Whirlpool shares slide to 14-year low after profit outlook cut and dividend suspended

Whirlpool shares fell more than 13% to a 14-year low of $47.45 on Thursday asourceser the home appliance maker cut its full-year profit outlook and suspended its dividend.

The company now expects adjusted profit of $3 to $3.50 per share in 2026, down from an earlier forecast of about $7. Whirlpool also lowered its annual revenue outlook to $15 billion from a previous range of $15.3 billion to $15.6 billion, citing an expected 5% decline in industry-wide appliance sales in North America.

Whirlpool attributed the weaker outlook to high interest rates, sluggish housing market activity and cautious consumer spending amid inflation, which have reduced replacement demand and increased discounting across the U.S. household appliance sector, pressuring margins.

The company said the Middle East conflict has added to the strain by pushing energy prices higher and weighing on consumer sentiment.

To conserve cash and speed up debt reduction, Whirlpool suspended its dividend. It is targeting more than $900 million of debt reduction in 2026, more than double its initial target of $400 million, and aims to bring total debt below $5 billion over the longer term.

Whirlpool shares are down 34% year-to-date, underperforming the Dow Jones U.S. Consumer Goods index, which is down 2% over the same period.