MW Whirlpool says it's a 'winner' under new tariffs, as consumers stay cautious

By Bill Peters

CEO said 'uncertain macro environment' has weighed on consumer confidence, but expresses support for new import taxes

As with many companies, shares of Whirlpool Corp. have fallen, broadly, since President Donald Trump announced steep new tariffs on many of America's trading partners, amid worries about consumer demand and the economy.

But on Wednesday, executives at the washer and dryer maker said the company would be a "winner" under the new trade regime, and said it would benefit domestic manufacturing.

Shares of Whirlpool $(WHR)$ rose about 4% after hours on Wednesday, as the company held to its full-year outlook against that backdrop and expanded its margins during the first quarter.

In a presentation published in conjunction with its first-quarter earnings, the company said that with "80% domestic production, Whirlpool is a net winner of new tariff policies."

Whirlpool said price increases and cost cuts would help prop up its results. And it said it was looking at ways to change production and the sourcing of parts to further blunt the impact of Trump's import taxes.

That presentation also said the Trump administration's trade policies would "level [the] playing field for domestic production," after nations in Asia took steps to get around existing tariffs.

The company reported first-quarter adjusted earnings per share of $1.70, in line with estimates from analysts polled by FactSet. Sales fell 19.4% year over year to $3.62 billion, after offloading operations in Europe. That figure was a bit below Wall Street's expectations for $3.67 billion.

For the full year, Whirlpool said it expects around $15.8 billion in sales, with adjusted earnings of around $10 a share.

"Despite the uncertain macro environment which impacted consumer confidence in the first quarter, we delivered 160 basis points of margin expansion," Chief Executive Marc Bitzer said in a statement.

Whirlpool's earnings call will take place on Thursday. Shares of Whirlpool are down 26.4% over the past 12 months.

-Bill Peters

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April 23, 2025 20:08 ET (00:08 GMT)

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