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Whirlpool CEO Marc Bitzer discusses the company's recent earnings, growth in replacement markets, and the impact of US politics on supply chains. They address rumors of a potential bid, the contrasting trends in appliance industry post-COVID, and potential growth in the US housing market.
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Quick takeaways
- Whirlpool sees growth in replacement market post-COVID, with over 60% of business from replacements.
- Company maintains revenue estimate despite consumer reluctance in big-ticket appliance purchases due to weakening housing market.
Deep dives
Whirlpool's Earnings Forecast and Market Trends
Whirlpool reported adjusted earnings per share of $12 for the year, down from their previous forecast of $13 to $15, attributing this to consumer reluctance in big-ticket appliance purchases due to a weakening housing market. Despite the lowered earnings projection, the company maintained its full-year revenue estimate at $16.9 billion. The chairman mentioned the challenges posed by the housing market's slow recovery and its impact on their margin expansion.
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Listen to the best highlights from the podcasts you love and dive into the full episode