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Whirlpool: lowered guidance for 2022

( - Whirlpool on Thursday night revised its guidance for the year 2022, now anticipating adjusted EPS (non-GAAP) in the range of $19, compared to a previous target range of $22 to $24.

The appliance maker reported third-quarter adjusted EPS down 33% to $4.49 and a non-GAAP EBIT margin of 5.5%, hurt by continued high cost inflation.

At nearly $4.8 billion, sales were down 12.8% (-9.7% excluding currency effects), impacted by lower volumes resulting from the slowdown in demand, partially offset by a favourable price/mix component.

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