![\"Whirlpool](\"https:\/\/www.europesays.com\/iran\/wp-content\/uploads\/2026\/05\/108303515-17781506221778150620-45766194614-1080pnbcnews.jpg\")
<\/p>\n<\/p>\n
Whirlpool<\/a> shares tumbled Thursday after the iconic appliance maker warned that the war in Iran triggered a severe downturn, underscoring how sharply higher fuel prices and collapsing consumer confidence are beginning to weigh on big-ticket purchases.<\/p>\n “War in Iran resulted in recession-level industry decline in the U.S. as consumer confidence collapsed in late February and March,” the company said in its earnings filing.<\/p>\n The comments marked one of the starkest corporate warnings yet about the economic fallout from the conflict and contrasted with more resilient spending trends<\/a> recently highlighted by companies tied to travel and services. <\/p>\n Shares of Whirlpool, maker of washers, dryers, dishwashers and other home appliances, dropped a whopping 20% in premarket trading. <\/p>\n CEO Marc Bitzer said Whirlpool moved quickly to cut costs and adjust pricing as macroeconomic conditions deteriorated.<\/p>\n “We acted decisively to address pricing and costs in the face of rapid deterioration in macroeconomic conditions,” Bitzer said in a statement. “Now, with Section 232 changes in favor of domestic manufacturers, Whirlpool Corporation is structurally positioned to win with our American-made products.”<\/p>\n The company also slashed its full-year earnings guidance roughly in half, cutting its forecast to a range of $3 to $3.50 a share from a prior outlook of about $6 a share. Whirlpool said it would also suspend its dividend as it prioritizes paying down debt.<\/p>\n Analysts at JPMorgan said the lower earnings outlook was driven by higher raw material inflation, a larger net tariff impact and weaker price and product mix benefits.<\/p>\n While companies such as Uber and Disney have reported little evidence<\/a> of consumers pulling back on travel, entertainment and convenience spending, the comments from the Maytag parent suggest strain may be emerging in bigger-ticket categories such as washers, dryers and kitchen appliances.<\/p>\n Consumer confidence, according to a University of Michigan survey, touched a record low<\/a> at one point in April as the Iran war spiked gasoline prices. The stock market has rebounded since mid-April on hope the U.S. and Iran could come to a deal that ends the fighting. U.S. oil prices are still above $90 a barrel, however, as traders wait to see if a peace proposal can be worked out.<\/p>\n