Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
the demand we saw last year was very focused on the AI trade data centers, some M&A-driven trades, but a real pause pending some resolution or clarity around tariffs.
By comparison, when our business faced abrupt tariff-related uncertainty in April of 2025, the pause in leasing activity was relatively immediate before flowing out in the following weeks and months.
the economy continues to hold up well despite ongoing concerns and uncertainty regarding tariffs and other policies.
Cost of goods sold deleveraged by 10 basis points, driven by the impact of tariffs and other operational drivers in the MedTech business.
Tariff-related costs moved through the P&L faster than our pricing, leaving us approximately 40 basis points short of our own target.
we'll have relief from aluminum tariffs this year
We are seeing some projects delayed. We're anticipating some slowdowns that may happen or may not happen.
As we look to next year, because we had mitigation that we're going to wrap, there is going to be some headwind from a kind of wrap perspective in tariffs.
Gross margins declined 130 basis points to 40.2% on a reported basis, primarily due to 300 basis points associated with higher tariffs in North America.
The tariff landscape was uncertain and unpredictable in 2025. We expect it will remain that way in 2026.