Whirlpool Corp filed its 10-Q with the SEC, and its figures are now in our data. Revenue over the twelve months to Q3 2026 was $14.6 billion, which fell 6.4% on the year before. That growth rate was down 2.5 percentage points on the rate a quarter earlier.
Source: SEC EDGAR XBRL company facts. Latest period shown: FY26 Q3.
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| Period | Revenue growth, TTM YoY | Operating margin (TTM) | FCF margin (TTM) |
|---|---|---|---|
| FY24 Q4 | -14.6% | 0.9% | 2.3% |
| FY25 Q1 | -18.4% | 2.8% | 3.7% |
| FY25 Q2 | -16.1% | 3.3% | 1.6% |
| FY25 Q3 | -11.4% | 2.9% | 0.4% |
| FY25 Q4 | -6.5% | 5.4% | 0.5% |
| FY26 Q1 | -3.6% | 4.4% | -0.1% |
| FY26 Q2 | -3.9% | 4.2% | -1.2% |
| FY26 Q3 | -6.4% | 2.9% | -0.6% |
What stands out
Capital spending rose 8.0% while operating cash flow fell 28.4%, so less of the cash generated was left over.
Profit and margins
Profit has not followed the revenue. The trailing gross margin was 13.1%. The trailing operating margin was 2.9%, down 0.0 percentage points from a year earlier. At the same time, the trailing net margin was negative, at −0.8%. The company made a net loss of $123.0 million over the twelve months.
Where the cash went
Investment is rising faster than operating cash flow, squeezing what is left for shareholders. Operating cash flow over the twelve months was $313.0 million, down 28.4% on the year before. Capital spending was $405.0 million, or 2.8% of revenue. Meanwhile, free cash flow, operating cash flow less capital spending, was −$92.0 million. Free cash flow was −0.6% of revenue (the free-cash-flow margin), down 1.0 percentage points from a year earlier.
Shares outstanding
The average diluted share count rose 10.3% over the year.
Against its own history
Set against the company’s own record: today’s free-cash-flow margin of −0.6% is higher than 6% of the company’s own past quarterly readings, which have ranged from −1.4% to 11.3%. Today’s operating margin of 2.9% is higher than 15% of past readings (−7.6% to 11.9%). Today’s twelve-month revenue growth rate of −6.4% is higher than 19% of past readings (−18.4% to 15.6%).
Guidance
The company kept its full year 2026 guidance for net sales at $15.0 billion, for GAAP net earnings margin at 1%, and for ongoing (non-gaap) EBIT margin (adjusted) at 4%. The company gave its full year 2026 guidance for GAAP earnings per diluted share of $2.25 to $2.75.
Next to watch
The next filing will show whether the trends above continue, slow or reverse.
