Whirlpool Cuts Sales View, Reviews Europe Business
- Supply disruptions, economic pressures seen weighing on demand
- Company says war in Ukraine has affected strategy in Europe
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Whirlpool Corp. cut its full-year sales and earnings forecasts and announced a strategic review of its business in Europe, the Middle East and Africa.
The appliance maker now expects net sales growth between 2% and 3% this year, compared with its prior guidance of as much as 6%. Ongoing earnings per share, excluding some items, are now projected to be in the range of $24 to $26, down from a prior range of $27 to $29.