Whirlpool Corporation (NYSE: WHR) shares fell after the company reported quarterly and full-year results for 2025. At Tuesday’s market close, the stock traded around $83.47, down from the previous session, reflecting an intraday decline near 2%.
Whirlpool’s market capitalization was about $4.7 billion.
Fourth Quarter Results
For the fourth quarter ended December 31, 2025, Whirlpool reported consolidated net sales of $4.098 billion, down 0.9% from $4.136 billion in Q4 2024. GAAP net earnings available to Whirlpool were $108 million versus a net loss of $393 million in the year-ago quarter. Diluted GAAP earnings per share were $1.91 versus a loss of $7.10 a year earlier. Non-GAAP ongoing earnings per diluted share were $1.10, down from $4.57 in Q4 2024.
Annual 2025 Results
For the full year 2025, Whirlpool reported net sales of $15.524 billion, down 6.5% from $16.607 billion in 2024. GAAP net earnings available to Whirlpool were $318 million in 2025 versus a net loss of $323 million in 2024. GAAP earnings per diluted share for 2025 were $5.66 versus a loss of $5.87 in 2024. On an ongoing basis, Whirlpool reported earnings per diluted share of $6.23, down from $12.21 the prior year. The company’s GAAP net earnings margin was 2.2% for 2025 versus 1.9% in 2024.
Segment Results
In Q4 2025, the Major Domestic Appliances (MDA) North America segment reported net sales of $2.573 billion, slightly below the prior year, with EBIT declining. MDA Latin America posted $927 million in net sales, up modestly year-over-year. The Small Domestic Appliances (SDA) Global segment reported $423 million in net sales, up 10.3% with higher EBIT reflecting increased direct-to-consumer activity. Deconsolidation of Whirlpool India as of December 31, 2025, altered segment reporting, removing MDA Asia as a separate segment.
Full-Year Context
Annual net sales in 2025 trended lower versus 2024, reflecting slower demand in key markets and ongoing macro pressures. Despite the decline in top-line revenue, the company returned to GAAP profitability compared with a full-year loss in 2024. Organic net sales, excluding divested businesses, were nearly flat year-over-year.
Business and Operations Update
Whirlpool executed $200 million in structural cost take-out actions in 2025 to mitigate tariff and macro effects. The company also reduced its ownership stake in Whirlpool of India to approximately 40% and used proceeds to lower debt. Whirlpool announced it will continue debt reduction efforts in 2026, planning to pay down approximately $400 million of debt.
Dividend and Capital Allocation
In Q4, the company declared quarterly dividends of $0.90 per share. Net cash provided by operating activities declined in 2025 versus 2024 and free cash flow contracted significantly. Whirlpool’s capital allocation in recent periods prioritized debt reduction and dividend payments.
Guidance & Forward Considerations
For full-year 2026, Whirlpool issued company guidance projecting:
• Net sales of $15.3 billion to $15.6 billion.
• Ongoing EBIT margin expansion.
• GAAP earnings per diluted share of approximately $6.25
• Ongoing earnings per share near $7.00.
The outlook includes expected improvements in price/mix and continued product innovation. Whirlpool anticipates cash provided by operating activities of about $850 million and free cash flow of $400 million to $500 million for 2026 along with further debt reduction.
Market and Credit Context
External market factors such as tariff costs, competitive pressures, and broader appliance industry demand trends remain relevant considerations. Credit ratings agencies have noted weaker credit metrics in 2025, reflecting elevated leverage and slower margin improvement, which may influence financing conditions.