Whirlpool plans double-digit price hikes after $82 million quarterly loss
Updated
Updated · MarketWatch · May 6
Whirlpool plans double-digit price hikes after $82 million quarterly loss
12 articles · Updated · MarketWatch · May 6
The appliance maker said the Iran war triggered recession-level US industry decline, sending shares down 18% after hours to $44.96 and turning year-earlier profit into a $1.43-a-share loss.
First-quarter sales fell to $3.27 billion from $3.62 billion, missing estimates, while adjusted loss per share was 56 cents versus expectations for 38 cents in earnings.
Whirlpool said it will accelerate cost cuts and inventory reductions, and slashed full-year earnings guidance to $2.45-$2.95 a share from $6.25, with revenue now seen at $15 billion.
With demand at recession-level lows, will Whirlpool's aggressive price hikes save the company or accelerate its decline?
Caught between war, tariffs, and a frozen housing market, can Whirlpool's strategic overhaul secure its future as a top US manufacturer?