We delivered revenue growth of 4% year-over-year, which represents growth of 8% compared to 2019.
Next, the decisive actions we took early this year delivered strong double-digit margins of 11.1%, which largely offset the expected cost inflation of 650 basis points.
Additionally, we generated positive adjusted free cash flow of $1.3 billion, a $1.1 billion increase compared to a year ago.
Lastly, we opportunistically executed $441 million in share buybacks in the third quarter, and added to our previous investments in Elica India by acquiring the majority interest in the company.
Our ability to successfully deliver strong results in a difficult operating environment gives us the confidence to increase our guidance to approximately $26.25 per share.
Raw material inflation, particularly steel and resins resulted in an unfavorable impact of 650 basis points.
Price and mix delivered 600 basis points of margin expansion led by the execution of the previously announced cost base price increases.
Additionally, ongoing cost productivity initiatives delivered 50 basis points of net cost margin improvement.
Lastly, increased investments in marketing and technology and the continued impact from currency in Latin America impacted margins by a combined 75 basis points.
We expect to drive strong net sales growth of approximately 13%, and EBIT margins of 10.8%.
Additionally, we continue to expect to deliver $1.7 billion in adjusted free cash flow, or 7.7% of net sales.
Finally, we are raising our ongoing earnings per share guidance to approximately $26.25, a year-over-year increase of over 40%.
We continue to expect 600 basis points of margin expansion driven by price mix.
We have increased our expectation for net cost takeout to 200 basis points as we realized further efficiencies and continue to focus on cost productivity.
And still expect our business to be negatively impacted by about $1 billion, with the peak increase already realized in the third quarter.
We continue to expect increased investments in marketing and technology, and unfavorable currency primarily in Latin America to impact margins by 125 basis points.
Overall, we are confident in our ability to continue to navigate in this environment and deliver 10.8% EBIT margin, representing our fourth consecutive year of margin expansion.
Our commitment to fund innovation and growth remains unchanged, as we expect to invest over $1 billion in capital expenditures and research and development.
Next, with a clear focus on returning significant levels of cash to shareholders, we expect to repurchase over $940 million of shares in 2021, which includes over $300 million in the fourth quarter.
Including dividends, we expect to return a total of over $1.2 billion to shareholders this year.
In North America, we delivered 5% revenue growth with sustained and robust consumer demand in the region.
The region delivered stable revenue year-over-year, which represents growth of over 15%, compared to 2019.
We remain confident in the actions we have in place.
Net sales increased by 17%, led by cost-based price increases and strong demand across Mexico.
The region delivered very strong EBIT margins of 8.7%, despite supply constraints, inflation and continued negative impact from currency.
Excluding this, the region grew by 3% year-over-year or 10% compared to 2019.
The region delivered very strong EBIT margins of 8.6%, driven by cost-based price actions and positive impact from our Whirlpool China divestiture.
From our introduction of a first electric wringer washer and first stand mix in the early 1900 to our launch of the first French door build-in refrigerator, and our leadership in connected appliances today.
These new long-term value creation goals build on our strong foundation, but reflect the fact that we are very different Whirlpool than 10 years ago, operating in a very different world.
We now expect revenue to grow at a rate of 5% to 6%, almost doubling our previous goal of approximately 3%.
Next, we are increasing our EBIT margin expectation from approximately 10% to a range of 11% to 12%.
Additionally, we expect to continue to convert cash at a high level and have increased our adjusted free cash flow as a percentage of net sales from 6% plus to a range of 7% to 8%.
Lastly, we expect to deliver return on invested capital of 15% to 16%, an increase from our previous target of 12% to 14%.
Now, turning to Slide 19, I will discuss why we expect revenue growth of 5% to 6%.
Over the past years, we've built our own Whirlpool direct-to-consumer business that represents today approximately $1 billion.
Our multi-year investment in our strategic digital transformation has been and will continue to deliver growth rate of over 25%.
As we exited the Great Recession of 2009 to 2011, we took many difficult actions enabling the low fixed cost position we have to date.
We removed over $1 billion in costs by reducing our fixed asset base by over 30% in just the last five years.
Sustained healthy market demand and strong operational execution gives us the confidence to increase our ongoing earnings per share to approximately $26.25, while delivering adjusted free cash flow of $1.7 billion.
Next, we are unwavering on our commitment to drive strong shareholder value as we expected to deliver record ongoing earnings per share and return over $1.2 billion to shareholders in 2021.

Summary:
We expect to drive strong net sales growth of approximately 13%, and EBIT margins of 10.8%.
Finally, we are raising our ongoing earnings per share guidance to approximately $26.25, a year-over-year increase of over 40%.
We remain confident in the actions we have in place.