2007. Net income declined 22.5% to $476.9 million due to asset impairment charges and rising input costs. Cash from operations increased to $876.2 million. The company continued investing in new stores, acquisitions, capital expenditures, dividends, and share repurchases. Challenging market conditions reduced sales and profits for the Paint Stores and Consumer groups. The Global Finishes Group grew sales but saw lower profits due to input costs. The company launched new products, expanded internationally, and initiated an EcoVision program.
This document is Ecolab's 2003 Annual Report. It provides details about Ecolab's business including its description, markets served, products/services provided, financial highlights for 2003, and stock performance. It summarizes that Ecolab had record sales of $3.8 billion in 2003, up 11% from 2002. Net income increased 32% to $277 million and diluted earnings per share grew 33% to $1.06. The CEO highlights strong financial results and growth despite economic uncertainties.
The 2000 Annual Report summarizes Henry Schein's financial performance and operations. It states that Henry Schein is the largest distributor of healthcare products and services in North America and Europe, serving over 650,000 practitioners. The report highlights that net sales increased to $2.38 billion in 2000, operating income grew to $127.6 million, and earnings per share rose to $1.67. It also details Henry Schein's distribution network and capabilities.
The document discusses content delivery network (CDN) technology trends. It provides an overview of the CDN market size and share from 2010 to 2014. It also describes basic CDN functionality, including how content is cached at edge servers close to users to improve performance. New entrants are aggregating unused infrastructure while some smaller CDNs use Amazon CloudFront.
Ecolab is a global leader in cleaning, sanitizing, pest elimination, maintenance and repair products and services. It serves customers in over 160 countries across various industries including hospitality, foodservice, healthcare, industrial and commercial markets. Ecolab employs over 22,000 people worldwide and had $4.5 billion in net sales in 2005. It markets its products and services through the largest direct sales force in its industry.
Constellation Energy Group saw a difficult year in 2001 due to factors like the decline in power prices and collapse of Enron. The company cancelled plans to separate, terminated its relationship with Goldman Sachs, brought on a new CEO, cut costs, streamlined operations, and intensified risk management. While 2001 was tough, the company emerged stronger and is well positioned for growth going forward due to its generation assets, marketing expertise, and strong balance sheet. Financial highlights show earnings per share declined significantly year-over-year due to special costs recognized in the fourth quarter as the company monetized non-core assets and improved its balance sheet.
This document is the 2008 Annual Report of The Clorox Company. It summarizes the company's financial highlights for fiscal year 2008, including net sales of $5.3 billion, net earnings of $899 million, and net cash provided by operations of $730 million. It discusses the company's focus on its Centennial Strategy, aimed at delivering double-digit annual growth in economic profit. Key accomplishments in fiscal 2008 included sales growth of 9%, cost savings of $93 million, and progress on strategic priorities around engagement, innovation, and growth. The report expresses confidence that Clorox is well-positioned in a challenging cost environment through its trusted brands, consumer insights, and operational focus.
Qualcomm continues to drive strong financial results as adoption of CDMA-based 3G technology grows globally. In 2005, Qualcomm saw increased revenue, earnings, and operating cash flow. The company invested in R&D and acquisitions to capitalize on opportunities in 3G and wireless applications for entertainment, productivity, and computing. Qualcomm aims to sustain its leadership in innovation and continue growing shareholder value.
The document is Lowe's annual report for 2003. It discusses Lowe's strong financial performance in 2003, with sales increasing 18.1% to $30.8 billion and net earnings growing 27.6% compared to 2002. Lowe's served over 520 million customers in 2003 and opened 130 new stores. The report expresses confidence that demographic and housing market trends will continue to drive growth in home improvement spending.
Ecolab's 2005 annual report provides the following information:
1) Ecolab is the leading global provider of cleaning and sanitizing products and services, serving customers in over 160 countries.
2) In 2005, Ecolab reported net sales of $4.5 billion, a 8% increase from 2004, and net income of $319 million, a 13% increase.
3) Ecolab aims to provide comprehensive solutions and service to customers in industries like hospitality, healthcare, food processing, and commercial laundries.
plains all american pipeline Annual Reports2007 finance13
- Plains All American Pipeline, L.P. (PAA) is a master limited partnership engaged in oil and gas transportation, storage, and marketing.
- In 2007, PAA achieved or exceeded its goals by delivering record financial results, successfully integrating its acquisition of Pacific Energy Partners, completing its largest capital program and acquisitions to date, and increasing distributions paid to unitholders by 14.4%.
- Looking ahead, PAA's goals for 2008 are to deliver strong operating and financial performance, successfully execute its capital program and pursue strategic acquisitions, and increase distributions year-over-year by $0.20 to $0.25 per unit.
Costco's fiscal year ends in August. This document provides detailed sales and location data for Costco from fiscal years 2004 to 2008. It includes information on merchandise sales, membership fees, operating expenses, margins, comparable sales, new and closed locations by country. International growth exceeded Costco's 5% annual expansion rate in the US, with locations growing 7% annually in the UK, Mexico, and Taiwan, and 19% annually in Japan. Sales per item averaged nearly $14 million annually in 2008.
1) The document provides financial highlights from Google's Q3 2006 earnings call, including 70% year-over-year revenue growth and plans to acquire YouTube for $1.65 billion in stock.
2) Revenue growth was driven by increased monetization and traffic, with strong growth across advertisers. Operating income and net income reached record levels.
3) Google continued focusing on innovation and user experience while also forming new partnerships with companies like Fox, eBay, and Intuit.
Southwest Airlines' annual report for 1999 highlights the company's continued growth and profitability. In 1999, Southwest carried over 57.5 million customers to 56 airports across the United States. While earnings increased 9.4% over 1998, fuel costs rose significantly in the second half of the year. Looking ahead, Southwest plans to increase capacity over 12% and open at least one new city in 2000 to offset potential impacts from high fuel prices. The report emphasizes Southwest's ongoing success in providing affordable air travel to more Americans.
