whirlpool expects to raise prices to counter higher costs - small appliance manufacturers
Whirlpool Corporation (WHR. N)
On Thursday, it said it expected costs associated with rising raw material costs and tariffs to be around $0. 3 billion and plans to deal with the situation by raising prices and withdrawing some losses
Do business. The U. S.
Home appliance manufacturers will withdraw from their domestic sales operations in Turkey and Hotpoint
The company said in a conference call that the company's branded small household appliance business in EMEA and its exploration of selling its South African business
Quarterly earnings report
The company said it expects steel prices for key raw materials in the home appliance industry to drop slightly in 2019.
Chief executive Marc Bitzer said demand in North America was healthy before the holiday. “We expect . . .
"The real estate market continues to recover, but the pace is likely to slow down, which will help ensure continued healthy demand for new appliances," Bitzer said . ". Several U. S.
Manufacturers including Caterpillar (CAT. N)
United Technology Corporation (UTX. N)
Honeywell International Limited (HON. N)
He said the costs associated with raising trade tariffs would put pressure on profit margins.
Whirlpool's quarterly profit on Wednesday exceeded Wall Street's expectations, thanks to Whirlpool's ability to cope with higher tariff costs by raising prices.
Shares of the company fell about 38% this year, up seven.
$ 2% to $111.
They registered their biggest single on Thursday --
Daily percentage growth over three years.