Whirlpool Cuts Profit Outlook, Reports Loss From Sale of Russian Business

Whirlpool said it lost $371 million in the second quarter stemming from the appliance maker’s exit from its business in Russia and cut its profit outlook for the year.

Whirlpool is one of hundreds of companies from the U.S. and other Western countries that said this spring that they would stop doing business in Russia altogether or curtail operations following Russia’s invasion of Ukraine in late February. Others leaving Russia or planning to include McDonald’s Corp., Nike Inc. Cisco Systems Inc. and retailer Hennes & Mauritz AB.

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