- Whirlpool Corporation (NYSE: WHR) reported Q1 net sales of $4.65 billion, down 5.5% Y/Y, beating the consensus of $4.50 billion.
- The revenue decreased Y/Y due to unfavorable product price/mix and demand slowdown.
- Net Sales in Regions: North America fell 1.6% Y/Y to $2.75 billion, Europe, Middle East, and Africa declined 18.0% Y/Y to $889 million, Latin America slipped 0.4% Y/Y to $757 million, and Asia declined 10.2% Y/Y to $256 million.
- The gross margin of 16.4% contracted by 90 basis points Y/Y.
- Operating profit declined significantly to …