April 24, 2025 • 12 mins
Whirlpool Corp. maintained its full-year financial outlook despite uncertainly over global tariffs, saying their long-term impact will benefit its position in the US home-appliance market.
The refrigerator-maker still expects net sales of $15.8 billion, while ongoing earnings should be around $10 per share this year, it said in a statement. It also expects to cut more than $200 million of costs from its business.
Marc Bitzer, CEO of Whirlpool Corporation, discusses his company's quarterly earnings and path forward.
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Episode Transcript
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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, radio news. This is Bloomberg Business
Week with Carol Masser and Tim Steneveek on Bloomberg Radio.
Speaker 2 (00:14):
Whirlpool the company maintaining its full year financial outlook despite
uncertainty over global tariffs, saying their long term impact will
benefit its position in the US home appliance market. We
are so delighted to have back with us, Mark Bitzer.
He's the CEO of Worldpool Corporation. He joins us from
Michigan Market. It is great to have you here with
Tim and myself.
Speaker 3 (00:33):
How are you.
Speaker 4 (00:34):
I'm doing well well, Thanks for having me back.
Speaker 3 (00:36):
How is the environment well?
Speaker 5 (00:39):
You know, I mean, obviously we saw on our earnings
release where despite everything else going.
Speaker 4 (00:43):
On, we're pretty pleased with our Q one.
Speaker 5 (00:45):
I mean, we're basically I would consider our business largely
on track. We hit the EPs pretty much in line
of CONCERNSUS on organic revenues, we're up two percent almost
six percent margin, which puts us on track to a
folio guidance, and we're reconfirming guidance. So, I mean, obviously
it's not all euphoric, but give them everything else going on,
I think we should feel pretty good. About being on
(01:05):
track in the current environment.
Speaker 6 (01:07):
How would you describe the US consumer right now?
Speaker 5 (01:09):
Yeah, I mean, obviously it's been a lot of all
latility also a consumer side, and I think, if you
want to say so, we're probably a little bit the
cannery in the coal mine when it comes to consumer confidence.
And the reason why I'm saying this one, you know,
every day, you know, many companies.
Speaker 4 (01:23):
Have a big order pipeline.
Speaker 5 (01:24):
Our orders are pretty much seven days, so I see
it pretty fast if consumer orders something or not. And
we saw actually a very healthy consumer sentiment following the
election pretty much through January mid February, and then we
saw a clear deteriation of consumer confidence in particular particular
my discretionary side of demand. And I think that continued
(01:47):
to also in Q two. So we see right now
the consumer probably lacks confidence about the financial future and
holding back discretionary purchases.
Speaker 6 (01:54):
Why does that compare with your where consumers have been
during your tenure at Whirlpool, Because we've spoke you quite
a bit over the last few years, throughouts, through downs,
through relatively calm periods. How would you describe the consumer
right now relative to where the consumer has been during
your tenure.
Speaker 5 (02:10):
Yeah, TI twenty six years, so I don't have enough
time to go give you all the ups and but
is it.
Speaker 6 (02:16):
Better than that? Gives us a great view? Is it
better than the financial crisis? Better than the dot com bust?
Better than covid?
Speaker 4 (02:22):
You know, it's it's.
Speaker 5 (02:24):
How should I put from an economic perspective, it doesn't
not from a human perspective. From a economic perspective, I
think there's a lot of similarities to what we saw
in the early days of COVID. And what I'm saying
is one consumers, it just there's a you know, everyday
new messages which don't necessarily help consumer confidence. So from
a preer consumer confidence perspective, we just want to have
stability in the message. I think consumers can deal with
(02:47):
good or bad news. It's just the every day changing
news and the uncertainty, which neither helps business investors or consumers.
And I think so the drop that we've seen kind
of in the course of six weeks, yep, that was
probably among the biggest jobs I've seen. Now hopefully at
one point will also come back up again, but right now,
by drop was pretty fast and pretty drastic.
Speaker 2 (03:08):
So we love talking with you We've got through so
many cycles together, and I'm just thinking of those who
are watching and listening to Bloomberg Business Week on this Wednesday.
I am curious about your supply chain, Like we are
all getting a great lesson right in.
Speaker 3 (03:25):
Global trade global supply chains.
Speaker 2 (03:27):
Tell us about your supply chain and how the US
China or just the US terrorff trade war is potentially
impacting you or making you change it.
Speaker 5 (03:40):
First war, Trol, I want to give you credit, but
it took you two question free to raise a ward Terraff.
