SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 26, 1999
WHIRLPOOL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-3932 38-1490038
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(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation) Number) Identification No.)
2000 M63 North, Benton Harbor, Michigan 49022-2692
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(Address of principal executive officers) (Zip Code)
(616)-923-5000
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Registrant's telephone number, including area code
5. Other Events
On January 26, 1999 the registrant reported fourth-quarter and full-year
earnings for 1998. The registrant's reported fourth-quarter earnings from
continuing operations were $83 million, or $1.09 per diluted share, up 30
percent from fourth quarter 1997 earnings of $64 million, or 85 cents per
diluted share, excluding restructuring and non-recurring charges. Net earnings
for the fourth quarter were $83 million, or $1.09 per diluted share versus
reported net earnings of $92 million, or $1.22 per diluted share for the 1997
quarter.
The registrant reported that full-year 1998 earnings from continuing
operations were $310 million, or $4.06 per diluted share, up 37 percent from
$226 million, or $2.99 per diluted share for the 1997 period, excluding
restructuring and non-recurring charges. Full-year 1998 net earnings were $325
million, or $4.25 per diluted share, versus a reported net loss of $15 million,
or 20 cents per diluted share in 1997.
The registrant reported that it currently expected full-year 1999 net
earnings to increase between 5% and 10% from 1998 net earnings. The registrant
advised that it currently expected first quarter 1999 net earnings could be
adversely affected by the Brazilian currency devaluation against the U.S.
Dollar. The registrant currently anticipates that its first-quarter 1999 net
earnings may decline by one and one-half cents per diluted share for each one
percent of devaluation in the Brazilian currency. However, the registrant
announced that it is continuing to aggressively pursue action to improve its
operating performance in the Latin American region.
Item 7. Financial Statements and Exhibits
Copy of press release dated January 26, 1999 regarding the registrant's
earnings for the fourth-quarter and full-year 1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WHIRLPOOL CORPORATION
Registrant
Date: January 29, 1999 By: /s/ Robert T. Kenagy
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Name: Robert T. Kenagy
Title: Associate General Counsel and
Secretary