Whirlpool reported a weaker third quarter as revenue fell nearly 9% to $3.68 billion, below the $3.91 billion estimate, and posted an adjusted loss of $0.21 per share against an expected adjusted EPS of $0.76 per Bloomberg consensus data. CFO Roxanne Warner said the environment has become more inflationary since Q2 and that softer North American demand is causing volume deleveraging, adding that the industry has not yet fully absorbed inflation pressures from 2022, with inflation up 12% since then. Major appliance revenue in North America fell 8.3% year over year to $2.5 billion, while the small domestic appliance business fell almost 1% to $286 million, both below expectations. The company plans its third price increase this year, 7% in the fourth quarter, following a record 10% increase in April and a 4% list price rise in July. Some items sold out in the quarter, and US orders in October rose roughly 40% year over year.
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