Whirlpool Crashes After Iran Shock Sparks “Recession-Level” Appliance Slump Whirlpool shares crashed as much as 20% in premarket trading after the appliance maker slashed its full-year outlook and posted weaker-than-expected first-quarter results. Management directly blamed the three-month war in the Middle East for triggering a collapse in U.S. appliance demand. Whirlpool began the earnings release with this statement: “War in Iran resulted in a recession-level industry decline in the U.S. as consumer confidence collapsed in late February and March.” For the first quarter, the maker of refrigerators, freezers, dishwashers, ovens, ranges, cooktops, microwaves, and range hoods missed Bloomberg Consensus estimates… — Continue at ZeroHedge News : Read More
