Raymond James reiterates Market Perform on Whirlpool stock amid weak industry data

Raymond James maintains a "Market Perform" rating for Whirlpool Corporation (WHR) amid ongoing challenges in the North American appliance sector. The stock has experienced a 54.6% decline over the past year, currently trading at $40.70 with a market capitalization of $2.66 billion. Federal Reserve data from July revealed a 5.6% YoY decline in appliance industry production, with no improvement from the 6% decline in the first half of the year, as per daily AHAM data.

This decline marked the third lowest level in 2026 and fell below many 2025 levels. Whirlpool's major appliance producer price index remained stagnant sequentially and decreased 0.4% YoY, although the two-year stack improvement of 40 basis points was more favorable than June. In April, Whirlpool introduced promotion-related price increases, followed by a 4% list price increase in July.

The firm projects July shipments at approximately 133,000 units, which would represent the lowest level in 2026 and drop below most 2025 levels. Analysts estimate Whirlpool's adjusted earnings per share for Q3 2026 at $0.89, assuming flat year-over-year sales with a 3% decline in volumes. Consensus estimates stand at $1.12 for third-quarter earnings, with sales also expected to remain flat YoY.

Five analysts have revised their earnings downwards for the upcoming period, with Whirlpool's gross profit margin at 13.6% reflecting ongoing price pressures. Investors should refer to Whirlpool's Pro Research Report for more detailed insights. Recently, Whirlpool reported a wider-than-expected loss for Q2 2026, with adjusted earnings of -$0.21 per share, missing analysts' estimate of +$0.08.

Revenue also fell short of forecasts, at $3.52 billion versus the expected $3.56 billion. Despite these misses, Whirlpool's shares increased in premarket trading due to liquidity measures, reaffirmed full-year outlook, and signs of improving margins.