Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
While managing tariff headwinds, our teams delivered a second consecutive year of at least 100 basis points of adjusted operating margin expansion.
Importantly, the color we're providing assumes that global tariff rates, policies, and their application remain in effect as of this call.
We expect this pricing environment to be transitory, current modeling suggests that this situation will persist through 2026 and have a roughly 75 to 100 basis points negative impact on gross margins for the calendar year.
Even with the impacts from tariff uncertainties, we delivered increased volumes in 2025.
we now expect the unmitigated tariff impact on fiscal year 2026 to be approximately $110 million.
We expect it to remain true no matter what the result of those types of investigations are for medical supplies announced in the late September investigation that's currently underway.
includes over 100 basis points of headwind from tariffs and related FX.
You have not heard us call out any negative impact from tariffs.
We expect to overcome these raw material headwinds and deliver full-year gross margin expansion given both incremental 2026 pricing and accelerated simplification efforts across our supply chain.
We described it about a bit higher than $140 million of tariff cost in 2025 on our last call.