Speaker 3 (03:45):
I'm trying.
Speaker 5 (03:46):
I'm trying you, and obviously there's a lot of moving
parts of play. Ultimately comes back to we are kind
of the only and last American appliance company, and we
use eighty percent of what we sell the US in
the US, and of what we produce in US, more
than eighty percent of parts are sourced in the US,
(04:06):
So we are a domestic producer. I know a lot
of companies talk about reshoring or on shoring. We never
left Okay, and that's a big difference. So as such,
even more, we're also faced with some headwinds in particular components,
et cetera. Ultimately we will be a net winner because
we're a domestic producer and in this case this is
(04:26):
different from other industries.
Speaker 4 (04:28):
There's capacity.
Speaker 5 (04:29):
We have enough capacity, enough factories to fill them, and I.
Speaker 4 (04:33):
Appreciate other industries.
Speaker 5 (04:34):
You know, it may take some time, but I think
ultimately and we all don't know what the final final
picture of for tarifs is, but something will be there
and we do see us benefiting from this one.
Speaker 3 (04:46):
How do you want to see this trade war play out?
Speaker 2 (04:49):
Because I'm assuming that some of these tariffs help you domestically.
Speaker 5 (04:55):
Well, and again I think that probably needs a little
bit explanation, So Carol, actually we're we're not asking for exemptions.
We're not asking for text subsidies or gifts or handouts
or whatever there are right now in the pre existing
so called two thirty two and three or one tariffs,
there are loopholes which hurt us and they structurally benefit
Asian producers. And then it's put it in simple terms,
(05:18):
you know, because with two thirty two terrafs, I pay
in US for steel two or three times more than
Asia steel and any component which I can't get them US,
like an LED panel, I pay teriffs.
Speaker 4 (05:30):
So if the same product is produced.
Speaker 5 (05:31):
In Vietnam or Korea, they don't have to pay the
tariffs and steel they don't have to pay tariffs of components.
That difference is big. It's about seventy dollars per product.
To put that in retail price, that basically means one
hundred and fifty dollars different retail price. So all we
ask for is just close the loophole. We're all in
support of having a strong US based steel production. I
(05:51):
think it's we all agree it's important. Just close the loophole.
That's all we ask for. So we don't ask for
special treatment, Just close the loophole. Take the disadvantace such
a way. Again, I'm not looking for an unfair advantage.
We're just looking for a level playing field and then
when we can compete very well.
Speaker 3 (06:07):
So we're talking, of course with Mark Bitzer.
Speaker 2 (06:09):
He is chief executive officer at Whirlpool Corporation, joining us
from Michigan. One thing I want to ask you what
you have learned about manufacturing in the United States. Is
there a lesson or something a message you'd like to
share with other folks who are saying I can't manufacture
in the United States.
Speaker 5 (06:25):
You know, and again it's Carol, as you can probably
tell for my accent that dual citizen of American and German,
so to say sit here and saying I'm staying here
for patriotic reason, it's probably not credible. US production can
be working well well, And I really and I'm proud
of our ten strong factors in the US. And if
you go to a factory like in Clyde, OHI, where
(06:45):
you have three generational factor workers, visa proud people who
have worked very hard. So I know there's now a
lot of jokes about US manufacturing. You can produce in US,
and there's a very good skilled workforce which you can
have as long as we don't harm ourselves with kind
of you know, issues which make production more difficult in US,
like steep price and component costs. So I really, I
(07:09):
know some people are hesitating about moving back to US.
We have been producing the US for one hundred and
forteen years with success.
Speaker 6 (07:16):
So you know, I'm curious about since you already produced
here in the US, and you have eighty percent of
the production that goes to the US actually being made here,
plus you source a lot of the parts here, you're
relatively unaffected by tariffs. Would you say that the tariffs
that the Trump administration has proposed or is even putting
on have been a net benefit for your business.
Speaker 5 (07:38):
You know, it's again, so far there's more announcements than
already action in place. So so far what is in
place is for two forty two and the ten percent tariffs.
Speaker 4 (07:47):
But you know, I go back to and I know there's.
Speaker 5 (07:49):
A lot of talk about what the previous Trump administration did,
but two A one tariffs in twenty eighteen, because I
know there's a lot of talk about debate, race prize
or not. If you now today look back, these terrors
were put in place in twenty eighteen, and where we
are today.
Speaker 4 (08:04):
Washer prices today are lower than mever in two or fourteen.
