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Tariff Impact Tracker from Earnings Calls

Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.

Associated Banc-Corp

ASB2025-04-24Financial ServicesNorth America
Neutral

While the macro picture has been clouded by talk of tariffs and trade negotiations, we've continued to see stability in our home Midwestern markets.

Cost Impact
Tariffs have injected uncertainty into the economy, leading customers to take steps to protect their businesses against short-term volatility.
Operations
Proactive meetings with customers and monitoring of portfolios are being conducted due to tariff-related uncertainties.

Valley National Bancorp

VLY2025-04-24BankingNorth America
Negative

Tariff uncertainty has driven most economic growth estimates lower, while inflation expectations are rising.

Revenue Impact
Tariff uncertainty is negatively affecting economic growth estimates, which may impact overall revenue.
Cost Impact
Inflation expectations are rising, potentially increasing operational costs.

Fiserv, Inc.

FISV2025-04-24Financial ServicesGlobal
Neutral

the cost impact of tariffs at current levels is expected to be minimal relative to the size of the cost base of the company and thus manageable within our guidance range.

Cost Impact
The impact of tariffs is considered minimal relative to the overall cost structure of the company.

Alphabet Inc.

GOOGL2025-04-24TechnologyAsia-Pacific
Negative

the changes to the de minimis exemption will obviously cause slight headwind to our ads business in 2025, primarily from APAC-based retailers.

Revenue Impact
Potential decline in advertising revenue due to increased tariffs affecting APAC-based retailers.

CBRE

CBRE2025-04-24Real EstateGlobal
Negative

driven by uncertainty created by the tariff situation, our outlook has become less clearer.

Guidance Impact
The uncertainty related to tariffs has caused the company to maintain its earnings guidance rather than increase it, despite strong performance.
Cost Impact
Some corporates have slowed down on their bigger programs due to uncertainty from tariffs, impacting project management activities.

Newmont Corporation

NEM2025-04-24MiningGlobal
Neutral

We are closely monitoring the evolving tariff situation and are very much focused on managing the variables that are within our control.

Cost Impact
Upward pressure on grinding media costs due to steel price fluctuations.
Supply Chain
No significant impacts currently, but monitoring consumables and materials supply chains for potential tariff effects.

First American Financial Corporation

FAF2025-04-24Financial ServicesGlobal
Negative

There's a lot of macro noise with tariffs, the path of rates, inflation, and uncertainty in the general economy.

Revenue Impact
Tariff-related uncertainties are affecting overall economic conditions, potentially leading to a slowdown in transactions.

TFI International

TFII2025-04-24TransportationNorth America
Negative

Our industrial end markets are exposed to tariff-related uncertainty, which was evident during the first quarter before the April 2 announcement.

Revenue Impact
The uncertainty surrounding tariffs has led to decreased volumes as customers in industrial sectors are hesitant to place orders.
Operations
Operational decisions and strategies have been affected due to ongoing discussions and uncertainties related to tariffs.

Reliance Steel & Aluminum Co.

RS2025-04-24MetalsNorth America
Neutral

While we continue to see new opportunities in the pipeline, the pace has slowed recently due to overall macroeconomic uncertainty.

Cost Impact
Limited exposure to direct imports of metal into their cost of sales, as over 95% is sourced from domestic producers.
Supply Chain
Ongoing conversations with suppliers to mitigate potential impacts of tariffs on foreign equipment orders.
Strategy
Plans to continue investing in CapEx despite uncertainties posed by tariffs, maintaining focus on supporting customers.

RLI Corp

RLI2025-04-24InsuranceNorth America
Negative

the tariff situation is is kind of a replay of COVID situation we had a few years ago.

Operations
Increased uncertainty in bidding for construction projects due to potential cost increases related to tariffs.
Revenue Impact
Potential slowdown in port activity could impact transportation coverage and insurance premiums.
🔔Tracking Started: This page tracks tariff commentary from NYSE and NASDAQ companies with market capitalization above $10 billion, beginning April 2, 2025.