Overview
- Whirlpool shares, which fell about 20% Thursday in premarket trading, slid after the company said the Iran war sparked a recession-level drop in U.S. appliance demand.
- The company reported first-quarter revenue of $3.27 billion, an adjusted loss per share of $1.43, and a GAAP net loss of $85 million.
- Whirlpool cut its 2026 adjusted earnings outlook to $3.00 to $3.50 per share and suspended its dividend to prioritize paying down more than $900 million in debt.
- Management raised list prices by 10% in April with another 4% set for July and is pursuing more than $150 million in structural cost cuts to restore margins.
- North America revenue fell 7.5% with EBIT near break-even, while Latin America grew and small domestic appliances like espresso machines rose as shoppers skipped big-ticket buys.