Whirlpool Sees 10% Revenue Drop and $1.43 EPS Loss, Raises Prices 10%
Whirlpool’s Q1 revenue fell 10% year-over-year to $3.27 billion, while adjusted loss per share reached $1.43 versus a $0.36 loss forecast, and shares plunged 16%. North American major appliance sales dropped 7.5% as the company enacted a 10% April price hike and plans a 4% increase in July.
1. Q1 Financial Results
Whirlpool's first-quarter revenue dropped 10% year-over-year to $3.27 billion, and the company reported an adjusted loss per share of $1.43 versus a $0.36 loss forecast. Shares fell 16% in extended trading following the earnings miss.
2. Segment Performance
Major appliance revenue in North America declined 7.5% to $2.24 billion, while Latin America sales increased 5% to $774 million. A bright spot in small domestic appliances drove revenue up 13.4% to $222 million.
3. Demand Headwinds
Consumer confidence fell to recession-level lows, with factors including the Iran war’s impact and severe winter weather contributing to a 7.4% industry contraction, the weakest since the financial crisis. Big-ticket discretionary purchases were particularly hit by this downturn in sentiment.
4. Pricing Actions
To restore profitability, Whirlpool implemented a 10% price increase in April and plans an additional 4% hike in July. The Supreme Court’s tariff refund decision intensified promotional pressures as competitors cut prices across the industry.