This Attribution Case Study was documented in 2012 by Encore Media Metrics.
Special thanks for Lipman Advertising for participating in this case study.
For a copy please email info (at) encoremetrics.com or tweet to http://Twitter.com/EncoreMetrics
- The Capital One Financial Corporation annual stockholder meeting will be held on April 24, 2008 at their headquarters in McLean, Virginia.
- Stockholders will vote on electing three directors, ratifying Ernst & Young as the independent auditor for 2008, approving an amended associate stock purchase plan, and any other business matters.
- Stockholders as of February 25, 2008 are eligible to vote, either in person at the meeting or beforehand via internet, phone, or mail. Proper identification is required to attend in person.
capital one Keefe, Bruyette & Woods, Inc. Diversified Financial Services Conf...finance13
Capital One is a top 10 bank and 5th largest credit card issuer. It has seen weakening credit metrics that reflect the deteriorating US economy. The company increased its loan loss allowance by $310M in Q108 to prepare for expected losses. While credit costs rose, increased revenue margins largely offset the impact. Capital One continues efficiency initiatives and managing its balance sheet to sustain profitability despite credit headwinds.
The 2006 Whirlpool Corporation Annual Report summarizes the company's strategy of executing around the world through innovative products, processes, and customer relationships. It highlights the Duet and Cabrio washing machines which use half the water and energy of conventional washers and have received design awards. The report also outlines Whirlpool's global brand, supply chain operations, innovation pipeline worth $3.5 billion, and corporate citizenship efforts including supporting Habitat for Humanity.
Group 1 Automotive is a leading automotive retailer that has experienced significant growth since its IPO in 1997. In 2002, Group 1 achieved record financial results for the fifth consecutive year, with revenues increasing 5.5% to $4.2 billion and net income growing 21% to $67.1 million. The company attributes its success to its diverse business model across brands, geographies, and revenue streams. Group 1 aims to continue its acquisition strategy in 2003 to further augment its portfolio and leverage its operating platform.
ArvinMeritor had a challenging fiscal year 2001 due to economic downturn and declining automotive sales. However, the company has taken steps to strengthen its position such as aggressively cutting costs, improving quality, and focusing on core competencies. While sales and profits decreased from the prior year, the company generated strong operating cash flow through emphasis on working capital reductions and debt paydown. Looking forward, ArvinMeritor is well positioned in key markets and believes systems integration will be an area of growth opportunity.
The 2000 Annual Report summarizes Henry Schein's financial performance and operations. It states that Henry Schein is the largest distributor of healthcare products and services in North America and Europe, serving over 650,000 practitioners. The report highlights that net sales increased to $2.38 billion in 2000, operating income grew to $127.6 million, and earnings per share rose to $1.67. It also details Henry Schein's distribution network and capabilities.
The document discusses content delivery network (CDN) technology trends. It provides an overview of the CDN market size and share from 2010 to 2014. It also describes basic CDN functionality, including how content is cached at edge servers close to users to improve performance. New entrants are aggregating unused infrastructure while some smaller CDNs use Amazon CloudFront.
Ecolab is a global leader in cleaning, sanitizing, pest elimination, maintenance and repair products and services. It serves customers in over 160 countries across various industries including hospitality, foodservice, healthcare, industrial and commercial markets. Ecolab employs over 22,000 people worldwide and had $4.5 billion in net sales in 2005. It markets its products and services through the largest direct sales force in its industry.
Constellation Energy Group saw a difficult year in 2001 due to factors like the decline in power prices and collapse of Enron. The company cancelled plans to separate, terminated its relationship with Goldman Sachs, brought on a new CEO, cut costs, streamlined operations, and intensified risk management. While 2001 was tough, the company emerged stronger and is well positioned for growth going forward due to its generation assets, marketing expertise, and strong balance sheet. Financial highlights show earnings per share declined significantly year-over-year due to special costs recognized in the fourth quarter as the company monetized non-core assets and improved its balance sheet.
This document is the 2008 Annual Report of The Clorox Company. It summarizes the company's financial highlights for fiscal year 2008, including net sales of $5.3 billion, net earnings of $899 million, and net cash provided by operations of $730 million. It discusses the company's focus on its Centennial Strategy, aimed at delivering double-digit annual growth in economic profit. Key accomplishments in fiscal 2008 included sales growth of 9%, cost savings of $93 million, and progress on strategic priorities around engagement, innovation, and growth. The report expresses confidence that Clorox is well-positioned in a challenging cost environment through its trusted brands, consumer insights, and operational focus.
Qualcomm continues to drive strong financial results as adoption of CDMA-based 3G technology grows globally. In 2005, Qualcomm saw increased revenue, earnings, and operating cash flow. The company invested in R&D and acquisitions to capitalize on opportunities in 3G and wireless applications for entertainment, productivity, and computing. Qualcomm aims to sustain its leadership in innovation and continue growing shareholder value.
The document is Lowe's annual report for 2003. It discusses Lowe's strong financial performance in 2003, with sales increasing 18.1% to $30.8 billion and net earnings growing 27.6% compared to 2002. Lowe's served over 520 million customers in 2003 and opened 130 new stores. The report expresses confidence that demographic and housing market trends will continue to drive growth in home improvement spending.
Ecolab's 2005 annual report provides the following information:
1) Ecolab is the leading global provider of cleaning and sanitizing products and services, serving customers in over 160 countries.
2) In 2005, Ecolab reported net sales of $4.5 billion, a 8% increase from 2004, and net income of $319 million, a 13% increase.
3) Ecolab aims to provide comprehensive solutions and service to customers in industries like hospitality, healthcare, food processing, and commercial laundries.
plains all american pipeline Annual Reports2007 finance13
- Plains All American Pipeline, L.P. (PAA) is a master limited partnership engaged in oil and gas transportation, storage, and marketing.
- In 2007, PAA achieved or exceeded its goals by delivering record financial results, successfully integrating its acquisition of Pacific Energy Partners, completing its largest capital program and acquisitions to date, and increasing distributions paid to unitholders by 14.4%.
