Whirlpool (WHR) investor relations material

Executive summary

• Q3 net sales fell 8.8% YoY to $3.677B; common-shareholder net loss was $249M, or $(3.80) per diluted share.

• Ongoing EBIT margin was 2.6%, up 80 bps sequentially but down 1.8 pts YoY; ongoing EPS was $(0.21).

• Weak North American demand, tariffs, inflation, a $124M India investment impairment and $54M in Casas Bahia-related charges pressured results; pricing and structural cost actions supported sequential progress.

Financial highlights

• Q3 gross margin was $473M, or 12.9% of sales, versus $594M and 14.7% YoY; operating profit was $4M versus $206M.

• Q3 ongoing EBIT was $97M, down 46.1% YoY; ongoing diluted EPS was $(0.21), versus $2.09.

• Q3 free cash flow was $(1.1)B, affected by the timing of Casas Bahia insurance recovery; 9M free cash flow was $(1.081)B versus $(907)M.

• Nine-month net sales declined 8.4% to $10.467B; net loss available to common shareholders was $260M versus net income of $210M in 9M 2025.

Outlook and guidance

• FY2026 sales guidance is ~$14.5B, down ~1.5% like-for-like; ongoing EBIT margin is 2.0%-2.2%.

• FY2026 ongoing diluted EPS guidance is $(1.30); GAAP diluted EPS guidance is $(4.95).

• FY2026 operating cash flow is expected at ~$700M and free cash flow at ~$300M, or ~2% of sales; year-end net debt is expected below $4.5B.

• FY2026 capex is expected at ~$400M; restructuring charges are projected at ~$170M, with a significant portion expected to be non-cash.

• Q4 ongoing EBIT margin is projected at 2.2%; guidance assumes a GAAP tax rate of ~8% and an adjusted tax rate of ~25%.