Whirlpool Corporation released its first quarter earnings report on Tuesday. It says sales for the first quarter of 2022 were down 8% from first quarter 2021 in North America. Overall industry volumes were down 4% year over year, but up 24% compared to 2019. That’s because appliance sales went up when the pandemic started and now they’re edging back down. In Euope, demand was negatively impacted by the war in Ukraine. Whirlpool expects full-year 2022 net sales growth of 2 to 3%, reduced earnings per diluted share to $24.00 to $26.00 from $27.00 to $29.00, and reduced cash provided by operating activities to $1.95 billion from $2.2 billion and free cash flow to $1.25 billion from $1.5 billion. CEO Mark Bitzer said, “We have delivered four consecutive years of all-time record results and we have a very strong balance sheet. Now we will accelerate the focus of our portfolio on high growth and high margin businesses, positioning our company for the future
