Whirlpool swings to Q3 loss, says recovery is slower than expected

Whirlpool swung to a third-quarter loss on Monday and updated its full-year outlook, saying its recovery is coming more slowly than it expected even as price increases and cost cuts improve margins from quarter to quarter.

The appliance maker reported a GAAP loss of $3.80 per diluted share, compared with earnings of $1.29 a year earlier, according to its earnings release filed with the SEC. Ongoing earnings, its non-GAAP measure, were a loss of $0.21 per share, versus a profit of $2.09.

Net sales fell 8.8% to $3.68 billion. Organic net sales declined 5.4%.

"While the pace of recovery is slower than expected, these actions are setting a clear path for further improvements in 2027," Chairman and CEO Marc Bitzer said in the release.

North America under pressure

Sales in Whirlpool's largest segment, Major Domestic Appliances North America, fell 8.3% to $2.50 billion. The company blamed soft industry demand. That segment's EBIT fell to $74 million from $134 million.

Whirlpool said it has announced a 7% price increase there, effective in the fourth quarter. In Latin America, where sales rose 6.9%, it has announced increases of up to 10%.

Updated 2026 outlook

For the full year, Whirlpool now expects:

• Net sales of about $14.5 billion
• GAAP loss of about $4.95 per diluted share
• Ongoing loss of about $1.30 per diluted share
• Ongoing EBIT margin of 2.0% to 2.2%
• Operating cash flow of about $700 million and free cash flow of about $300 million

CFO Roxanne Warner said in the release that Whirlpool now expects net debt below $4.5 billion at year end, improved from its earlier target of under $5 billion.

By the numbers

• Q3 net sales: $3.68 billion, down 8.8%
• Q3 GAAP EPS: loss of $3.80, versus earnings of $1.29
• Q3 ongoing EPS: loss of $0.21, versus earnings of $2.09
• Q3 ongoing EBIT margin: 2.6%, versus 4.5%
• 2026 ongoing EPS outlook: loss of about $1.30

Sources

1. Whirlpool Corporation, Form 8-K with third quarter 2026 earnings release, filed Oct. 26, 2026 (accession 0000106640-26-000070)

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