Speaker 5 (08:07):
So tell me one product category which has lower prices
been two or fourteen and compared to twenty eighteen, there's
two more factories.
Speaker 4 (08:14):
Producing washes in US.
Speaker 5 (08:15):
So from that perspective, but the prior Trump administration did
actually in our industry worked.
Speaker 4 (08:20):
It brought new production and the prices did not raise.
Speaker 5 (08:23):
Now there's always some moving parts as you go through
this one, but it worked. Now that may be different
in other industries, but I think, I know ironestry pretty well.
You add production capacity to ultimately build benefit for consumer.
Speaker 6 (08:36):
Does the risk though, of declining US consumer sentiment as
a result of rising prices in other categories and concerns
about uncertainty moving forward, does that weigh to a greater
extent than the benefit that you get from tariffs as
a US producer of products.
Speaker 5 (08:54):
Yeah, I mean I think it's a fair question. Of course,
in the short term there will be called wobbliness along
the way. But I think, as I mentioned earlier, consumer
confidence can drop fast, but it can also increase pretty fast.
We've seen that in Q four, So I would say,
you know, what I describe on a structural capacity is
are long term effects. I mean, you don't build factories
on wheels, but you build them for thular fifty years. Yeah,
(09:17):
consumer confidence moves within a quarter. So I think even
though there may be some volatility and consumer confidence, I
think the long term benefits will clearly out the negative
short term consumer sentiment mark.
Speaker 3 (09:28):
You definitely have a global perspective.
Speaker 2 (09:30):
I think there's some concerns though that the longer this
trade back and forth, especially between the United States and China,
but really between the US and the world that there
will be long term damage.
Speaker 3 (09:39):
How do you see it?
Speaker 5 (09:42):
Well, you know it's again I can speak more for
my industry. I think ultimately what the current administration is
trying to do in our industry I support, of course,
because we're a US producer. I think the most important
thing in that it is not only for our innesty.
People just want to have predictability. Okay, if you have
pretty much every day changing problem definition, that just makes
it hard because you don't plan industrial production. You don't
(10:05):
make industrial decisions if you don't know if that assumption
is true tomorrow. So I think everybody will deal with
whatever it is if I know this is now, that's
a picture and it's going to be stable and people
can count on this one. So I think it's more
stability and predictability more than anything else, which I would
be hoping for.
Speaker 6 (10:24):
You mentioned that much of the sourcing that you do
for the US based production is actually domestic sourcing. Still,
I imagine there are components that are made outside of
the US. Do you anticipate any supply chain issues as
a result of what we've seen happening.
Speaker 4 (10:40):
Yeah, and it's a little bit.
Speaker 5 (10:42):
And part of that is today our disadvantage because there are,
as you point out, some components I can't buy in
you as like an LED panel for washer, that kind
of stuff. So today we have to pay terffs, while
anybody producing Thailand Vietnam doesn't have to pay teriffs. I
think over time, I would expect that for the investment
majority of these components over time where will be supply
(11:04):
based ibor in US or Mexico. And we see already
some early indications it will take its time, in particular
in the electronic side more than anything else, but more
of a mechanic parts like motors, etc.
Speaker 4 (11:15):
I think it will be quickly resolved.
Speaker 3 (11:17):
All right, I just want to know.
Speaker 2 (11:18):
Have you created a dishwasher that my husband I don't
have to like argue over who's going to load it
and unloaded?
Speaker 3 (11:23):
I just want to know, how do you have one
like that, a robotic one that actually unloads and unloads.
Have we gotten there?
Speaker 4 (11:29):
Yeah, well, if you have a patent, let me know
and we can hire you as an engineer.
Speaker 5 (11:33):
You know, first of all, I pride ourselves we have
the best dish washer with the biggest capacity in the industry. Unfortunately,
it doesn't load itself. I feel the same pain every
day at home. Not every day, at least I'm accused
of that every day.
Speaker 3 (11:49):
Hey, listen, one last question. Do we have to be
worried about global recession? Is that anything that's on your radar?
Speaker 4 (11:55):
Just real quickly?
Speaker 5 (11:57):
I mean again, that's why I said, Carol Earl is
a little bit economically to set back to earlier days
of COVID and whatever else. It's just an uncertain outcome.
I think right now the odds of a recession have increased.
I'm not quite sure we're all the way there. It
depends a lot what happens the next two three weeks
weeks in terms of business predictability. But I think we're
(12:19):
living with an uncertain outcome, and that's what our job
is to manage towards that.
