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Takeaways from the Key Takeaways
- Shares of Whirlpool gained in premarket trading Thursday, a day after the maker of home appliances said that it is a "net winner" of President Donald Trump's tariffs.
- Whirlpool said it expects the new tariff policies to "level the playing field, better supporting American manufacturing."
- Whirlpool's first-quarter results were mixed, with profit topping and revenue falling short of analysts' estimates.
Shares in Whirlpool (WHR), a maker of home appliances, gained ground Thursday morning. The company had said the day before that it was “net winners” from President Donald Trump’s tariffs.
"With 80% domestic production Whirlpool is a NET winner of new tariff policies!," the Benton Harbor, Mich.-based company said as it posted mixed results after the bell Wednesday. Whirlpool said it expects the new tariff policies to "level the playing field, better supporting American manufacturing."
The company said that since 2020, Asian producers had "exploited 'loopholes'" to skirt previous tariffs, "resulting in a significant cost disadvantage for U.S.-made products." Whirlpool added that "Asian producers 'loaded' U.S. industry in anticipation of tariffs, Q4 2024 and Feb year-to-date with >30% higher imports from Asian countries," and that the threat of retaliatory tariffs has started to affect its business in Canada and Europe.
For the first quarter, Whirlpool reported adjusted earnings per share (EPS) of $1.70 on revenue that sank 19% year-over-year to $3.62 billion. Visible Alpha polled analysts who projected $1.67 billion and $3.66billion respectively.
The Whirlpool stock rose by 3% just before the opening bell on Thursday. The shares had lost nearly one-third of their value by 2025.
