WHR Stock Tumbles Overnight After Q3 Miss, Outlook Cut: Wells Fargo Sees Few Bright Spots

Wells Fargo pointed to Whirlpool's weaker margins and slowing small-appliance growth.

Whirlpool's North American appliance revenue fell 8.3%, while operating profit dropped 44.7%.

Whirlpool now sees a 2026 adjusted loss of $1.30 per share, down from the initial $7 earnings estimate.

Whirlpool Corp. shares fell 8% in overnight trading heading into Tuesday after the appliance maker missed third-quarter estimates and cut its 2026 outlook for the third time this year, now expecting an annual loss.

Wells Fargo said margin shortfalls in North America and Latin America and weaker small-appliance growth left few bright spots.

Whirlpool stock fell 5% in regular trading on Monday, and the stock is on track for its worst year ever.

Wells Fargo Maintains Cautious View On Whirlpool

Wells Fargo kept its 'Equal Weight' rating and $30 price target on Whirlpool (which still implies a 13% upside from the stock's last close) following its Q3 results and revised forecast. The analyst said investors expected a difficult quarter, but the earnings shortfall was far worse. Weak profits in North America and Latin America, along with slower growth in small household appliances, fueled concerns about the company's recovery.

The Michigan-based manufacturer posted a net loss of $249 million in Q3, down from a $73 million profit a year earlier. Revenue fell 8.8% to $3.68 billion, and adjusted loss was $0.21 per share, both missing analysts' consensus estimates of $3.92 billion and earnings of $0.96 per share, respectively, according to Fiscal.ai.

Whirlpool's Margin Shrink and Outlook Cut

Whirlpool's major appliance business in North America reported an 8.3% revenue decline to $2.50 billion. Operating profit in the segment fell 44.7% to $74 million as softer demand weighed on results.

Latin American major appliance revenue increased 6.9% to $858 million, but operating profit dropped 61.3% to $18 million. The company cited product-mix changes following the bankruptcy reorganization of Brazilian retailer Grupo Casas Bahia as a factor affecting profits.

"Through disciplined working capital management, we are protecting our year end free cash flow and our balance sheet resilience to navigate challenging market conditions. As a result, we now expect net debt below $4.5B at the end of 2026 and have preserved a clear debt maturity ladder until 2028," said CFO Roxanne Warner.

Whirlpool now expects to lose $1.30 per share in 2026, compared with its January guidance of $7 in earnings per share.