Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
Project-related spending was weak in 2025 driven by uncertainties related to tariffs.
Importantly, we ended last year with tariff and emissions clarity.
We saw Collins, I'll call it, organic margins at 17.1%, which was really, really nice to see. Obviously, we're still living with the tariff situation.
Although the freight recession persisted throughout 2025, DAT is continuing its evolution from a traditional load board into a more automated market where brokers and carriers can match loads with greater trust efficiency and increasingly transact with the platform.
the tariff strikes the right balance by providing hyperscalers with speed to market at a competitive price while just as importantly protecting our existing customers from bearing infrastructure build-out costs needed to support hyperscalers.
We expect revenue growth to be in the low single digits year over year, driven by a solid increase in revenue per piece. Operating margin in the International segment is expected to be in the mid-teens.
We incurred $2.4 billion in gross tariff costs... in the fourth quarter, we incurred another $700 million bringing the total for the year to $3.1 billion.
We had around $200 million of input costs that we dealt with last year. And that included the headwinds, which were unexpected, related to tariffs.
the negative impact of tariffs was entirely offset by our pricing actions and continued manufacturing diversification efforts.
I think at least the US fully understands the importance of commercial aerospace to the economy. To the US economy. They've been very supportive, and we've worked through what initially looked like some pretty hairy tariff environments to resulting in pretty good outcomes.