- Looking ahead, PAA's goals for 2008 are to deliver strong operating and financial performance, successfully execute its capital program and pursue strategic acquisitions, and increase distributions year-over-year by $0.20 to $0.25 per unit.
Costco's fiscal year ends in August. This document provides detailed sales and location data for Costco from fiscal years 2004 to 2008. It includes information on merchandise sales, membership fees, operating expenses, margins, comparable sales, new and closed locations by country. International growth exceeded Costco's 5% annual expansion rate in the US, with locations growing 7% annually in the UK, Mexico, and Taiwan, and 19% annually in Japan. Sales per item averaged nearly $14 million annually in 2008.
1) The document provides financial highlights from Google's Q3 2006 earnings call, including 70% year-over-year revenue growth and plans to acquire YouTube for $1.65 billion in stock.
2) Revenue growth was driven by increased monetization and traffic, with strong growth across advertisers. Operating income and net income reached record levels.
3) Google continued focusing on innovation and user experience while also forming new partnerships with companies like Fox, eBay, and Intuit.
Southwest Airlines' annual report for 1999 highlights the company's continued growth and profitability. In 1999, Southwest carried over 57.5 million customers to 56 airports across the United States. While earnings increased 9.4% over 1998, fuel costs rose significantly in the second half of the year. Looking ahead, Southwest plans to increase capacity over 12% and open at least one new city in 2000 to offset potential impacts from high fuel prices. The report emphasizes Southwest's ongoing success in providing affordable air travel to more Americans.
This Attribution Case Study was documented in 2012 by Encore Media Metrics.
Special thanks for Lipman Advertising for participating in this case study.
For a copy please email info (at) encoremetrics.com or tweet to http://Twitter.com/EncoreMetrics
- The Capital One Financial Corporation annual stockholder meeting will be held on April 24, 2008 at their headquarters in McLean, Virginia.
- Stockholders will vote on electing three directors, ratifying Ernst & Young as the independent auditor for 2008, approving an amended associate stock purchase plan, and any other business matters.
- Stockholders as of February 25, 2008 are eligible to vote, either in person at the meeting or beforehand via internet, phone, or mail. Proper identification is required to attend in person.
capital one Keefe, Bruyette & Woods, Inc. Diversified Financial Services Conf...finance13
Capital One is a top 10 bank and 5th largest credit card issuer. It has seen weakening credit metrics that reflect the deteriorating US economy. The company increased its loan loss allowance by $310M in Q108 to prepare for expected losses. While credit costs rose, increased revenue margins largely offset the impact. Capital One continues efficiency initiatives and managing its balance sheet to sustain profitability despite credit headwinds.
The 2006 Whirlpool Corporation Annual Report summarizes the company's strategy of executing around the world through innovative products, processes, and customer relationships. It highlights the Duet and Cabrio washing machines which use half the water and energy of conventional washers and have received design awards. The report also outlines Whirlpool's global brand, supply chain operations, innovation pipeline worth $3.5 billion, and corporate citizenship efforts including supporting Habitat for Humanity.
Group 1 Automotive is a leading automotive retailer that has experienced significant growth since its IPO in 1997. In 2002, Group 1 achieved record financial results for the fifth consecutive year, with revenues increasing 5.5% to $4.2 billion and net income growing 21% to $67.1 million. The company attributes its success to its diverse business model across brands, geographies, and revenue streams. Group 1 aims to continue its acquisition strategy in 2003 to further augment its portfolio and leverage its operating platform.
ArvinMeritor had a challenging fiscal year 2001 due to economic downturn and declining automotive sales. However, the company has taken steps to strengthen its position such as aggressively cutting costs, improving quality, and focusing on core competencies. While sales and profits decreased from the prior year, the company generated strong operating cash flow through emphasis on working capital reductions and debt paydown. Looking forward, ArvinMeritor is well positioned in key markets and believes systems integration will be an area of growth opportunity.
1) The document is a letter to shareholders from ArvinMeritor discussing the company's 2001 performance and outlook.
2) In 2001, ArvinMeritor completed its first full year as a merged company but faced economic challenges including declining auto sales. The company reported lower sales and income compared to 2000.
3) To strengthen its position, ArvinMeritor plans to focus on core competencies, improve returns, conserve cash through partnerships, and implement cost cutting measures including job reductions and capital spending cuts. The company aims to emerge stronger from the economic downturn.
Swifton CFOs - McCarter English - Fin Proj 100511David Fogel
AB C Company saw rapid revenue growth from 2010 to 2013, with total revenue increasing from $584,000 in 2010 to over $91 million in 2013. While gross margins improved over this period from 20.5% to 47.3%, the company consistently operated at a net loss due to high operating expenses, which outpaced revenue growth. Total operating expenses were over $44 million in 2013, contributing to a net loss of $2.5 million despite significant revenue growth. Headcount and capital expenditures also increased substantially over this period to support the company's expanding operations and markets.
Swifton CFOs LLC - Boston BizSpark presentation - Financial Projections for I...David Fogel
AB C Company saw rapid revenue growth from 2010 to 2013 as installation revenue increased substantially each year, but the company consistently lost money over this period due to high operating expenses that grew faster than revenue. While gross margins improved as revenue increased, operating expenses as a percentage of revenue were high across sales, marketing, research and development, and general and administration. As a result, the company reported increasing net losses each year from 2010 to 2013.
- The document discusses Google's Q3 2006 earnings conference call, reporting 70% year-over-year revenue growth and 10% quarter-over-quarter growth driven by increased monetization and traffic.
- Operating income and net income reached record levels, and the company continued investing in products and infrastructure while forming new partnerships.
- Google agreed to acquire YouTube for $1.65 billion in stock, hoping to enable anyone to upload, watch and share videos worldwide.
- Google reported strong Q3 2006 financial results, with 70% year-over-year revenue growth and 10% quarter-over-quarter growth driven by increased monetization and traffic gains.
