Whirlpool (NYSE:WHR) Q4 2025 Earnings call January 29, 2026 08:00 AM ET Company ParticipantsCharles Perron - VP of Equity ResearchEric Bosshard - CEO and FounderJuan Carlos Puente - EVP of North America and Global Strategic SourcingLudovic Beaufils - EVP of MDA Latin America and KitchenAid Small AppliancesMarc Bitzer - Chairman and CEOMike Dahl - Managing DirectorRoxanne Warner - CFOSam Darkatsh - Managing Director of Equity ResearchScott Cartwright - Head of Investor RelationsConference Call ParticipantsAn ...

Whirlpool (NYSE:WHR) Q4 2025 Earnings call January 29, 2026 08:00 AM ET Company ParticipantsCharles Perron - VP of Equity ResearchEric Bosshard - CEO and FounderJuan Carlos Puente - EVP of North America and Global Strategic SourcingLudovic Beaufils - EVP of MDA Latin America and KitchenAid Small AppliancesMarc Bitzer - Chairman and CEOMike Dahl - Managing DirectorRoxanne Warner - CFOSam Darkatsh - Managing Director of Equity ResearchScott Cartwright - Head of Investor RelationsConference Call ParticipantsAn ...

Core Viewpoint - Morgan Stanley strategists believe that recent aggressive policy measures from the White House will not significantly change the housing market landscape for prospective homebuyers by 2026 [1][2] Policy Measures - The administration's strategy includes a directive for Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities, which initially tightened mortgage spreads by 15 basis points, lowering the 30-year mortgage rate below 6% for the first time since 2022 [3][4] Market Reaction - Despite the positive market reaction, Morgan Stanley argues that the market has already priced in the effects of Trump's intervention, and the existing low-rate mortgages limit the effectiveness of the new policy [4][15] Lock-in Effect - The "lock-in" effect is a significant barrier to housing market recovery, with approximately two-thirds of outstanding mortgages having interest rates below 5%. Additionally, 40% of U.S. homes are mortgage-free, exacerbating the lock-in situation [5][8] Demographic Trends - The aging population and lower birth rates are contributing to a slowdown in overall population growth, with the number of families with children under 18 declining from around 37 million in 2007 to approximately 33 million in 2024 [12] Housing Supply and Demand - Current home buying conditions are unfavorable due to high home prices, high mortgage rates, and declining immigration. The lock-in effect is causing existing homeowners to hesitate in selling, while new housing supply is rising, leading to downward pressure on home prices [17] Institutional Investors - Morgan Stanley dismisses the potential impact of a ban on large institutional investors purchasing single-family homes, stating that these investors do not own enough homes to significantly influence the market [17][18] Affordability Challenges - The affordability crisis is attributed to years of policy failures rather than institutional ownership. Solutions to improve affordability would require significant changes in home prices, interest rates, or buyer incomes [18] Future Outlook - Morgan Stanley suggests that further government actions could lower mortgage rates by an additional 50 basis points, but returning to the 4% range would require broader changes beyond GSE actions [20] Inventory Dynamics - New housing inventory is at its highest level since 2007, leading to lower prices for new homes compared to existing ones. Policymakers face challenges in balancing affordability with the exposure of 65% of U.S. households to housing prices as an asset [21]

You might expect the country’s hottest housing market to be somewhere balmy — perhaps Florida or the Carolinas. But it’s actually Irondequoit, New York, a suburb of Rochester that’s home to about 50,000 people. A report published Dec. 23 by Redfin found that Irondequoit is the most competitive housing market in the U.S., with homes in this lakeside town typically selling in just 8.5 days for well over asking price (1). That price — just under $250,000 — is also appealing to buyers. Must Read Nationwid ...

Group 1 - The core viewpoint of the article discusses the recent changes in the real estate market, highlighting a shift in policies and market dynamics that may influence buying decisions [1] Group 2 - The first change noted is a subtle "easing" of policies, with a notable adjustment in the "luxury tax" threshold from 5 million to 8 million in some cities, reducing tax burdens for buyers [3] - Additionally, mortgage rates have decreased by nearly 1 percentage point for first-time homebuyers, indicating a supportive policy shift aimed at lowering barriers to home purchases [3] Group 3 - The second change observed is that developers have become "low-key," with a significant reduction in new construction activity, as evidenced by a decline in new construction area over several quarters [4][6] Group 4 - The third change is the revitalization of the second-hand housing market, with increased activity in real estate agencies and a shift in buyer focus from purely investment to living attributes [7] Group 5 - The fourth change involves a "repair" in public expectations regarding the housing market, with a noticeable shift from extreme pessimism to more rational discussions about property values and potential purchases [9] Group 6 - It is important to note that these changes vary by city, with first-tier and strong second-tier cities experiencing the most significant shifts due to ongoing population inflow and job opportunities [10] Group 7 - For first-time buyers, current conditions are described as the most favorable in recent years, with low interest rates, reduced taxes, and a positive attitude from developers [11] - For those looking to upgrade, the second-hand market may offer better value compared to new properties, while caution is advised for speculative investments [13]

