Whirlpool Faces Recession-Level Slump as War and Tariffs Pinch Appliance Sales
TL;DR
Whirlpool reports a near-10% revenue drop in the latest quarter, with major North American appliance sales down more than 7%, as consumer confidence weakens amid the Iran conflict and inflation. The company is raising prices (10% in April and 4% in July) to offset rising costs after a Q1 loss of $82 million, and has cut its full-year earnings forecast to $3.00–$3.50 per share while suspending the dividend to shrink debt. Shares fell more than 12%. Tariff rulings and higher costs are noted as ongoing pressures on demand.
- Whirlpool warns of ‘recession-level’ slump as Iran war and tariff ruling hit sales The Guardian
- Whirlpool’s Stock Fell as Much as 20% After Company Warns Higher Prices Are Coming WSJ
- Whirlpool says Iran war causing 'recession-level industry decline.' The shares are down 12% CNBC
- Whirlpool stock sinks 20%, CFO says appliance demand hasn't been this low since 'the great financial crisis' Yahoo Finance
- Whirlpool shares hit 14-year low after slashing annual targets, suspending dividend Reuters
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