Whirlpool Sales Dip

Whirlpool Corporation posted mixed second-quarter 2022 results as earnings beat the estimate, while the top line missed the same. Both metrics declined year over year. Results were hurt by the ongoing challenging environment, rising costs, and sluggish demand. Its net sales of $5,097 million dropped 4.3 per cent from the year-ago quarter. Supply-chain disruptions and weak demand hurt sales, but were partly offset by a favourable product price/mix. The gross profit for second-quarter 2022 was $897 million, down 17.7 per cent from $1,090 million reported in the year-ago quarter.