Whirlpool Stock Plunges on Forecast Cut, Dividend Suspension Blamed on Iran War
Whirlpool's shares plummeted significantly following the company's revision of its financial outlook and the suspension of its dividend, a move linked to the war in Iran. According to CFO Roxanne Warner, the demand for appliances has reached its lowest point since the financial crisis of 2008, as the ongoing conflict has severely undermined consumer confidence.
Key facts
- Whirlpool stock plunged after slashing its forecast and suspending its dividend.
- The company blamed the Iran war for the weak demand.
- CFO Roxanne Warner said appliance demand is at its weakest since the 2008 financial crisis.
- The conflict drove consumer confidence to collapse.
- The source is Quartz (qz.com).
Entities
Institutions
- Whirlpool
- Quartz
Sources
- Quartz —