Whirlpool Falls 6.5% to $42.03 After Q1 Miss and Dividend Suspension
Updated
Updated · Barron's · May 11
Whirlpool Falls 6.5% to $42.03 After Q1 Miss and Dividend Suspension
1 articles · Updated · Barron's · May 11
Summary
$42.03 shares left Whirlpool on track for its lowest close in about 17 years after the appliance maker posted a wider-than-expected first-quarter loss and suspended its quarterly dividend.
A 56-cent-per-share loss on $3.3 billion in sales missed forecasts for 38 cents of profit on $3.4 billion, while full-year EPS guidance was cut to $3-$3.50 from $7.
Whirlpool said economic and policy uncertainty, higher costs and aggressive competition hurt results, with the February court ruling against broad Trump tariffs allowing imported rivals to price more aggressively in its core U.S. market.
The stock is now down 41.7% this year and nearly 50% over 12 months, though analysts said revised Section 232 tariffs on steel- and aluminum-heavy products could eventually help Whirlpool compete.