Whirlpool’s revenue fell 9.6% year over year to $3.27 billion
Whirlpool’s Q1 revenue came in at $3.27 billion, down 9.6% year over year, with the North America segment EBIT collapsing 96% to just $6 million.
The company’s CEO compared the current demand decline to the 2008 financial crisis.
Whirlpool responded to the decline with a double-digit price increase, its largest in over a decade, and suspended its common dividend to fund deleveraging.