Household Appliance Manufacturers NAICS 3352

May 27, 2026 - Whirlpool Cuts Dividend Amid Mounting Costs

• The Wall Street Journal reports that Whirlpool has suspended its dividend for the first time in decades due to a worsening cash crunch. Shares fell sharply, and the stock is down more than 80% over five years, reflecting shrinking cash flow, rising debt, and weak demand. The company is raising prices on washers, dryers, refrigerators, and stoves, outpacing competitors, to offset inflation and fund operations, a move that could pressure consumers and reshape pricing across the appliance sector. As foreign rivals expand US production, Whirlpool’s struggles highlight intensifying competition, cost pressures, and the need for investment, signaling broader challenges for the appliance industry.
• Home remodeling spending growth is expected to slow significantly early in 2027, according to the Leading Indicator of Remodeling Activity (LIRA) report released in May by the Joint Center for Housing Studies at Harvard. Homeowner spending on improvements and repairs is expected to increase 1.8% to $516 billion in the second quarter of 2026, compared to Q2 2025. In the third quarter of 2026, remodeling spending will trend slightly upward to $518 billion, up 2.4% from Q3 2025. Spending will then remain flat at $518 billion in Q4 2026, up 1.8% from Q4 2025. In the first quarter of 2027, year-over-year spending is forecast to rise just 0.5% to $523 billion. Remodeling permitting and building product sales have remained flat recently, but homeowners are expected to maintain spending near 2025 levels. Remodeling spending is likely to remain subdued, barring a turnaround in the construction sector.

• Single-family housing starts dropped by 9% month-over-month and decreased 2.4% year-over-year in April, according to the US Census Bureau. The number of building permits issued for single-family, privately-owned housing units fell 2.6% month-over-month and dropped 5.5% year-over-year in April 2026. Homebuilders have faced several headwinds, including tariffs that have increased the cost of key inputs like lumber and cabinets, and labor shortages, according to Reuters. Higher mortgage rates may also be weighing on demand for new single-family homes. The US war with Iran is pushing oil prices higher, along with US Treasury yields. Mortgage rates have moved higher as they are tied to the benchmark 10-year Treasury yield. As of May 21, 2026, the average rate for a 30-year fixed-rate mortgage was 6.51% compared to 5.98% when the war began. Single-family housing starts are a demand indicator for appliance manufacturers.
• Multifamily developer confidence was steady in the first quarter of 2026, according to the National Association of Home Builders’ (NAHB) latest Multifamily Market Survey. The Multifamily Production Index (MPI) was unchanged at 44 compared to the first quarter of 2024. The Multifamily Occupancy Index (MOI) decreased by 13 points to 69 over the same period. An MPI or MOI reading of 50 or more indicates that multifamily production or occupancy, respectively, is growing. Multifamily developers’ headwinds include volatility in building materials costs, high interest rates, and regulatory difficulties. While the NAHB expects a slight improvement in multifamily construction this year, the momentum is unlikely to carry into 2027. Multifamily construction helps drive demand for household appliances.