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Whirlpool shares plunge after profit outlook cut
Whirlpool Corp. shares tumbled 14% in after-hours trading on Monday after the company cut its yearly profit outlook from $10 to between $6 and $8 per share—well below what Wall Street expected.
Falling sales are the main culprit
Falling sales are the main culprit: Whirlpool's revenue dropped 5.4% last quarter, with North American sales hit by high mortgage rates slowing down home buying (and appliance upgrades).
The company also trimmed its dividend, signaling caution ahead.
Whirlpool blames delayed tariff benefits, tough competition
Whirlpool blamed delayed tariff benefits and tough competition from Asian brands running aggressive promos.
CFO Jim Peters said tariff changes could help eventually, but for now, these pressures are weighing heavy—even though Whirlpool kept its full-year sales forecast above estimates.