Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
Several factors are pressuring margins. These include global trade disruptions, low demand for durable goods, a lower oil-to-gas ratio, ongoing lower capacity additions and in Europe, increased competition from imports.
Tariffs, trade uncertainty and volatility impacted our full year 2025 revenues by over $350 million.
We are monitoring recent reports related to fertilizer C-band tariffs in Europe.
We delivered organic sales, net sales, gross profit, base business earnings per share and free cash flow growth in 2025 despite... the impact of higher tariffs.
The framing lumber composite began the fourth quarter on a slight upward trajectory, largely supported by improving Western SPF pricing and broader concerns around the Section 232 tariff, which took effect in October.
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.