Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
There are lingering questions around tariffs and ongoing geopolitical impacts.
There was a retroactive tariff on one of the pipelines we utilize on the West Coast, and all those charges hit during the fourth quarter.
Early signs suggest that these efforts, together with tariffs on Chinese manufactured goods, are beginning to impact the illicit marketplace.
following a period of tariff-related delays.
we navigated an uncertain economic environment... due to continued tariff volatility and evolving trade pressures
we achieved these results amid a turbulent year for markets, which was impacted by tariff uncertainty, geopolitical instability, and the longest government shutdown in US history.
As we again delivered stronger volumes enabled by supply chain improvements...and the timing of high-margin power shipments in ESS and a headwind from a step-up in R&D.
In a dynamic environment with net tariff headwinds of $1.7 billion, we delivered full-year adjusted operating profit margin within the target range at 17.2%.
These pressures were partially offset by continued productivity and cost control. Our expense management was a strong point for the quarter.
The impact of tariffs is in that guide of slightly down next year.