Speaker 2 (12:22):
All right, Well, when I get that design for that
dishwasher that loads and unloads itself, I'll let you know.
Speaker 3 (12:26):
Mark Bitzer b Well, CEO were Pool Corporation,
Bloomberg Audio Studios, Podcasts, radio news. This is Bloomberg Business
Week with Carol Masser and Tim Steneveek on Bloomberg Radio.
Speaker 2 (00:14):
Whirlpool the company maintaining its full year financial outlook despite
uncertainty over global tariffs, saying their long term impact will
benefit its position in the US home appliance market. We
are so delighted to have back with us, Mark Bitzer.
He's the CEO of Worldpool Corporation. He joins us from
Michigan Market. It is great to have you here with
Tim and myself.
Speaker 3 (00:33):
How are you.
Speaker 4 (00:34):
I'm doing well well, Thanks for having me back.
Speaker 3 (00:36):
How is the environment well?
Speaker 5 (00:39):
You know, I mean, obviously we saw on our earnings
release where despite everything else going.
Speaker 4 (00:43):
On, we're pretty pleased with our Q one.
Speaker 5 (00:45):
I mean, we're basically I would consider our business largely
on track. We hit the EPs pretty much in line
of CONCERNSUS on organic revenues, we're up two percent almost
six percent margin, which puts us on track to a
folio guidance, and we're reconfirming guidance. So, I mean, obviously
it's not all euphoric, but give them everything else going on,
I think we should feel pretty good. About being on
(01:05):
track in the current environment.
Speaker 6 (01:07):
How would you describe the US consumer right now?
Speaker 5 (01:09):
Yeah, I mean, obviously it's been a lot of all
latility also a consumer side, and I think, if you
want to say so, we're probably a little bit the
cannery in the coal mine when it comes to consumer confidence.
And the reason why I'm saying this one, you know,
every day, you know, many companies.
Speaker 4 (01:23):
Have a big order pipeline.
Speaker 5 (01:24):
Our orders are pretty much seven days, so I see
it pretty fast if consumer orders something or not. And
we saw actually a very healthy consumer sentiment following the
election pretty much through January mid February, and then we
saw a clear deteriation of consumer confidence in particular particular
my discretionary side of demand. And I think that continued
(01:47):
to also in Q two. So we see right now
the consumer probably lacks confidence about the financial future and
holding back discretionary purchases.
Speaker 6 (01:54):
Why does that compare with your where consumers have been
during your tenure at Whirlpool, Because we've spoke you quite
a bit over the last few years, throughouts, through downs,
through relatively calm periods. How would you describe the consumer
right now relative to where the consumer has been during
your tenure.
Speaker 5 (02:10):
Yeah, TI twenty six years, so I don't have enough
time to go give you all the ups and but
is it.
Speaker 6 (02:16):
Better than that? Gives us a great view? Is it
better than the financial crisis? Better than the dot com bust?
Better than covid?
Speaker 4 (02:22):
You know, it's it's.
Speaker 5 (02:24):
How should I put from an economic perspective, it doesn't
not from a human perspective. From a economic perspective, I
think there's a lot of similarities to what we saw
in the early days of COVID. And what I'm saying
is one consumers, it just there's a you know, everyday
new messages which don't necessarily help consumer confidence. So from
a preer consumer confidence perspective, we just want to have
stability in the message. I think consumers can deal with
(02:47):
good or bad news. It's just the every day changing
news and the uncertainty, which neither helps business investors or consumers.
And I think so the drop that we've seen kind
of in the course of six weeks, yep, that was
probably among the biggest jobs I've seen. Now hopefully at
one point will also come back up again, but right now,
by drop was pretty fast and pretty drastic.
Speaker 2 (03:08):
So we love talking with you We've got through so
many cycles together, and I'm just thinking of those who
are watching and listening to Bloomberg Business Week on this Wednesday.
I am curious about your supply chain, Like we are
all getting a great lesson right in.
Speaker 3 (03:25):
Global trade global supply chains.
Speaker 2 (03:27):
Tell us about your supply chain and how the US
China or just the US terrorff trade war is potentially
impacting you or making you change it.
Speaker 5 (03:40):
First war, Trol, I want to give you credit, but
it took you two question free to raise a ward Terraff.
Speaker 3 (03:45):
I'm trying.
