Whirlpool stock dips premarket after sales warning and news to combine EMEA appliance business into new entity with Turkey’s Arçelik

Whirlpool Corp. WHR said Tuesday it expects a full-year 2022 loss of $1.535 billion, or $27.50 a share, after a profit of $1.783 billion, or $28.36 a share, in the year-earlier period. The appliance maker expects its adjusted per-share earnings to come to $19.25, ahead of the $19.03 FactSet consensus. It expects sales to total $19.7 billion, down 10% from $21.9 billion a year ago, and below the $19.9 billion FactSet consensus.

7 billion, down 10% from $21.9 billion a year ago, and below the $19.9 billion FactSet consensus. The quarter was hit by a “significantly one-off supply chain disruption,” mostly due to one critical supplier, which has since been resolved. The company offered the updated guidance as it announced the end of a strategic review of its EMEA business that resulted in an agreement to contribute its European major domestic appliance business into a newly formed entity with Turkey’s Arçelik A.

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