- Revenue was $2.69 billion for Q3 2006, with international revenue accounting for 56% of the total.
- Costs of revenue were 39% of total revenue, with research and development accounting for 11.6% and sales and marketing at 7.7% of revenue.
- The acquisition of YouTube for $1.65 billion in stock was announced and expected to close in October.
1) Google reported 70% year-over-year revenue growth and 10% quarter-over-quarter revenue growth for Q3 2006. Revenue growth was driven primarily by increased monetization and traffic gains.
2) Operating income and net income reached record levels for the company. Google also continued its focus on innovation and partnerships.
3) Google agreed to acquire YouTube for $1.65 billion in stock, with the goal of enabling anyone to upload, watch and share videos worldwide. The acquisition was expected to close in Q4 2006.
Ecolab is a leading global developer and marketer of cleaning, sanitizing, pest elimination, maintenance and repair products and services. It serves the hospitality, foodservice, institutional and industrial markets. In 2003, Ecolab reported net sales of $3.76 billion, net income of $277 million, and diluted net income per share of $1.06. Ecolab is headquartered in St. Paul, Minnesota and employs over 20,000 associates worldwide serving customers in hotels, restaurants, healthcare facilities, grocery stores, and other industries.
- Yahoo reported Q2'08 financial highlights, with revenue ex-TAC of $1.346 billion, an 8% increase year-over-year but flat quarter-over-quarter.
- Operating cash flow was $427 million in Q2'08, a 10% decrease year-over-year due to costs related to strategic initiatives and a 1% decrease quarter-over-quarter.
- For full-year 2008, Yahoo expects revenue of $7.35-7.85 billion, operating cash flow of $1.825-1.975 billion, and free cash flow of $900 million to $1.05 billion.
Yahoo reported its financial results for Q2 2007, with the following highlights:
1) Total revenue ex-TAC (excluding traffic acquisition costs) increased 11% year-over-year to $1.244 billion.
2) Revenue ex-TAC from owned and operated sites increased 18% year-over-year to $877 million, while revenue ex-TAC from affiliate sites declined 17% to $155 million.
3) Operating cash flow increased 4% year-over-year to $474 million, representing 38% of total revenue ex-TAC.
- Yahoo reported Q2'08 financial highlights including revenue ex-TAC of $1.346 billion, up 8% year-over-year but flat quarter-over-quarter.
- Operating cash flow was $427 million in Q2'08, down 10% year-over-year and 1% quarter-over-quarter.
- For full-year 2008, Yahoo estimates revenue of $7.35-7.85 billion, operating cash flow of $1.825-1.975 billion, and free cash flow of $900 million to $1.05 billion.
1. Group 1 Automotive had another record year in 2000, with revenues growing 43% to over $3.5 billion and net income increasing 21% to $40.8 million. Their business model of decentralized dealership operations and consolidated corporate functions has driven strong financial performance.
2. Their acquisition strategy focuses on building regional platform operations through large, multi-franchise dealerships, and supplementing these with smaller "tuck-in" acquisitions. Acquisitions create synergies through cost reductions from consolidated functions and revenue enhancements from products like finance and insurance.
3. While new vehicle sales are expected to slow in 2001, Group
Brunswick Corporation saw significant increases in net sales, operating earnings, net earnings, and diluted earnings per share from 2004 to 2005. Net sales grew 13% to $5.9 billion while operating earnings rose 19% and net earnings increased 43%. Diluted earnings per share grew 41% over this period. Brunswick operates several business segments, with the Boat and Marine Engine segments experiencing the strongest growth in net sales and operating earnings. Overall, Brunswick saw improving financial results across its business segments from 2004 to 2005.
The report provides information on recent property sales in the suburb of Dalkeith, Western Australia. It finds that the median house price in Dalkeith is currently $2,405,000, with a 1-year return of -14% and 3-year return of -14%. Recent property sales in Dalkeith have ranged from $1,460,000 to $6,000,000.
Dover's annual report outlines its consistent business philosophy of achieving and maintaining market leadership in every market it serves. The report discusses Dover's goals of perceiving customers' needs, providing better products/services than competitors, investing to maintain competitive advantages, and expecting a fair price. It emphasizes focusing on quality, innovation, service, and long-term orientation. Dover enhances leadership through acquisitions that strengthen existing markets or offer new ones. Intrinsic to Dover's success is decentralized management that gives autonomy to company presidents.
This document is the financial summary from The Limited, Inc.'s annual report. It provides key financial data for 1998, 1997, and 1996 including: net sales, operating income, net income, assets, return on assets, and store/employee counts. Net sales in 1998 were $9.347 billion, up slightly from 1997. Operating income was significantly higher in 1998 at $2.437 billion compared to $480 million in 1997, driven largely by a $1.651 billion tax-free gain from splitting off Abercrombie & Fitch. Net income also increased substantially in 1998 to $2.054 billion from $217 million in 1997. The Limited saw continued growth in its Victoria's Secret and Bath & Body
The Sherwin-Williams Company reported strong financial results for 2005, with net sales increasing over $1 billion to $7.19 billion. Net income grew 17.8% to $463.3 million and diluted earnings per share increased over 20% to a record $3.28. All of the Company's business segments experienced sales growth. Sherwin-Williams continued investing in its business through capital expenditures, acquisitions, dividend increases, and share repurchases. Looking ahead to 2006, the Company is optimistic due to strong demand for its paint and coatings products and more stable raw material costs.
The Sherwin-Williams Company reported strong financial results for 2005, with net sales increasing over $1 billion to $7.19 billion. Net income grew 17.8% to $463.3 million and diluted earnings per share increased over 20% to a record $3.28. All of the Company's business segments experienced sales growth. Sherwin-Williams continued its strategy of returning cash to shareholders through stock repurchases and dividend increases, extending its streak of annual dividend growth to 27 years. Looking ahead, the Company is optimistic about 2006 due to continued strong demand for its paint and coatings products.
