Whirlpool’s Q1 results were reported by NYSE:, and EPS was $5.31 below the consensus estimate. The consensus estimate was $5.32 trillion, but revenue came in at $4.92 billion.

This quarter saw strong net sales growth at 13.8% and organic net growth at 17.3%, respectively.

Also, the company initiated a strategic review for its EMEA business. This is scheduled to conclude by Q3/2022. The company also pledged to speed up the process of transforming its portfolio, with an emphasis on high-growth and high-margin business.

Quarterly dividends were increased 25% from $1.75 to $1.75 each share.

According to the company’s full outlook for 2022, its estimated EPS was $24-$26, down from $27–$29. This compares with $26.32 consensus. The expected net growth in sales is between 2 and 3%.

Marc Bitzer, CEO of the company, stated the company plans to position it on high growth, high margin businesses.

Whirlpool shares are down by 24% over the past year.