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BENTON HARBOR, Mich. - Whirlpool Corporation (NYSE:WHR), the $4.1 billion home appliance manufacturer, announced Wednesday a planned $300 million investment in its laundry manufacturing facilities in Clyde and Marion, Ohio. The investment is expected to create between 400 and 600 new jobs across both operations. According to InvestingPro data, this investment comes as analysts expect the company’s net income to grow this year, despite recent operational challenges.
The funding will support increased production of next-generation washers and dryers while indirectly supporting approximately 5,000 additional jobs outside the company, according to a press release statement.
Whirlpool’s Clyde facility, operating since 1952, is described as the world’s largest washing machine plant, while the Marion dryer factory recently marked its 70th anniversary in September.
"This $300 million investment in our Clyde and Marion facilities underscores our dedication to creating jobs, fostering innovation, and delivering high-quality, American-made appliances to U.S. consumers," said Marc Bitzer, chairman and CEO of Whirlpool Corporation. The announcement comes as Whirlpool’s stock trades near its 52-week low of $71, with InvestingPro analysis indicating the stock is currently undervalued. Get access to 6 more exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
The company reports that approximately 80% of its U.S. major appliance sales come from products made in its American factories, and 96% of the steel used in its U.S. plants is sourced domestically. With annual revenue of $15.5 billion and a gross profit margin of 16.3%, Whirlpool maintains its position as a significant player in the U.S. manufacturing sector.
The investment is part of Whirlpool’s broader strategy to grow its American manufacturing presence. The Michigan-based manufacturer, which began operations in 1911, maintains it has the largest U.S. manufacturing operations in the home appliance industry with 10 manufacturing plants employing over 14,000 workers.
Financial assistance from JobsOhio and tax credits from the State of Ohio will support the investment, which remains subject to final approval of the financial assistance. Notably, Whirlpool has maintained dividend payments for 55 consecutive years, demonstrating long-term financial stability despite current market challenges. For detailed insights into Whirlpool’s financial health and future prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Whirlpool Corporation reported its Q2 2025 earnings, highlighting stable financial performance despite a slight decline in net sales. The company’s ongoing earnings per share (EPS) stood at $1.34, which was impacted by a non-cash loss from BEKO Europe. Whirlpool has updated its full-year guidance, maintaining expectations for flat net sales and revising its EPS range to between $6 and $8. These developments offer insights into the company’s financial trajectory. There were no significant mergers or acquisitions announced. Analyst firms have not recently upgraded or downgraded Whirlpool’s stock. Investors will be closely watching how these factors influence the company’s future performance.
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