Whirlpool Posts $249 Million Net Loss as Third-Quarter Sales Fall 8.8%
Key Facts
Whirlpool said on October 26 it recorded a $249 million net loss available to common shareholders in the third quarter, compared with earnings of $73 million a year earlier. Net sales fell 8.8% year over year to $3.677 billion, from $4.033 billion in the same period of 2025. Diluted GAAP results swung to a loss of $3.80 per share, compared with earnings of $1.29 in the third quarter last year. On a non-GAAP ongoing-profit basis, the company posted a loss of $0.21 per share, after earnings of $2.09 a year earlier. The results set the backdrop for the company’s revised annual outlook as it continues to face declining sales and margins.
According to company data, ongoing operating margin fell to 2.6% from 4.5% a year earlier, while ongoing operating profit declined to $97 million from $180 million, a drop of 46.1%. In August, Whirlpool had forecast full-year GAAP earnings of $2.25 to $2.75 per diluted share and non-GAAP ongoing earnings of $2.50 to $3.00 per share. Investing.com reported the current 2026 ongoing-profit guidance at a range from a $1.30-per-share loss to breakeven, compared with analysts’ average estimate of earnings of $1.21. The site also reported an average revenue forecast of $15 billion, against the company’s guidance of $14.50 billion. The comparison shows a widening gap between the company’s current outlook and its previous guidance, as well as a difference from the estimates cited in the report.
Chief Executive Mark Bitzer said structural cost reductions and the impact of price increases helped improve margins sequentially in the third quarter. But he said the recovery was progressing more slowly than expected, adding that the measures taken lay the groundwork for further improvement in 2027. On demand, the company said global sales of small domestic appliances, excluding currency effects, fell 0.9% year over year. In the United States, strong consumer sales and shifts in order timing lifted October orders by about 40% compared with the same month last year. The mixed indicators put the third-quarter sales decline alongside higher U.S. orders in the following month, while management is counting on pricing and cost reductions to improve margins.
Whirlpool maintained its forecast for net sales of about $14.5 billion in fiscal 2026, with expected free cash flow near $300 million. The company also expects net debt to be below $4.5 billion at year-end. These estimates provide parallel financial indicators alongside the revised earnings guidance, as third-quarter results showed declines in sales and ongoing operating profit. Before the results announcement, the company’s shares closed at $28.11 on October 23; that price preceded the announcement and does not reflect subsequent market movement. The company is scheduled to hold a call to discuss its performance with the investment community on October 27 at 8 a.m. Eastern time.