Similar to whirlpool Financial Highlights / Chairman's Letter (20)
capital oneCapital One Financial Corp. Shareholders Meeting Presentationfinance13
The annual stockholder meeting document discusses Capital One's performance in 2007 and the challenges facing the banking industry. It notes that 2007 was the first year Capital One saw a decline in earnings per share. It also discusses the housing market correction and its prolonged negative impact. Additionally, it provides context on Capital One's deposit size, making it the 13th largest deposit-taking bank in the US.
capital oneLehman Brothers Eleventh Annual Lehman Financial Services Conferen...finance13
- Capital One is a top 10 bank and 14th largest depository institution in the US with $87.6B in deposits as of Q4 2007. It is also the 5th largest credit card issuer.
- Capital One is a diversified bank that is now primarily funded by deposits, with deposits comprising 47% of its managed liabilities as of Q4 2007, compared to other major banks that are more reliant on unsecured debt and securitizations.
- The presentation discusses Capital One's business overview, competitive positioning, and funding sources. Forward-looking statements are provided but subject to various risk factors that could cause actual results to differ materially.
capital oneSanford C. Bernstein & Co. Strategic Decisions Conference Presenta...finance13
This document discusses Capital One's approach to risk management and positioning for economic cycles. It notes that Capital One has transformed into a diversified bank with significant deposit funding. Capital One assumes recessions and degradation in underwriting and saves repricing for safety and soundness rather than assuming good times will continue. The document also discusses how different lending segments such as credit cards have performed relative to others such as auto loans during past economic downturns.
capital one Q2 2008 Capital One Financial Earnings Conference Call Presentationfinance13
Capital One reported second quarter 2008 results. Diluted EPS from continuing operations was $1.24, down from the prior quarter and year due to higher provision expense and lower revenue. Credit performance was largely in line with expectations, with managed charge-offs at 4.15% and delinquencies at 3.56%. Tighter underwriting led to portfolio contraction. The balance sheet remains strong with increased deposits and liquidity.
capital one Lehman Conference Presentationfinance13
Capital One provides a presentation on its financial performance and positioning. It discusses (1) executing on its vision of national lending and local banking, (2) delivering an operating profit of $463M despite significant credit headwinds, and (3) decisions that position it to navigate cyclical challenges and deliver value over the cycle through resilient businesses, conservative risk management, and lower lending lines.
capital one Q3 2008 Capital One Financial Earnings Conference Call Presentationfinance13
Capital One reported third quarter 2008 results with the following highlights:
1) Diluted EPS from continuing operations was $1.03, down from $1.21 in the third quarter of 2007 driven by higher provision expense.
2) Credit performance was largely in line with expectations, with managed charge-off and delinquency rates up from the previous quarter.
3) The balance sheet and diversified funding remained strong, with available liquidity of $32 billion and deposit growth of $6 billion from the previous quarter.
capital one Capital One Acquisition of Chevy Chase Bankfinance13
Capital One announced the acquisition of Chevy Chase Bank for $520 million. Chevy Chase has $11.6 billion in deposits and is the #1 bank in the Washington D.C. market. The acquisition enhances Capital One's local banking business and deposit funding. It is expected to be financially attractive with an estimated 13% internal rate of return and accretion to earnings per share in 2009 and 2010. Capital One took a $1.75 billion net credit mark on Chevy Chase's loans to mitigate credit risks.
capital one Printer Friendly Version of the Press Releasefinance13
Capital One reported a net loss for 2008 due to a large goodwill impairment in its Auto Finance business. It added $1 billion to loan loss reserves due to expectations of increasing losses. Credit performance deteriorated in the fourth quarter as the recession deepened. Deposits grew over 30% from the previous year and 10% in the last quarter.
capital one Printer Friendly Version of the Financial Supplementfinance13
This document provides quarterly and annual financial and statistical data for Capital One Financial Corporation for 2008 and Q4 2007. Some key highlights include:
- For Q4 2008, Capital One reported a net loss of $1.42 billion compared to net income of $226.6 million in Q4 2007. Revenue declined 38% annually and the company reported an ROA of -3.45%.
- On a managed basis, which includes securitized assets, Q4 2008 net loss was $1.42 billion, revenue declined 25% annually, and ROA was -2.70%.
- Asset quality deteriorated with the net charge-off rate rising to 4.98% in Q4 2008
capital onePrinter Friendly Version of the Conference Call Presentationfinance13
- Fourth quarter 2008 results showed a loss due to higher provision expense and a goodwill write-down. The losses were driven by deterioration in credit performance as economic conditions worsened.
- Credit losses and delinquency rates increased across all lending segments as unemployment rose. The allowance for loan losses was increased substantially.
- Deposits grew significantly while margins declined due to credit costs and mix shift to lower-yielding assets. Expenses declined due to cost management efforts.
- An impairment charge was taken for goodwill in the Auto Finance segment. The balance sheet and liquidity remain strong despite the difficult environment.
This document is Capital One's 1996 Annual Report. It summarizes that in 1996, Capital One achieved record financial results including net income increasing 23% to $155.3 million and managed loans increasing 23% to $12.8 billion. Capital One's success is driven by its proprietary information-based strategy which allows it to customize products, manage risk conservatively, and continuously innovate. The company added nearly 2,000 employees in 1996 and remains focused on testing new products.
Capital One had a remarkable year in 1997, setting records for financial and operating performance. They added 3.2 million new customers, ending the year with 11.7 million accounts. Capital One's success demonstrates the power of their information-based strategy and innovation. Going forward, they see opportunity for continued growth in the US and internationally by applying their strategy of mass customization.
Capital One Financial Corporation's 1998 Annual Report summarizes the company's strong financial performance in 1998. Capital One saw record growth across key metrics such as earnings per share, revenue, managed loans, and number of customer accounts. The company achieved net income of $275 million, a 45% increase over 1997. Capital One's success is powered by its Information-Based Strategy of using technology, data analysis, and scientific testing to customize financial products for each customer. This strategy has allowed the company to rapidly innovate and gain market share in the credit card industry.
