- July 22, 2021
- Posted by: Stratford Team
- Category: Business
Thrasher Analytics founder Andrew Thrasher and Spotlight Asset Group chief investment officer Shana Sissel reflect on state of the markets.
Whirlpool Corp. warned on Thursday that cost inflation will negatively impact its business by about $1 billion.
The Benton Harbor, Michigan-based home appliance manufacturer said raw material inflation, particularly in steel and resins, had an unfavorable impact of 400 basis points on margins in the three months through June.
Ticker Security Last Change Change %WHR WHIRLPOOL CORP. 214.68 -2.57 -1.18%
Inflation headwinds will persist in the back half of the year with “peak increases” materializing in the current quarter, CEO Marc Bitzer said during the company’s second-quarter earnings call.
Whirlpool earlier this year raised prices by as much as 12%, which has allowed the company to offset the higher costs.
Whirlpool on Wednesday evening reported earnings and revenue that exceeded Wall Street estimates….
