Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
At the time we made the investment in our Purple Wave platform...the tariff complex would introduce into the industry and the uncertainty that it would inject into the industry for heavy equipment.
The year-over-year decrease was primarily due to higher tariffs, unfavorable sales mix and higher warranty expenses.
We faced a bumpy tariff environment.
The headwinds of 2025 were real and significant, a continued decline in repairable claims, the impact of tariffs and persistent softness in the European market.
We faced a challenging macro environment, including higher than historical interest rates, increased cost, continued inflation, impacts from tariffs and uncertainty around when consumers will return to more typical discretionary spending.
Our performance particularly impressive is that we achieved them while navigating trade policy shifts and geopolitical uncertainties throughout 2025.
significant tariff-related aluminum cost increases were more difficult to pass through due to plentiful supply and soft demand
International performance was impacted by challenging macroeconomic conditions in the U.K. and Germany and a deceleration in our cross-border volume growth due to U.S. trade policies, including the removal of de minimis exemption for all countries at the end of August.
we expect that to be flat to down sequentially, a bit below seasonal, and this is, as we've talked about, largely due to the tariff and macro pull-in unwind.
considering the impact of generationally high tariff structures that took effect early in the year.