Capital One Financial Corporation's 1999 Annual Report highlights the company's explosive growth over the past 5 years since its IPO, including doubling its customer base to 24 million and increasing revenues 512% between 1994 and 1999. The report discusses Capital One's continued focus on its information-based strategy of testing new ideas, customizing products for customers, and driving innovation to build one of the world's truly great companies with sustained financial performance and customer satisfaction. Key metrics show earnings per share and return on equity growth above 20% for the fifth consecutive year.
This annual report summarizes Capital One's growth and success in 2000. Some key points:
- Capital One has grown rapidly since its IPO in 1994, becoming one of the fastest growing and most profitable companies in the US.
- Through its proprietary information-based strategy (IBS), Capital One has created innovative credit card and loan products tailored to individual customers, reducing risk while delivering value.
- In 2000, Capital One added a record 10 million new customers, conducted over 45,000 tests of new ideas, and invested over $900 million in marketing.
- Capital One aims to continue its strong growth by expanding its product lines and customer base internationally, and by building its brand through advertising and
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
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2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
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OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
2. Whirlpool Corporation Financial Highlights
Earnings from Cash Flow Provided by Debt/Total Capital
Revenue
Continuing Operations Continuing Operating (percent)
($ in billions)
Activities
($ in millions)
($ in millions)
$884 $880 65.1%
$18.1 $794
$486 $785
$744
50.9%
$422
$414 $406
$14.3 45.7%
$13.2
40.4% 41.2%
$12.2
$262
02 03 04 05 06 02 03 04 05 06 02 03 04 05 06 02 03 04 05 06
2006 2005 % Change
($ in millions, except per share data)
Net sales $ 18,080 $ 14,317 26.3%
Earnings from continuing operations $ 486 $ 422 15.2%
Per share on a diluted basis $ 6.35 $ 6.19 2.6%
Stockholders’ equity $ 3,283 $ 1,745 88.1%
Total assets $ 13,878 $ 8,301 67.2%
Return on equity* 15.7% 24.6% (36.2%)
Book value per share $ 42.93 $ 25.54 68.1%
Dividends per share $ 1.72 $ 1.72 —
Share price
High $ 96.00 $ 86.52 11.0%
Low $ 74.07 $ 60.78 21.9%
Close $ 83.02 $ 83.76 (0.9% )
Shares outstanding at December 31 (in 000’s) 78,484 67,880 15.6%
Number of employees 73,416 65,682 11.8%
*Refer to Eleven-Year Consolidated Statistical Review (pages 38-39) for more information about return on equity calculations.
Table of Contents
Brand Gallery (foldout cover)
Financial Highlights (inside front cover)
2 Chairman’s Letter
6 Maytag Acquisition
8 Whirlpool: Products and Customers Worldwide
17 Key Accomplishments
18 Worldwide Operations
23 Financial Summary
31 Consolidated Condensed Financial Statements
35 Reports of Management and Independent Registered Public Accounting Firm
38 Eleven-Year Consolidated Statistical Review
40 Innovation Pipeline
Shareholders’ and Other Information (inside back cover)
3. Brand Gallery Every Home...Everywhere
Whirlpool Corporation is the world’s leading manufacturer and marketer of major home appliances,
with annual sales of approximately $18 billion, more than 73,000 employees and 73 manufacturing
and technology research centers around the world. We currently sell Whirlpool, KitchenAid and
Maytag products in markets in every region of the world.
Latin America Region
North America Region Europe Region
Asia Region
Operations Center:
Headquarters:
Headquarters: Headquarters:
Comerio, Italy
Shanghai, China
Benton Harbor, Michigan, United States São Paulo, Brazil
2006 Sales:
2006 Sales:
2006 Sales: 2006 Sales:
$3.4 billion
$457 million
$12.0 billion $2.4 billion
Principal Products:
Principal Products:
Principal Products: Principal Products:
Automatic Dryers, Automatic Washers, Built-In Hobs, Built-In Ovens, Countertop
Air Conditioners, Automatic Washers,
Air Purifiers, Automatic Dryers, Automatic Washers, Bakeware, Built-In Ovens, Central Automatic Dryers, Automatic Washers, Compressors and
Appliances, Dishwashers, Fabric Fresheners, Freezers, Microwave Ovens, Ranges,
Microwave Ovens, Refrigerators
Air Conditioning Units, Cooking Gadgets, Cooktops, Cookware, Countertop Appliances, Cooling Solutions, Countertop Appliances, Dishwashers,
Refrigerators
Dehumidifiers, Dishwashers, Fabric Fresheners, Freezers, Garage Storage Organization, Hot Fabric Fresheners, Freezers, Microwave Ovens, Ranges,
Water Heaters, Ice Makers, Laundry Room Organizers, Microwave Ovens, Portable Appliances, Refrigerators, Room Air Conditioners
Manufacturing Locations:
Ranges, Refrigerators, Room Air Conditioners, Trash Compactors, Water Dispensers
France: Amiens Manufacturing Locations:
Germany: Neunkirchen, Schorndorf
Manufacturing Locations: Home Appliances: Joinville, Manaus and Rio Claro,
Italy: Naples, Siena, Cassinetta, Trento
China: Shanghai, Shunde
Manufacturing Locations: Brazil; Buenos Aires, Argentina; Lima, Peru; Santiago,
Poland: Wroclaw
India: Faridabad, Pondicherry, Pune
United States: Amana, Iowa; Benton Harbor, Michigan; Cleveland, Tennessee; Clyde, Ohio; Chile
South Africa: Isithebe
Evansville, Indiana; Findlay, Ohio; Fort Smith, Arkansas; Greenville, Ohio; Jackson, Tennessee; Compressors and Cooling Solutions: Joinville, Brazil;
Sweden: Norrköping
LaVergne, Tennessee; Marion, Ohio; Newton, Iowa; Oxford, Mississippi; Tulsa, Oklahoma Riva de Chieri, Italy; Spisská Nová Ves, Slovakia; Beijing,
Mexico: Celaya, Monterrey (2), Puebla, Ramos Arizpe, Reynosa China; Nuevo Leon, Mexico; Suwanee, Georgia,
Technology Centers: United States
Germany: Neunkirchen, Schorndorf
Technology Centers:
Italy: Cassinetta
China: Shanghai, Shunde
Technology Centers: Technology Centers:
Poland: Wroclaw
India: Pondicherry, Pune
United States: Amana and Newton, Iowa; Benton Harbor and St. Joseph (2), Michigan; Home Appliances: Joinville and Rio Claro, Brazil
Slovakia: Poprad
Evansville, Indiana; Cleveland, Jackson and LaVergne, Tennessee Compressors and Cooling Solutions: Joinville, Brazil;
Sweden: Norrköping
Mexico: Celaya, Monterrey Riva de Chieri, Italy; Spisská Nová Ves, Slovakia; Beijing,
China
Major Brands:
Major Brands:
Major Brands: Major Brands:
4. Whirlpool Corporation 2006 Annual Report
Every Home…Everywhere with Pride, Passion and Performance.
