09:43 AM EDT, 05/07/2026 (MT Newswires) -- Whirlpool (WHR) shares fell as much as 18% in recent early trading Thursday after the appliance maker warned that the war in Iran has triggered a "recession-level industry decline."

"War in Iran resulted in recession-level industry decline in the US as consumer confidence collapsed in late February and March,"the company said in its earnings release after the market closed on Wednesday.

Whirlpool reported a Q1 adjusted loss of $0.56 per diluted share, swinging from adjusted earnings of $1.70 a year earlier. Analysts polled by FactSet expected $0.38.

Revenue for the three months ended March 31 was $3.27 billion, down from $3.62 billion a year earlier. Analysts surveyed by FactSet expected $3.44 billion.

For fiscal 2026, Whirlpool now expects adjusted EPS of $3 to $3.50. That compares with its previous guidance of $7, provided in January. Analysts polled by FactSet expect $4.83.

Revenue for the year is now projected to be about $15 billion, the company said. That compares with its prior guidance range of $15.30 billion to $15.60 billion. Analysts surveyed by FactSet expect $15.26 billion.