Market Overview - The Shanghai real estate market is showing unexpected strength, with both the second-hand and rental markets remaining active as of the end of December 2025 [1][5] - The new housing market in Shanghai also performed positively, with a reported transaction area of 467,000 square meters in December 2025, representing a month-on-month increase of 45.9% [4] Second-hand Housing Market - In December 2025, the transaction volume of second-hand homes (including commercial properties) in Shanghai exceeded 23,000 units, marking the third highest point of the year, following the peak seasons of March and April [6] - Throughout 2025, a total of 254,218 second-hand homes were sold in Shanghai, with monthly transactions consistently above 18,000 units, except for February due to the Spring Festival [6] - The entry threshold for purchasing has decreased significantly, with many older properties now priced around 2 million yuan, making it more accessible for first-time buyers [6] Rental Market - The rental market remains robust, with landlords experiencing quick turnover in rental agreements. For instance, a landlord reported that a new tenant was secured on the same day the previous contract expired, with a rent increase from 1,900 yuan to 2,000 yuan per month [5] - The rental income has steadily increased over time, indicating a strong demand for rental properties [5] Future Outlook - As of early 2026, Shanghai's second-hand housing transaction volume is leading compared to other cities, with 839 units signed during the holiday period [8] - Analysts suggest that while the current market performance is better than the previous two years, the transaction volume has not yet reached a critical point that would trigger a price rebound [10]

Group 1 - The S&P 500 is nearing all-time highs as the AI-driven bull market approaches its third year, indicating a strong market environment for investors heading into 2026 [1] - Investors are considering reorganizing and rebalancing their portfolios, particularly growth investors looking for stocks that may rebound in the upcoming year [1] Group 2 - Opendoor Technologies has seen a significant increase in stock value, up 260% in 2025, largely due to a meme-stock rally and a change in leadership [4][5] - The company has faced challenges due to reliance on leverage and a slowing housing market, but recent signs indicate a potential recovery in the housing market, which could benefit Opendoor [6][7] - Opendoor aims to achieve break-even adjusted net income by the end of 2026, positioning itself for potential growth if the macroeconomic environment improves [7][8] Group 3 - Sweetgreen has experienced a difficult 2025 but is also considered a candidate for significant recovery if economic conditions are favorable [9][10]

Gary Friedman last night uh guiding lower on margins takes us to a mad dash. >> No, it was not a call that if you're looking for upside. I think that in some ways and I went over this with Ben Stos, my research director, that RH is to housing as strategy is to Bitcoin.I mean, you just they're linked. >> You mean like a leverage play. >> Yeah.And and I feel like that if you're really sure that housing's going to come back, really really sure because if you're just kind of sure that's Home Depot, if you're re ...

The Home Depot has released a restrained preliminary outlook for its 2026 financial year, indicating that it does not expect a near-term rebound in the housing market. For fiscal 2026, the Atlanta-headquartered company forecasts comparable sales to range from flat to an increase of up to 2%. Total sales are projected to rise by between 2.5% and 4.5%. The retailer is targeting an operating margin of 12.4% to 12.6%, with adjusted operating margin estimated at 12.8% to 13%. Diluted earnings per share are ...

Toll Brothers - Shares of Toll Brothers are under pressure due to concerns that the housing market may remain challenging into 2026, indicating a slow recovery [1][5] - The company reported mixed results for the last quarter, with revenue of $3.42 billion exceeding expectations of $3.3 billion, but adjusted EPS of $4.58 falling short [2] - Toll Brothers expects to deliver between 10,200 and 10,700 units in 2026, which is below market expectations [2] - The average selling prices for homes are projected to be between $970,000 and $990,000 for 2026, which is in line with Wall Street's forecasts [3][4] AutoZone - AutoZone's quarterly results were weaker than expected, with EPS at $31.04 and revenue at $4.63 billion, both lower than market expectations [6] - The company's investments and growth initiatives have negatively impacted margins, with gross margins declining and operating expenses increasing [7] - Despite the challenges, same-store sales increased by 5.5%, and commercial sales saw a significant jump of 14.5% [7][8] Norwegian Cruise Line - Norwegian Cruise Line received a downgrade from Goldman Sachs, moving from a buy to neutral, with a price target of $21 [9][10] - Concerns are raised regarding Norwegian's significant exposure to the Caribbean market, which may lead to profitability challenges due to rapid capacity expansion [11][12]