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BENTON HARBOR, Mich. - Whirlpool Corporation (NYSE:WHR), currently trading at $88.09, announced Monday the appointment of Mary Ellen Adcock to its board of directors, effective immediately. Adcock, who serves as executive vice president and chief merchant and marketing officer at The Kroger Co., will join the corporate governance and nominating committee and the audit committee. According to InvestingPro analysis, the company’s stock is currently trading near its Fair Value.
Adcock brings significant retail operations experience to the appliance manufacturer’s board. She was named to her current position at Kroger in November 2024 after holding various roles of increasing responsibility since joining the company in 1999. Her previous positions included senior vice president of retail operations and group vice president of retail operations.
"Mary Ellen’s extensive leadership experience and deep understanding of consumer products and merchandising make her an excellent addition to our board," said Marc Bitzer, chairman and CEO of Whirlpool Corporation, in a press release statement.
Adcock holds a business administration degree from Vanderbilt University and an MBA from the University of Colorado.
Whirlpool Corporation, the only major U.S.-based manufacturer of kitchen and laundry appliances, reported approximately $17 billion in annual sales in 2024, with nearly 90% generated in the Americas. The company operates 40 manufacturing and technology research centers and employs around 44,000 people globally.
The company’s brand portfolio includes Whirlpool, KitchenAid, JennAir, Maytag, Amana, Brastemp, Consul, and InSinkErator. While facing current challenges with gross profit margins of 16.31%, analysts expect net income growth this year, according to InvestingPro analysis.
In other recent news, Whirlpool Corporation reported a significant miss in its second-quarter earnings, with earnings per share (EPS) at $1.34, falling short of the anticipated $1.82. Revenue also did not meet expectations, coming in at $3.77 billion compared to the forecasted $3.9 billion. S&P Global Ratings revised its outlook on Whirlpool to negative, citing expectations of continued weak profitability and elevated leverage through 2025. The agency now forecasts Whirlpool’s adjusted leverage will remain around 5x by the end of fiscal 2025, higher than the previous estimate of 4.5x.
RBC Capital lowered its price target for Whirlpool to $63, maintaining an Underperform rating due to ongoing weaknesses in core operations and free cash flow. The firm also reduced its fiscal year 2025 and 2026 adjusted EBITDA estimates by 6% and 8%, respectively. Loop Capital has assumed coverage of Whirlpool with a Hold rating and a price target of $88, noting potential benefits from U.S. trade policies despite demand and mix headwinds. These developments reflect a challenging outlook for the company amid a backdrop of missed earnings and revised analyst expectations.
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