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Bloomberg Businessweek
Whirlpool's Bitzer Sees Growth in Replacements
Jul 25, 2024
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.
09:30
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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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Discover
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