Stock of the Day

October 2, 2020

Whirlpool (WHR)

$38.07
-$2.77 (-6.8%)
Market Cap: $2.66B

About Whirlpool

Whirlpool Corporation manufactures and markets home appliances and related products and services in the North America, Europe, the Middle East, Africa, Latin America, and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances, and commercial laundry products and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers. It markets and distributes its products primarily under the Whirlpool, Maytag, KitchenAid, JennAir, Consul, Brastemp, Amana, Bauknecht, Hotpoint, Indesit, InSinkErator, Yummly, Affresh, Gladiator, Swash, everydrop, Ignis, Privileg, Eslabon de Lujo, and Acros brands. The company sells its products to retailers, distributors, dealers, builders, and other manufacturers, as well as directly to consumers. Whirlpool Corporation was founded in 1911 and is headquartered in Benton Harbor, Michigan.

Today's Trend

Whirlpool Corporation (NYSE: WHR) shares have increased as investors focus on the company’s turnaround initiatives and maintained full-year guidance, despite a weaker-than-expected second quarter. The recent move appears to reflect relief that management’s cost-cutting, pricing and debt-reduction plans remain on track.

  • Management maintained its 2026 adjusted earnings guidance of $2.50–$3.00 per share after reporting a second-quarter loss, supporting the view that current weakness may be temporary. Whirlpool highlighted improving margins, pricing actions, cost reductions and plans to reduce debt by more than $900 million this year. Why Did Whirlpool Maintain Guidance Despite Loss?
  • The earnings discussion pointed to potential benefits from factory-footprint optimization, pricing initiatives and tariff-related support for U.S. manufacturing. These efforts could improve profitability if Whirlpool can execute while recovering demand. Whirlpool Earnings Call: Turnaround Gains Amid Cash Strain
  • Whirlpool showcased its apprenticeship programs during a visit from Acting U.S. Labor Secretary Keith Sonderling. The event may enhance the company’s workforce and government-relations profile, but it has limited immediate earnings impact. Whirlpool showcases apprenticeship programs
  • Second-quarter results missed expectations: Whirlpool reported a $0.21-per-share loss versus a projected $0.06 loss, while revenue declined 6.8% year over year to $3.52 billion. Lower volumes, inventory pressure and higher tariff, material and fuel costs weighed on margins. Whirlpool's Q2 Earnings Miss
  • Investors remain concerned about cash strain, elevated debt costs and soft consumer demand. Brokerages’ consensus recommendation is “Reduce,” underscoring skepticism about the sustainability of the recovery. Whirlpool Receives Consensus Reduce Recommendation

Recent News