Why Whirlpool Stock Went Into a Downward Spiral Today [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
As of 1:30 p.m. ET, Whirlpool stock was down almost 12%. Investors don't like Whirlpool's struggles Whirlpool is facing multiple headwinds. First, the company has a lot of debt. Second, inflation has increased its cost of manufacturing. And third, home-appliance purchases have slowed due to a slow housing market, meaning that management has to lower prices to stimulate sales. This is a bad combination. Whirlpool's Q1 net sales were down everywhere except for Latin America, resulting in a 3% year-over-year drop to $4.5 billion. The company also had ongoing earnings per share (EPS) of $1.78, which were down 33%, reflecting the higher costs coupled with lower-than-ideal selling prices. To reduce costs, Whirlpool is laying off 1,000 workers, according to The Wall Street Journal . This will reportedly save it $400 million eventually. But investors don't necessarily like layoffs because it's a reminder that the business is struggling. This was also likely on investors' minds today a
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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