Whirlpool slashes outlook after steep Q1 sales drop

Whirlpool reported a 9.6% year-on-year drop in Q1 revenue to $3.27 billion, missing estimates and resulting in an adjusted EPS loss. The company has cut its full-year revenue and EPS forecasts due to weak consumer sentiment, high input costs, and aggressive pricing in the industry. Shares have fallen over 50% in the past year, leading Zacks to downgrade Whirlpool to a strong sell amid a bearish earnings outlook.