Speaker 5 (03:46):
I'm trying you, and obviously there's a lot of moving
parts of play. Ultimately comes back to we are kind
of the only and last American appliance company, and we
use eighty percent of what we sell the US in
the US, and of what we produce in US, more
than eighty percent of parts are sourced in the US,
(04:06):
So we are a domestic producer. I know a lot
of companies talk about reshoring or on shoring. We never
left Okay, and that's a big difference. So as such,
even more, we're also faced with some headwinds in particular components,
et cetera. Ultimately we will be a net winner because
we're a domestic producer and in this case this is
(04:26):
different from other industries.
Speaker 4 (04:28):
There's capacity.
Speaker 5 (04:29):
We have enough capacity, enough factories to fill them, and I.
Speaker 4 (04:33):
Appreciate other industries.
Speaker 5 (04:34):
You know, it may take some time, but I think
ultimately and we all don't know what the final final
picture of for tarifs is, but something will be there
and we do see us benefiting from this one.
Speaker 3 (04:46):
How do you want to see this trade war play out?
Speaker 2 (04:49):
Because I'm assuming that some of these tariffs help you domestically.
Speaker 5 (04:55):
Well, and again I think that probably needs a little
bit explanation, So Carol, actually we're we're not asking for exemptions.
We're not asking for text subsidies or gifts or handouts
or whatever there are right now in the pre existing
so called two thirty two and three or one tariffs,
there are loopholes which hurt us and they structurally benefit
Asian producers. And then it's put it in simple terms,
(05:18):
you know, because with two thirty two terrafs, I pay
in US for steel two or three times more than
Asia steel and any component which I can't get them US,
like an LED panel, I pay teriffs.
Speaker 4 (05:30):
So if the same product is produced.
Speaker 5 (05:31):
In Vietnam or Korea, they don't have to pay the
tariffs and steel they don't have to pay tariffs of components.
That difference is big. It's about seventy dollars per product.
To put that in retail price, that basically means one
hundred and fifty dollars different retail price. So all we
ask for is just close the loophole. We're all in
support of having a strong US based steel production. I
(05:51):
think it's we all agree it's important. Just close the loophole.
That's all we ask for. So we don't ask for
special treatment, Just close the loophole. Take the disadvantace such
a way. Again, I'm not looking for an unfair advantage.
We're just looking for a level playing field and then
when we can compete very well.
Speaker 3 (06:07):
So we're talking, of course with Mark Bitzer.
Speaker 2 (06:09):
He is chief executive officer at Whirlpool Corporation, joining us
from Michigan. One thing I want to ask you what
you have learned about manufacturing in the United States. Is
there a lesson or something a message you'd like to
share with other folks who are saying I can't manufacture
in the United States.
Speaker 5 (06:25):
You know, and again it's Carol, as you can probably
tell for my accent that dual citizen of American and German,
so to say sit here and saying I'm staying here
for patriotic reason, it's probably not credible. US production can
be working well well, And I really and I'm proud
of our ten strong factors in the US. And if
you go to a factory like in Clyde, OHI, where
(06:45):
you have three generational factor workers, visa proud people who
have worked very hard. So I know there's now a
lot of jokes about US manufacturing. You can produce in US,
and there's a very good skilled workforce which you can
have as long as we don't harm ourselves with kind
of you know, issues which make production more difficult in US,
like steep price and component costs. So I really, I
(07:09):
know some people are hesitating about moving back to US.
We have been producing the US for one hundred and
forteen years with success.
Speaker 6 (07:16):
So you know, I'm curious about since you already produced
here in the US, and you have eighty percent of
the production that goes to the US actually being made here,
plus you source a lot of the parts here, you're
relatively unaffected by tariffs. Would you say that the tariffs
that the Trump administration has proposed or is even putting
on have been a net benefit for your business.
Speaker 5 (07:38):
You know, it's again, so far there's more announcements than
already action in place. So so far what is in
place is for two forty two and the ten percent tariffs.
Speaker 4 (07:47):
But you know, I go back to and I know there's.
Speaker 5 (07:49):
A lot of talk about what the previous Trump administration did,
but two A one tariffs in twenty eighteen, because I
know there's a lot of talk about debate, race prize
or not. If you now today look back, these terrors
were put in place in twenty eighteen, and where we
are today.
Speaker 4 (08:04):
Washer prices today are lower than mever in two or fourteen.
Speaker 5 (08:07):
So tell me one product category which has lower prices
been two or fourteen and compared to twenty eighteen, there's
two more factories.
Speaker 4 (08:14):
Producing washes in US.
Speaker 5 (08:15):
So from that perspective, but the prior Trump administration did
actually in our industry worked.
