Overview
- Whirlpool shares fell about 20% in premarket trading Thursday after a steep first‑quarter miss and a warning on collapsing demand.
- Revenue slipped nearly 10% to $3.27 billion with an adjusted loss of $1.43 per share and a GAAP net loss of about $85 million.
- Management cut full‑year earnings guidance to $3.00 to $3.50 per share and suspended the dividend to prioritize more than $900 million of debt reduction in 2026.
- Executives cited a collapse in consumer confidence tied to the Iran war’s fuel‑price spike and said a Supreme Court tariff ruling triggered heavy discounting by rivals.
- To restore margins, the company raised list prices by 10% in April and plans another 4% increase in July while accelerating over $150 million in structural cost cuts.