Whirlpool’s CEO says the company is tackling inflationary challenges

Whirlpool is handling inflationary pressures and has seen supply shortages begin to ease, CEO Marc Bitzer told CNBC’s Jim Cramer about “Mad Money.”

“The inflation challenges are real, but I think we have been able to demonstrate that we can tackle them,” Bitzer said Monday. “Covid-induced inflation, I think we had a pretty good feeling and we coped very well. And we also thought we had a pretty good grip on inflation coming in this year.”[ads1];

Whirlpool missed Wall Street expectations for sales and earnings in the first quarter, according to Refinitiv. The company’s shares rose about 2% during extended trading after an initial fall.

Bitzer said Whirlpool is expanding capacity in the United States, but still expects supply shortages across the industry to persist for the rest of the year.

“I still believe in the future of American production going forward. We are not going to change our minds,” he said.

“Deficiencies will probably be around this industry throughout ’22. However, they are starting to decline. We are starting to see them decline so it gets better, but it has been two painful years, to be honest,” he added.

Register now for the CNBC Investing Club to follow Jim Cramers every move in the market.


Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Do you want to take a deep dive into Cramer’s world? Beat him up!
Crazy money TwitterJim Cramer on Twitter – Facebook – Instagram

Questions, Comments, Suggestions for the “Mad Money” Website?

Source link

Back to top button