Whirlpool shares tumble after revenue miss, dividend suspension
07/05/2026 15:37
May 7 (Reuters) - Whirlpool WHR.N shares plunged to their lowest level in more than 14 years on Thursday, after the home appliance maker missed the first-quarter revenue estimate and suspended its dividend. As inflation pushes consumers to rein in spending, the ongoing Middle East conflict has compounded the pressure, further dragging on sentiment and tightening household budgets through a war-fueled spike in energy prices. "The war in Iran amplified consumer concerns about the cost of living. As a direct result, the consumer sentiment index in U.S. plunged, reaching the lowest level on record in March," Whirlpool CEO Marc Bitzer said on a conference call with analysts on Thursday. The company also slashed its full-year profit forecast to $3-$3.5 per share, from about $7 per share projected earlier. Whirlpool's shares slid nearly 13% to about $48 in early trading. Its debt-to-equity ratio stands at roughly two times. (Reporting by Apratim Sarkar and Nandan Mandayam in Bengaluru; Editing by Shilpi Majumdar) ((Apratim.Sarkar@thomsonreuters.com;))