Latest news with #JimPeters
Yahoo
29-07-2025
- Business
- Yahoo
Whirlpool Results, Outlook, and Dividend Hit by Consumer Sentiment and Tariffs
Key Takeaways Whirlpool blamed falling consumer sentiment and the impact of tariffs for weaker-than-anticipated results. The major appliance maker recommended slashing its dividend to reduce costs. Whirlpool also reduced its full-year profit (WHR) shares tumbled more than 10% Tuesday, a day after the maker of washers, dryers, and other major appliances posted worse-than-expected results, cut its guidance, and planned to reduce its dividend because of what it called "negative consumer sentiment." The owner of its eponymous brand as well as Maytag, KitchenAid, and others reported second-quarter adjusted earnings per share of $1.34, with revenue declining more than 5% year-over-year to $3.77 billion. Both fell short of Visible Alpha estimates. The Benton Harbor, Mich.-based firm added that along with falling consumer sentiment, its results continued to be hurt by high levels of promotional activity and new U.S. tariffs, with competitors "stockpiling Asian imports into the U.S." ahead of the implementation of the new duties. CFO Jim Peters said the company faced an "uncertain environment," and because of that "we are focused on what we can control: executing cost reduction, proactively managing debt maturities, and strengthening our balance sheet to ensure financial resilience." As part of that cost reduction, Whirlpool announced that it was recommending slashing its annual per share dividend to $3.60 from $7.00. The company also lowered its full-year adjusted EPS outlook to a range of $6.00 to $8.00 compared to the previous forecast of approximately $10.00. Shares of Whirlpool have lost roughly a quarter of their value this year. Read the original article on Investopedia
Yahoo
13-05-2025
- Business
- Yahoo
Whirlpool Corporation to Present at J.P. Morgan 18th Annual Homebuilding & Building Products Conference
BENTON HARBOR, Mich., May 13, 2025 /PRNewswire/ -- Whirlpool Corporation (NYSE: WHR) announced today that it will participate in the J.P. Morgan 18th Annual Homebuilding & Building Products Conference on May 20th at 2:00 p.m. ET at 383 Madison Avenue, New York City. Presenting for Whirlpool Corporation will be Jim Peters, Executive Vice President and Chief Financial and Administrative Officer. The Company invites investors and the general public to view the webcast of the fire side chat, which will be available on the events & presentations page of the Company's Investor Relations website, or via the following link. The presentation and an archived recording of the event will also be available on the events & presentations section of the Company's website at for at least 30 days. About Whirlpool CorporationWhirlpool Corporation (NYSE: WHR) is a leading home appliance company, in constant pursuit of improving life at home. As the last-remaining major U.S.-based manufacturer of kitchen and laundry appliances, the company is driving meaningful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, JennAir, Maytag, Amana, Brastemp, Consul, and InSinkErator. In 2024, the company reported approximately $17 billion in annual sales - close to 90% of which were in the Americas - 44,000 employees, and 40 manufacturing and technology research centers. Additional information about the company can be found at View original content to download multimedia: SOURCE Whirlpool Corporation
Business Insider
25-04-2025
- Business
- Business Insider
This company thinks it will be a 'winner' from Trump's tariffs
US-based appliance firm Whirlpool says it will be a "net winner" from Trump's tariffs. Whirlpool produces around 80% of its products in the US, it said in a presentation this week. "Expect tariff policies to level the playing field for domestic producers," it said. "With 80% domestic production, Whirlpool is a net winner of new tariff policies!" — the company said in a presentation released alongside its first quarter this week. Whirlpool manufactures kitchen and laundry appliances, operating brands including KitchenAid, Whirlpool, and JennAir. "Expect tariff policies to level the playing field for domestic producers," the presentation, which was positive about Trump's tariffs, said. In the same presentation, Whirlpool accused companies producing products in Asia of exploiting "loopholes" since 2020 that enable them to make the same product for a cheaper cost, with a $70-per-unit price difference. From cheaper steel prices and no steel tariffs paid on components in Asia's supply chain, Whirlpool believes the tariffs will "eliminate this unfair disadvantage." To mitigate the impact of the tariffs, the company announced a price increase for components in April. Whirlpool has 10 production plants based in the US, and around 80% of its products are assembled and sold in the US. "New reciprocal tariffs begin leveling the playing field, and additional US trade actions will better support American manufacturing." "We continue to stay focused on what is within our control in this dynamic environment and successfully implemented previously announced pricing actions," said Jim Peters, Whirlpool's chief financial and administrative officer.