Whirlpool Corporation’s business strategy enables our employees
to create the world’s best home appliances, making life a little
easier and more enjoyable for people around the world.
Whirlpool Corporation’s unique business strategy and global capabilities provide
us with an unmatched leadership position and ability to build and sustain loyalty
to our brands.
This strategy is based on:
…understanding and fulfilling consumer needs with highly innovative products
and services under our global portfolio of preferred brands
…efficiently delivering products and providing brand support to thousands
of trade customers worldwide
…continually improving our manufacturing capabilities, productivity and quality
Our strategy allows us to move with greater speed to better serve our trade
customers and end consumers around the globe. The addition of Maytag
enhances our strategy and provides us with more growth opportunities.
Innovation fuels our strategy, further enabling Whirlpool to attract and retain
loyal consumers to our brands. Our people’s creativity and passion for innovation,
combined with their resourcefulness, allows us to continually enrich the value
of Whirlpool Corporation’s branded products.
Our strategy has, and will continue to, create value for our shareholders
during the years ahead.
01
5. Chairman’s Letter
2006: A Historic Year Last year was a historic year for Whirlpool Corporation.
We achieved record profits and revenues. We completed the acquisition of
Maytag Corporation and made great progress on the integration into Whirlpool.
This acquisition strengthens our leadership position and expands our existing
strong brands, products and capabilities.
BRAND VALUE CREATION STRATEGY
In 2006, our business achievements were as follows:
• Record revenues of $18.1 billion, up 26 percent
Our business strategy is based on understanding and fulfilling
• Record $486 million earnings from continuing operations, consumer needs with innovative products and services under
up 15 percent our global portfolio of preferred brands. We efficiently deliver
products and provide brand support to thousands of trade
• Record earnings from continuing operations per diluted
customers worldwide, all while continually improving our
share at $6.35, up from $6.19 in 2005
manufacturing capabilities, productivity and quality.
• Cash flow of $880 million provided by continuing operating The major elements of our strategy are listed below:
activities, reducing post-acquisition debt from $3 billion to
$2.3 billion
Brand and Consumer Loyalty
Consumer Focus • Innovation
• Continued global growth of the Whirlpool brand, the number •
• Brand Focus • Growth
one selling appliance brand in the world
Best Consumer Position
• Acquisition of Maytag with the expectation of realizing more
than $400 million in efficiencies on an annual basis by 2008
Trade Management
High Service Levels • Share of Business
•
Our continued focus on product innovation and aggressive
• Coverage • Cost to Serve
actions to offset higher material costs drove our achievements
Best Trade Position
during the year. Notably, a record $1.6 billion of our worldwide
revenue came from innovative products and services, and our
Global Operating Platform
European and Latin American operations produced record
results during 2006. Total Cost Productivity • Availability
•
• Quality • Fixed Asset Turnover
We achieved this in a challenging market that included
Best Cost and Quality Position
a continued sharp increase in the cost of material and
oil-related items, as well as a downturn in consumer
Our global approach in managing our operating platform
demand in the U.S. market. During the past three years,
ensures that we are the best-cost and best-quality producer
we have absorbed more than $1 billion in material and
across all products and locations. In fact, in 2006 nearly half
oil-related cost increases. We have offset these costs,
of our manufacturing was conducted in low-cost countries.
appropriately invested in our business and delivered
We increased our distribution by expanding trade customer
record results to our shareholders.
relationships and entering two key emerging markets – Russia
and Turkey.
02
6. INNOVATION...FUELING OUR BUSINESS STRATEGY
We made great progress on executing our strategy and
strengthened our leadership position in the industry.
In 1999, we implemented our innovation process to ensure
The addition of Maytag further enhances our consumer
that we could continually deliver unique and compelling
position and provides us with future growth opportunities.
products and services for our brands. These innovations are
ACQUISITION OF MAYTAG fueling our growth, and helping us attract and retain loyal
consumers to our brands.
The Maytag acquisition gives us the opportunity to use our
existing capabilities to reinvigorate and grow the Maytag, Today, innovation at Whirlpool involves a disciplined process
Jenn-Air and Amana brands. Maytag had a well-established in which innovative ideas are developed into new and
portfolio of brands that complements our existing product differentiated consumer solutions that have a sustainable
offerings. competitive advantage and command above-average
margins. Because of this approach, which encourages all
Maytag primarily operated in North America, while Whirlpool employees to innovate, we were named one of the world’s
has been able to use global manufacturing and procurement 100 most innovative companies by Business Week magazine
to create operating efficiencies on a worldwide basis for and to the Ocean Tomo 300 Patent Index, the first equity
years. Now, our combined business allows us to realize index based on the value of corporate intellectual property.
better asset utilization, reduce working capital and streamline
manufacturing facilities. We also are utilizing our innovation In 2006, the expected future revenue of the ideas in our
pipeline to reinvigorate the Maytag brands, creating more innovation pipeline reached $3.5 billion. We plan to continue
compelling products that consumers want. In addition, we our momentum in 2007, launching even more innovative
integrated supply chains to more quickly and efficiently serve products across all of our brands with a special emphasis on
trade customers. the Maytag brand.
