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SEC filingWhirlpool reported a $82M net loss for Q1 2026, driven by sharply lower volume amid deteriorating North America demand, deconsolidation of Whirlpool India, and unfavorable price/mix — pressures that cascaded across revenue, gross profit, and operating income.
Revenue for Q1 2026 was $3.3B, down 9.6% from $3.6B in Q1 2025. The decrease was primarily driven by lower volume, as the deteriorating macro environment and sharp decline in consumer sentiment severely impacted industry demand — particularly in North America — along with unfavorable price/mix and the deconsolidation of Whirlpool of India. Gross profit declined 31.6% to $415.0M, resulting in a gross margin of 12.7%. This reflects the same volume pressure, compounded by operational inefficiencies associated with inventory reduction efforts and negative price/mix. Net earnings margins were negatively impacted by these factors, as confirmed in management’s commentary on drivers of margin erosion.
Operating income decreased 90.2% to $18.0M. Per the business context, the 'Other/Eliminations' column includes corporate expenses, restructuring costs, asset impairment charges, and other items management considers not indicative of segment ongoing performance. These elements contributed meaningfully to the contraction in operating income. Net income was -$82.0M, compared to $71.0M in Q1 2025, and diluted EPS was -$1.43 versus $1.28 — a 211.7% decline — directly attributable to the net loss under GAAP.
Net cash used in operating activities was $827M, compared to $721M used in Q1 2025. This reflects both the earnings decline and working capital adjustments inherent in active inventory reduction. Capital expenditures totaled $68M, down slightly from $72M in Q1 2025. Free cash flow — defined as net cash provided by operating activities less capital expenditures — was -$895M. No debt repayments, equity issuances, or financing activities beyond those captured in the authoritative XBRL cash flow statement are supported by the financial packet.
Management continues to monitor significant global economic uncertainty to assess the outlook for demand and its impact on financial performance. This uncertainty underpins the observed demand deterioration and informs the company’s approach to cost management, inventory positioning, and capital allocation — all within the bounds of disclosed operational signals and business drivers.