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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.

Applied Digital

APLD2025-04-14TechnologyNorth America
Neutral

Importantly, our construction remains on schedule for our first building and we expect it to be ready for service and ready to begin generating revenue in the calendar fourth quarter of 2025. Nearly all the equipment for this building is landed, giving us not only confidence in the schedule, but it also means tariffs will not materially impact our build cost.

Cost Impact
Tariffs are not expected to materially impact build costs due to timely equipment landing.

JPMorgan Chase

JPM2025-04-11Financial ServicesGlobal
Negative

the main thing that we see there is what would appear to be a certain amount of front-loading of spending ahead of people expecting price increases from tariffs.

Operations
Corporate clients are focusing on optimizing supply chains and responding to current tariff-related uncertainties.
Strategy
Corporate clients are shifting focus from strategic priorities to short-term adjustments due to changes in trade policy.

BNY

BNY2025-04-11Financial ServicesGlobal
Negative

Last week's tariff announcements were clearly part of a broader strategy and an effort to reset trade relations between the US and the rest of the world.

Financial Impact
Uncertainty about tariffs has created elevated risks in the near and medium term, potentially impacting financial performance.
Guidance Impact
The uncertainty in trade policies is likely to affect future guidance and strategic decisions.

Fastenal

FAST2025-04-11IndustrialNorth America
Negative

We're being very thoughtful about that because about 15% of our revenue is in Canada or Mexico.

Cost Impact
Tariffs have prompted changes in sourcing and increased costs for importing products, affecting the overall supply chain and product pricing.
Revenue Impact
Potential tariffs may lead to decreased demand from customers due to higher prices, impacting sales.
Supply Chain
The company is adapting its sourcing strategies to mitigate the effects of tariffs, which could affect logistics and operational efficiency.

BlackRock, Inc.

BLK2025-04-11Financial ServicesGlobal
Negative

Markets may take some time to sort out saber rattling around trade and tariffs, but BlackRock and our clients see growth and opportunity.

Operations
Increased geopolitical tensions and tariffs may lead to operational adjustments as clients seek to mitigate risks.
Revenue Impact
Uncertainty around tariffs could drive capital flows into private markets as investors look for stability.

Wells Fargo & Company

WFC2025-04-11Financial ServicesGlobal
Neutral

We support the administration's willingness to look at barriers to fair trade in the United States. Though there are certainly risks associated with such significant actions.

Strategy
The company's strategy is affected as they monitor the potential outcomes of trade policies and are prepared for changes that may impact loan demand and customer behavior.
Economic Impact
Concerns over economic uncertainty due to trade policy changes could lead to a slower economic environment affecting overall business performance.

Morgan Stanley

MS2025-04-11Financial ServicesGlobal
Negative

While tariff announcements and subsequent market volatility have disrupted near-term deal activity, our pipelines have not meaningfully changed since the beginning of the year and remain robust.

Revenue Impact
Tariff-related disruptions have affected deal activity, which could impact revenues from investment banking.
Operations
Increased uncertainty due to tariffs is affecting clients' strategic activities, leading to a pause in some transactions.

CarMax

KMX2025-04-10AutomotiveNorth America
Neutral

As new car prices go up, that will put a bigger spread between late-model used and new cars.

Revenue Impact
Potential increase in demand for used cars as consumers seek alternatives to more expensive new cars.
Cost Impact
Increased parts costs due to tariffs could affect reconditioning expenses.

Constellation Brands

STZ2025-04-10BeveragesNorth America
Negative

the guidance that we provided does include the impact for all tariffs announced by the U.S. government on April 2nd and by the Canadian government on March 4th.

Cost Impact
Tariffs are expected to increase costs, particularly impacting aluminum can prices and imports from New Zealand and Italy.
Guidance Impact
The anticipated impact of tariffs has led to a reduction in sales growth forecasts for fiscal '26 to '28.

PriceSmart, Inc.

PSMT2025-04-10RetailCentral America
Negative

This new international trade landscape creates additional complexities and will potentially bring cost pressures.

Cost Impact
Ongoing tariff challenges may increase the cost of imported merchandise.
Supply Chain
The company is developing contingency plans to adapt to tariff uncertainties.
Operations
The company is exploring direct shipments from Asia to reduce tariff impacts.
🔔Tracking Started: This page tracks tariff commentary from NYSE and NASDAQ companies with market capitalization above $10 billion, beginning April 2, 2025.