In short, we did what we told you we would do. We were able to achieve meaningful cost reductions, we improved our supply chain, our product innovations drove strong consumer demand, and we gained market share both sequentially and year-over-year. It was instead our consistent and disciplined execution of our operational priorities that drove its improvements. The global industry demand was down, but frankly that is what we expected.
#Model builder continue from a certain point drivers
If you look at the drivers of this improved performance, we did not get a lot of help from a macro environment. And it was a quarter which puts us firmly on track towards our full-year guidance. It was the first quarter which demonstrated significant improvement from our Q4 of last year. As you will have noted in our earnings release, we did start the year with a very solid first quarter.
With that, I'll turn the call over to Mark. As a reminder, we ask that participants ask no more than two questions. Following our prepared remarks, the call will be open for analyst questions. Listeners are directed to the presentation and supplemental information package posted on the Investor Relations section of our website for the reconciliation of non-GAAP items to the most directly comparable GAAP measures.Īt this time, all participants are in a listen-only mode.
We also think the adjusted measures will provide you with a better baseline for analyzing trends in our ongoing business operations. We believe these measures are important indicators of our operations as they exclude items that may not be indicative of results from our ongoing business operations. We also want to remind you that today's presentation includes non-GAAP measures outlined in further detail on Slide 3 of the presentation. Our actual results could differ materially from these statements due to many factors discussed in our latest 10-K, 10-Q, and other periodic reports. Our remarks today track with a presentation available on the Investors section of our website at .īefore we begin, I want to remind you that as we conduct this call, we'll be making forward-looking statements to assist you in better understanding Whirlpool Corporation's future expectations. Joining me today are Marc Bitzer, our Chairman and Chief Executive Officer and Jim Peters, our Chief Financial Officer. Thank you and welcome to our first quarter 2023 conference call. For opening remarks and introductions, I would like to turn the call over to Senior Director of Investor Relations, Korey Thomas. Good morning and welcome to Whirlpool Corporation's First Quarter 2023 Earnings Release Call. Marc Bitzer - Chairman and Chief Executive Officer Korey Thomas - Senior Director of Investor Relations Whirlpool Corporation ( NYSE: WHR) Q1 2023 Earnings Conference Call Ap8:00 AM ET
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