Whirlpool Cuts Earnings Guidance Amid Iran War
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- Whirlpool shares fell 12% after the company warned the Iran war caused a recession‑level decline in U.S. appliance demand.
- Whirlpool cut its full‑year earnings guidance to $3–$3.50 per share, down from about $6 per share, and suspended its dividend to prioritize debt repayment.
- Whirlpool CEO Marc Bitzer said the firm acted decisively on pricing and costs and highlighted Section 232 tariff changes that favor domestic manufacturers.
- JPMorgan analysts said the lower outlook was driven by higher raw‑material inflation, a larger net tariff impact, and weaker price and product‑mix benefits.
- University of Michigan survey showed consumer confidence fell to a record low in April as gasoline prices spiked due to the Iran war.
Why it matters: Home‑appliance buyers face higher prices and fewer choices as Whirlpool trims forecasts and pauses dividends, while raw‑material suppliers and domestic manufacturers stand to gain from Section 232 tariff shifts.
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