“Shortages will be around this industry probably for the entire ’22. However, they start easing,” the Whirlpool CEO said Monday.
Whirlpool missed Wall Street expectations on first-quarter sales and earnings, according to Refinitiv. Shares of the company rose about 2% during extended trading following an initial dip.
Bitzer said that Whirlpool is expanding capacity in the U.S but still expects industry-wide supply shortages to last through the rest of the year. "I still believe in the future of American manufacturing going forward. We're not going to change our mind," he said.
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