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Tariff Impact Tracker from Earnings Calls

Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.

Stellantis

STLA2025-07-29AutomotiveNorth America
Negative

Industrial costs were impacted by higher warranty expense and lower volumes that reduced the spread of our fixed overhead as well as a net EUR 330 million of tariff expense.

Cost Impact
Tariff expenses contributed significantly to increased industrial costs, amounting to EUR 330 million.
Revenue Impact
Adverse regional mix and lower pricing, exacerbated by tariffs, led to a decline in net revenue by 13%.
Operations
Production disruptions related to initial tariff responses affected operational efficiency.
Guidance Impact
Expected total tariff expense for the year was increased to approximately EUR 1.5 billion, impacting financial guidance.

Corning Incorporated

GLW2025-07-29TechnologyGlobal
Neutral

Our guidance for Q3 factors in about $0.01 to $0.02 for the impact of currently enacted tariffs.

Cost Impact
The company expects minor cost impacts from currently enacted tariffs, but has a strategy to mitigate these effects.
Revenue Impact
There is potential revenue pull-forward as customers adjust their purchasing strategies ahead of expected tariffs.

UPS

UPS2025-07-29LogisticsGlobal
Negative

With the announcement of certain changes to trade policies in the second quarter, we saw that play out.

Revenue Impact
A year-over-year drop in average daily volume of 34.8% for the China to U.S. trade lane due to increased tariffs.
Financial Impact
The decline in the most profitable trade lane pressured international operating margins.
Operations
Changes in trade patterns and tariffs required over 100 adjustments to air network operations.

PayPal

PYPL2025-07-29Financial ServicesAsia
Negative

we saw volumes decelerate following the implementation of tariffs.

Revenue Impact
Deceleration in transaction volume due to tariffs affecting platforms and merchants in Asia.
Guidance Impact
Ongoing policy and macro uncertainty from tariffs could impact global economic activity, spending, and supply chains.

Merck & Co., Inc.

MRK2025-07-29PharmaceuticalsGlobal
Negative

Our guidance of $200 million of costs related to the impact of tariffs is unchanged, pending the outcome of additional potential government actions.

Financial Impact
Tariffs are expected to increase costs by $200 million, affecting overall financial performance.

Procter & Gamble

PG2025-07-29Consumer GoodsGlobal
Negative

This outlook includes a commodity cost headwind of approximately $200 million after tax and a foreign exchange tailwind of approximately $300 million after tax. In addition, our outlook includes $1 billion before tax in higher costs from tariffs in fiscal '26.

Financial Impact
Tariffs are expected to create a significant financial burden, with an estimated $1 billion increase in costs due to tariffs impacting earnings.
Guidance Impact
The tariff impacts are factored into the guidance range for fiscal year 2026, indicating a potential drag on overall performance.

Carrier

CARR2025-07-29HVACGlobal
Neutral

Tariffs were net neutral in the quarter.

Financial Impact
The net tariff impact in our July guide is 0, indicating that tariffs did not significantly affect financial performance.
Cost Impact
The incremental price to neutralize tariffs is now about $200 million versus $300 million in our prior guide, suggesting a careful management of pricing strategies.

Johnson Controls

JCI2025-07-29IndustrialGlobal
Negative

we proactively mitigated the impact of tariff through strategic sourcing and cost management initiatives.

Cost Impact
The company faced challenges due to tariffs, which required them to implement strategic sourcing and cost management to mitigate negative effects.

Hubbell

HUBB2025-07-29Electrical EquipmentGlobal
Negative

While raw material inflation and tariffs are driving incremental cost inflation relative to our initial outlook...

Cost Impact
Tariffs contributing to higher costs which the company is working to mitigate through pricing strategies.

Royal Philips

PHG2025-07-29HealthcareGlobal
Negative

At current tariff levels, we now expect free cash flow for the full year to range between EUR 0.2 billion and EUR 0.4 billion, up from slightly positive previously.

Financial Impact
Tariffs are expected to have a net impact of EUR 150 million to EUR 200 million on the company's finances for 2025.
Guidance Impact
Adjusted EBITA margin guidance increased by 50 basis points due to lower than previously assumed tariffs.
🔔Tracking Started: This page tracks tariff commentary from NYSE and NASDAQ companies with market capitalization above $10 billion, beginning April 2, 2025.