Overview
- Whirlpool’s quarterly report Thursday sent the stock down about 20% in premarket trading and roughly 12% by the close after a wider loss and lower sales than Wall Street expected.
- Executives said U.S. appliance demand fell about 7.4% in the first quarter, the weakest since 2008, as the Iran war hit confidence and pushed buyers to repair old machines or trade down.
- Management cut its 2026 earnings forecast to $3.00–$3.50 per share and suspended the quarterly dividend to prioritize reducing debt this year.
- To rebuild profit, Whirlpool put through its biggest price moves in a decade with a roughly 10% increase in April and another 4% planned for July, alongside more than $150 million in cost cuts.
- The company said tariff shifts first triggered discounting when blanket duties were struck down, then favored U.S. makers after an updated rule applied a 25% levy to the full value of imported appliances.