3 2022 earnings call with investors, Whirlpool also commented on the announced review of its EMEA (Europe, Middle East and Africa) strategy. The company reported that a total of ten entities have expressed interest in this part of its business, two of which are currently potential investors. Whirlpool is now evaluating offers. It has been emphasized that this is a sale of “EMEA” as a whole and in no case will there be a sale to multiple entities piecemeal. In any case, the entire strategic review has reached its final stage, and the decision may be announced in the near future. However, Whirlpool has not yet announced anything concrete. Whether there is a possibility of some form of joint venture is not known. The official statement mentions two strategic investors. It is important to mention that the option is still in play, that no sale will ultimately take place and Whirpool will continue manufacturing in Europe. The company is ready for this option.

Third quarter in the red
As for the results themselves, they are significantly affected by the sale of Whirlpool’s assets in Russia to the Turkish Arçelik. The geopolitical situation and the fading of covid do not wish much for appliance sales this year. The 12.8% drop in sales isn’t much of a surprise. Whirlpool cut production by 35% in the third quarter because of this. On the other hand, the whole year 2022 will not be bad for Whirlpool by any means, as the company expects the second best result in its history