Report: Whirlpool to cut 1,000 jobs [Yahoo! Finance]
Whirlpool Corporation (WHR)
Last whirlpool corporation earnings: 4/30 04:10 pm
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US:NYSE Investor Relations:
investors.whirlpoolcorp.com/investor-relations
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Source: Yahoo! Finance
According to Bloomberg , the first round of layoffs targeted office staff and a second round is expected soon. The company saw its stock take a hit in the wake of the news. Shares were down more than 11% as of Thursday morning. The stock value is down nearly 30% over the last year. Chief Financial Officer Jim Peters told Bloomberg that a slowdown in home sales curbed demand and caused sales to fall short of projections. The company is aiming to reduce expenses by $400 million for the fiscal year. Sign up for breaking news alert emails Whirlpool announced its first-quarter results Wednesday, reporting $4.49 billion in overall revenue, 3.4% below estimates. Large appliance sales in North America were down 8.1%. Peters said the company is seeing some positive signs despite slower home sales. Trends show some homeowners turning to renovations instead of moving, including new appliances. The company also plans to invest more in smaller countertop appliances, including KitchenAid
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News
- Whirlpool making additional layoffs as part of global workforce reduction [Seeking Alpha]Seeking Alpha
- Induction Cooktops Market to Attain Valuation of USD 15.50 Billion By 2032: Astute Analytica [Yahoo! Finance]Yahoo! Finance
- Whirlpool Co. (NYSE: WHR) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- The best places to find pre-Memorial Day appliance deals [CBS News]CBS News
- Whirlpool Co. (NYSE: WHR) had its price target lowered by analysts at Royal Bank of Canada from $85.00 to $79.00. They now have an "underperform" rating on the stock.MarketBeat
WHR
Earnings
- 4/24/24 - Beat
WHR
Sec Filings
- 5/3/24 - Form 8-K
- 4/30/24 - Form 4
- 4/25/24 - Form 10-Q
- WHR's page on the SEC website