Home appliances manufacturer Whirlpool (NYSE: WHR) missed Wall Street’s revenue expectations in Q2 CY2026, with sales falling 6.8% year on year to $3.52 billion. On the other hand, the company’s full-year revenue guidance of $15 billion at the midpoint came in 0.7% above analysts’ estimates. Its non-GAAP loss of $0.21 per share was significantly below analysts’ consensus estimates.

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Company Overview

Credited with introducing the first automatic washing machine, Whirlpool (NYSE: WHR) is a manufacturer of a variety of home appliances.

Revenue Growth

A company’s long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Whirlpool struggled to consistently generate demand over the last five years as its sales dropped at a 7.3% annual rate. This wasn’t a great result and is a sign of poor business quality.

Long-term growth is the most important, but within industrials, a half-decade historical view may miss new industry trends or demand cycles. Whirlpool’s recent performance shows its demand remained suppressed as its revenue has declined by 10.2% annually over the last two years.

This quarter, Whirlpool missed Wall Street’s estimates and reported a rather uninspiring 6.8% year-on-year revenue decline, generating $3.52 billion of revenue.

Looking ahead, sell-side analysts expect revenue to grow 2% over the next 12 months. Although this projection suggests its newer products and services will catalyze better top-line performance, it is still below the sector average.

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Operating Margin

Whirlpool was profitable over the last five years but held back by its large cost base. Its average operating margin of 2.4% was weak for an industrials business. This result isn’t too surprising given its low gross margin as a starting point.

Looking at the trend in its profitability, Whirlpool’s operating margin decreased by 1.4 percentage points over the last five years. Whirlpool’s performance was poor no matter how you look at it - it shows that costs were rising and it couldn’t pass them onto its customers.

This quarter, Whirlpool generated an operating margin profit margin of 4.6%, in line with the same quarter last year. This indicates the company’s cost structure has recently been stable.

Earnings Per Share

We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company’s growth is profitable.

Sadly for Whirlpool, its EPS declined by 38.4% annually over the last five years, more than its revenue. This tells us the company struggled because its fixed cost base made it difficult to adjust to shrinking demand.

Diving into the nuances of Whirlpool’s earnings can give us a better understanding of its performance. As we mentioned earlier, Whirlpool’s operating margin was flat this quarter but declined by 1.4 percentage points over the last five years. Its share count also grew by 2.7%, meaning the company not only became less efficient with its operating expenses but also diluted its shareholders.

Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business.

For Whirlpool, its two-year annual EPS declines of 57.6% show it’s continued to underperform. These results were bad no matter how you slice the data.

In Q2, Whirlpool reported adjusted EPS of negative $0.21, down from $1.34 in the same quarter last year. This print missed analysts’ estimates. Over the next 12 months, Wall Street expects Whirlpool’s full-year EPS to grow 34.5% from $2.42 to $3.25.

Key Takeaways from Whirlpool’s Q2 Results

We were impressed by Whirlpool’s optimistic full-year EPS guidance, which blew past analysts’ expectations. We were also glad its full-year revenue guidance slightly exceeded Wall Street’s estimates. On the other hand, its EPS missed and its revenue fell slightly short of Wall Street’s estimates. Overall, this quarter could have been better. The stock traded down 1.8% to $38.53 immediately following the results.

Is Whirlpool an attractive investment opportunity right now? What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here (it’s free).