Overall, our strategy and combined capabilities provide
LOOKING FORWARD: 2007 OUTLOOK
us with the advantages we need to effectively manage the
challenges of the global marketplace today and in the future.
As we begin 2007, we will continue to accelerate the
execution of our strategy to create value and drive our
success. Our global operating platform will continue to help
us offset expected material cost increases. Globally, we expect
unit demand to grow approximately 2 percent and further
material cost increases.
Jeff M. Fettig
Chairman of the Board and
Chief Executive Officer
03
7. Chairman’s Letter
HELPING TO SHAPE A BETTER WORLD
Our people are a living example of Whirlpool values. We were
Whirlpool has a strong history of serving communities to shape
named one of the 100 best corporate citizens by Business
a better world. By providing time and resources, Whirlpool
Ethics magazine for the seventh consecutive year. In Mexico,
employees around the world help improve the lives of others.
we received the “National Award for Ethics & Values,” and in
In 2006, we strengthened our ongoing global support of Habitat Poland we were honored with the 2005 Benefactor of the
for Humanity International. We were a sponsor of the Jimmy Year award for our employees’ work with Habitat for
Carter Work Project in India, during which Whirlpool employees Humanity International. The U.S. Ambassador to the Czech
helped build 100 homes in a village near Mumbai. Republic also named Whirlpool a top corporate philanthropist
for our employees’ efforts to improve the lives of children in
We also started a program called Building Blocks, which that country.
recognizes an outstanding U.S. Habitat for Humanity affiliate.
The program unites local residents with Whirlpool employees
IN CLOSING
and volunteers to build 10 homes. We are looking forward to
building 10 more homes in Phoenix, Arizona, in 2007.
Whirlpool Corporation continues to be well-positioned for
future growth and success. I am pleased with our
accomplishments in 2006. Our brand value creation strategy
is working and the execution of that strategy continues to yield
great results and opportunities for our company. I know that
our employees’ commitment and dedication will continue to
enable Whirlpool to achieve success. As always, our focus
remains on creating value for our shareholders, trade
customers, consumers and employees. I look forward to
delivering on that commitment in 2007.
Jeff M. Fettig
Chairman of the Board and Chief Executive Officer
04
8. Message from the Presidents
MIKE TODMAN DAVE SWIFT
PRESIDENT, WHIRLPOOL INTERNATIONAL PRESIDENT, WHIRLPOOL NORTH AMERICA
Whirlpool has the world’s top consumer appliance brands, the most The North America home appliance marketplace continues to be
innovative products, unmatched global operations and world-class dynamic. Strengthening our leadership position in that market
distribution. These traits give us the leading global position in the requires us to improve the cost effectiveness of our manufacturing
home appliance industry. platform, ensure that our distribution network is best in class and
continue to use innovation to build our brands. In 2006, we did all
Our process of building loyalty to our brands starts with deep of that and more.
customer insights that guide the development of innovative
products and services. This process led the Whirlpool brand to Consolidation of our U.S. laundry manufacturing locations, together
be the number one selling home appliance brand in the world. In with the opening of two new manufacturing facilities in Mexico
Brazil, consumers request our Consul and Brastemp brands more helped us increase the cost-effectiveness of our operating platform.
than any other brands. In fact, of all the brands in Brazil, not just We began to restructure our distribution network to better and more
home appliance brands, Brastemp ranks fourth in recognition by quickly serve our trade customers, and we launched a record level
consumers. of innovative products. At the same time, we began to reinvigorate
the Maytag brands.
We earned a strong global presence from our unprecedented
ability to leverage our innovations and brands across the world. The acquisition and integration of Maytag complements our existing
For example, in 2007 we are launching KitchenAid brand major strategy by leveraging our assets, and expanding the reach of our
home appliances in Europe, our first entry into the super-premium brands with trade customers and consumers. Only because we
segment. were already successfully executing our growth strategy does the
acquisition enable us to realize additional efficiencies, savings and
Our global presence and knowledge also extends to our growth opportunities.
manufacturing and distribution capabilities. We quickly tailor
common products to meet local needs in every part of the world. Consumer insights and innovation capabilities have allowed us to
Our global supply chain allows us to deliver products efficiently to differentiate the Whirlpool and KitchenAid brands. We are confident
trade customers in more than 170 countries. We located our 47 those same capabilities can be applied to the additional Maytag
manufacturing plants and our 26 research centers where they can brands. The continued growth of our innovation pipeline will provide
most effectively support our global operations. For example, we sell new products and services to do so.
front-load washers and portable fabric fresheners in North America,
Europe and Latin America, and microwaves with steam and Operationally, the flexibility of our existing manufacturing operations
convection capabilities in all major regions of the world. allows us to realize savings and efficiencies. Additionally, trade
customers are supportive of our work to improve the Maytag brands
This global business approach enabled us to deliver record and deliver the products consumers desire.
international results in 2006. In Europe and Latin America, we
achieved record revenues and profits. In Asia, we drove significant We are excited about our opportunities to continue to grow and
improvement in our business, increasing revenues 8 percent and develop all of our brands. Our people’s execution of each aspect of
dramatically improving our profitability. our strategy – from marketing, sales, manufacturing, finance,
technology and service – continues to improve our ability to exceed
We have many opportunities ahead of us. Our committed and consumers’ expectations. In this way, we
energized people, the best and most innovative brands, and work toward our goal of a Whirlpool
our position in the fastest growing markets, appliance in “Every Home, Everywhere.”
give us the opportunity to serve customers
with Whirlpool appliances in
“Every Home, Everywhere.”
Mike Todman Dave Swift
President, Whirlpool International President, Whirlpool North America
05