Speaker 4 (08:20):
It brought new production and the prices did not raise.
Speaker 5 (08:23):
Now there's always some moving parts as you go through
this one, but it worked. Now that may be different
in other industries, but I think, I know ironestry pretty well.
You add production capacity to ultimately build benefit for consumer.
Speaker 6 (08:36):
Does the risk though, of declining US consumer sentiment as
a result of rising prices in other categories and concerns
about uncertainty moving forward, does that weigh to a greater
extent than the benefit that you get from tariffs as
a US producer of products.
Speaker 5 (08:54):
Yeah, I mean I think it's a fair question. Of course,
in the short term there will be called wobbliness along
the way. But I think, as I mentioned earlier, consumer
confidence can drop fast, but it can also increase pretty fast.
We've seen that in Q four, So I would say,
you know, what I describe on a structural capacity is
are long term effects. I mean, you don't build factories
on wheels, but you build them for thular fifty years. Yeah,
(09:17):
consumer confidence moves within a quarter. So I think even
though there may be some volatility and consumer confidence, I
think the long term benefits will clearly out the negative
short term consumer sentiment mark.
Speaker 3 (09:28):
You definitely have a global perspective.
Speaker 2 (09:30):
I think there's some concerns though that the longer this
trade back and forth, especially between the United States and China,
but really between the US and the world that there
will be long term damage.
Speaker 3 (09:39):
How do you see it?
Speaker 5 (09:42):
Well, you know it's again I can speak more for
my industry. I think ultimately what the current administration is
trying to do in our industry I support, of course,
because we're a US producer. I think the most important
thing in that it is not only for our innesty.
People just want to have predictability. Okay, if you have
pretty much every day changing problem definition, that just makes
it hard because you don't plan industrial production. You don't
(10:05):
make industrial decisions if you don't know if that assumption
is true tomorrow. So I think everybody will deal with
whatever it is if I know this is now, that's
a picture and it's going to be stable and people
can count on this one. So I think it's more
stability and predictability more than anything else, which I would
be hoping for.
Speaker 6 (10:24):
You mentioned that much of the sourcing that you do
for the US based production is actually domestic sourcing. Still,
I imagine there are components that are made outside of
the US. Do you anticipate any supply chain issues as
a result of what we've seen happening.
Speaker 4 (10:40):
Yeah, and it's a little bit.
Speaker 5 (10:42):
And part of that is today our disadvantage because there are,
as you point out, some components I can't buy in
you as like an LED panel for washer, that kind
of stuff. So today we have to pay terffs, while
anybody producing Thailand Vietnam doesn't have to pay teriffs. I
think over time, I would expect that for the investment
majority of these components over time where will be supply
(11:04):
based ibor in US or Mexico. And we see already
some early indications it will take its time, in particular
in the electronic side more than anything else, but more
of a mechanic parts like motors, etc.
Speaker 4 (11:15):
I think it will be quickly resolved.
Speaker 3 (11:17):
All right, I just want to know.
Speaker 2 (11:18):
Have you created a dishwasher that my husband I don't
have to like argue over who's going to load it
and unloaded?
Speaker 3 (11:23):
I just want to know, how do you have one
like that, a robotic one that actually unloads and unloads.
Have we gotten there?
Speaker 4 (11:29):
Yeah, well, if you have a patent, let me know
and we can hire you as an engineer.
Speaker 5 (11:33):
You know, first of all, I pride ourselves we have
the best dish washer with the biggest capacity in the industry. Unfortunately,
it doesn't load itself. I feel the same pain every
day at home. Not every day, at least I'm accused
of that every day.
Speaker 3 (11:49):
Hey, listen, one last question. Do we have to be
worried about global recession? Is that anything that's on your radar?
Speaker 4 (11:55):
Just real quickly?
Speaker 5 (11:57):
I mean again, that's why I said, Carol Earl is
a little bit economically to set back to earlier days
of COVID and whatever else. It's just an uncertain outcome.
I think right now the odds of a recession have increased.
I'm not quite sure we're all the way there. It
depends a lot what happens the next two three weeks
weeks in terms of business predictability. But I think we're
(12:19):
living with an uncertain outcome, and that's what our job
is to manage towards that.
Speaker 2 (12:22):
All right, Well, when I get that design for that
dishwasher that loads and unloads itself, I'll let you know.
Speaker 3 (12:26):
Mark Bitzer b Well, CEO were Pool Corporation,
Hosts And Creators
Tim Stenovec
Carol Massar
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