Quick Summary
- Whirlpool shares plummeted 8.6% Monday, closing at $41.08âthe lowest point in almost 17 years
- The company reported a Q1 loss of 56 cents per share versus Wall Street’s expectation of a 38-cent profit
- Management slashed annual earnings outlook to $3-$3.50 per share from the January projection of $7 per share
- Quarterly dividend payment of 90 cents per share has been eliminated
- JPMorgan downgraded its WHR price target to $52 from $59 while keeping a Neutral stance
Shares of Whirlpool have entered a severe decline. Following a catastrophic quarterly report released last week, the appliance maker’s stock finished Monday trading at $41.08âa level not seen since June 2009.
Monday’s session alone saw an 8.6% decline. This followed an 11.9% collapse on Thursday when the company first unveiled its results. Year-to-date in 2026, WHR has plunged 43%, and it’s now sitting 83.8% below its May 2021 peak of $252.95.
First quarter revenue totaled $3.3 billion, falling short of the $3.4 billion consensus estimate. The company recorded a per-share loss of 56 cents, a dramatic swing from the $1.70 earnings per share delivered in the same period last yearâand significantly worse than the 38-cent profit analysts had anticipated.
Adding to investor concerns, the company eliminated its quarterly dividend payment, which had stood at 90 cents per share.
Annual Forecast Slashed Dramatically
The company’s full-year outlook underwent a severe revision. Whirlpool now anticipates earnings between $3 and $3.50 per share for 2026, a steep drop from its January forecast of $7 per share.
Expectations for free cash flow also declinedâreduced from approximately $450 million to $300 million.
Citi’s analyst Kyle Menges noted that industry demand has dropped to levels comparable with recession periods. He also highlighted an “aggressive promotional environment” that intensified following recent tariff decisions.
Tariff Dynamics Create Headwinds
The Supreme Court’s February decision reversed Trump’s comprehensive trade tariffs. Those duties had previously provided Whirlpool with protection against lower-cost imported appliances. Their removal now allows foreign competitors to adopt more aggressive pricing strategies.
With approximately 80% of Whirlpool’s revenue generated domestically, the U.S. pricing landscape is absolutely crucial.
Whirlpool’s response included announcing price increases in the double digits in an attempt to recover profitability. That strategy faces significant challenges in a market already experiencing weak consumer demand.
One possible bright spot exists. A recent modification in how the Trump administration enforces Section 232 tariffs means washing machines and related products containing metals now face a uniform 25% tariff, replacing the previous complicated metal-content formula.
This adjustment could potentially benefit Whirlpool against import competitors who had allegedly been exploiting loopholes in the previous system.
JPMorgan reduced its WHR price objective to $52 from $59 on Monday. The bank maintained its Neutral rating while lowering financial estimates after analyzing the Q1 report, pointing to weaker sales growth projections and diminished EBIT margin assumptions.
WHR touched an intraday low of $40.74 on Monday, momentarily breaking below the $41.08 closing price.
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