Highlights

  • Third quarter 2026 net sales were $3,677 million, compared with $4,033 million, and the net loss per share was $3.80.
  • The quarter included a $124 million non-cash impairment related to Whirlpool India and net charges of $54 million tied to Casas Bahia.
  • Cash used in operating activities was $826 million for the nine months ended September 30, 2026, compared with $669 million.
  • Management said it expects full year 2026 ongoing EBIT margin of 2% to 2.2% and net debt below $4.5 billion.

Whirlpool Corporation (NYSE: WHR) shares were trading at USD 26.00 on October 27, 2026, down 1.72%, with a relative volume at time of 4.33. The appliance maker recorded a $124 million impairment on its Whirlpool India investment and a $54 million Casas Bahia charge in the quarter, and it filed its Form 10-Q for the period ended September 30, 2026 on October 27, 2026.

Whirlpool is a Delaware corporation with principal executive offices in Benton Harbor, Michigan. It is a kitchen and laundry appliance company whose brands include Whirlpool, KitchenAid, JennAir, Maytag, Amana, Brastemp, Consul and InSinkErator. It operates three segments: Major Domestic Appliances North America, Major Domestic Appliances Latin America, and Small Domestic Appliances Global. In 2025 the company reported approximately $16 billion in annual sales, 41,000 employees and 35 manufacturing and technology research centers. Its fiscal year ends December 31.

Third Quarter Results

Net earnings (loss) available to Whirlpool common shareholders was a loss of $249 million, or $3.80 per share, compared with earnings of $73 million, or $1.29 per share, in the prior year period. Net sales decreased 8.8% to $3,677 million from $4,033 million. The company attributed the decrease mainly to the deconsolidation of Whirlpool of India and an industry demand decline in North America, partly offset by currency in Latin America.

Gross margin was $473 million, or 12.9% of net sales, against 14.7%. The company cited operational inefficiencies from lower volume, higher tariff costs and cost inflation. Restructuring costs were $35 million, compared with $6 million. Selling, general and administrative expense was $428 million, up from $405 million, mainly due to credit losses tied to the Casas Bahia bankruptcy reorganization.

Equity method investment loss was $118 million, compared with $11 million. Mandatory convertible preferred stock dividends accumulated during the period were $12 million.

Segments

MDA North America net sales decreased 8.3%, which the company attributed to lower volume amid soft industry demand. EBIT margin was 3.0%, compared with 4.9%. MDA Latin America net sales increased 6.9%, and EBIT margin was 2.0%, compared with 5.7%. SDA Global net sales decreased 0.7% on a timing shift of orders into the fourth quarter, and EBIT margin was 18.6%, compared with 16.5%.

Balance Sheet, Credit and Cash Flow

Cash used in operating activities was $826 million for the nine months, with capital expenditures of $255 million. Financing activities provided $1,380 million, including net proceeds of about $524 million from common stock and about $557 million from mandatory convertible preferred stock issued in February 2026. Cash and cash equivalents were approximately $1.1 billion at September 30, 2026.

On June 16, 2026 Whirlpool issued $2 billion of Secured Notes and entered a $2 billion ABL Credit Facility, with $0 million outstanding under that facility at quarter end. The company said its debt holds a non-investment grade rating, which has reduced access to some financing and raised costs. Fitch lowered its senior unsecured rating to BB- and Moody's to Ba3 during the second quarter.

The company recorded a $54 million charge for the Casas Bahia reorganization, including $46 million of credit losses net of expected insurance recoveries. It said the event could have a near-term effect on results. It also said its Maytag, JennAir, Amana and InSinkErator trademarks continue to be at risk of impairment at September 30, 2026.

Outlook

The 10-Q states the company expects about $170 million of restructuring charges for full year 2026. On the October 27, 2026 call, management said it expects a like for like revenue decline of approximately 1.5%, ongoing EBIT margin of 2% to 2.2%, free cash flow of approximately $300 million and year end net debt below $4.5 billion. It also said it expects North America industry demand to decline approximately 5% and has announced further price increases of 7% to 10%.