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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.

MSCI Inc.

MSCI2025-04-22Financial ServicesGlobal
Positive

Given the decline in interest rates and obviously the weakening of the dollar, we also saw flows going into emerging markets and new inflows into emerging markets.

Revenue Impact
Increased asset-based fees due to rising investments in non-US markets as a result of changing trade policies.
Strategy
Shift in client investments towards international markets due to tariffs impacting US market confidence.

Verizon

VZ2025-04-22TelecommunicationsNorth America
Negative

If the tariff is going to be as high as they say on the handsets, we are not planning to cover that in our work.

Cost Impact
Higher tariffs on handsets may lead to increased costs that cannot be absorbed by the company, impacting pricing strategies.
Revenue Impact
Increased costs from tariffs may necessitate passing higher prices onto consumers, potentially affecting sales volume and revenue.
Guidance Impact
The impact of tariffs creates uncertainty, which is reflected in caution regarding guidance for future performance.

Kimberly-Clark

KMB2025-04-22Consumer GoodsNorth America
Negative

the majority of what we sell in the US is sourced and made locally here in the US...our combined exposure to three specific countries, China, Mexico and Canada, was just less or around 10% of our total cost of goods.

Cost Impact
An incremental $300 million gross impact from tariffs primarily due to increased costs on imported finished goods from China.
Financial Impact
The tariff impacts are expected to negatively affect operating profit and EPS guidance for the year.

Enphase Energy

ENPH2025-04-22EnergyGlobal
Negative

The newly announced 145% tariff on products from China, along with the 10% reciprocal tariffs on import from other countries is expected to have minimal impact on our microinverters and accessories.

Cost Impact
Tariffs are expected to reduce gross margins by approximately 2% in Q2 of '25, with a potential increase to 6% to 8% in subsequent quarters.

Equifax

EFX2025-04-22Financial ServicesNorth America
Negative

We are clearly in a period of significant economic and market volatility, principally from uncertainty around tariffs and their impact on U.S. inflation and interest rates.

Guidance Impact
Due to the uncertainty surrounding tariffs and their effects on the economy, the company is maintaining its revenue and EPS guidance for 2025 despite a strong first quarter performance.

United Community Banks

UCBI2025-04-22BankingNorth America
Neutral

Ultimate tariff impacts are impossible to predict at this point.

Strategy
Companies are adjusting quickly with price increases, sharing tariffs with suppliers, and changing material sourcing.
Cost Impact
Some impacted companies are looking to cut costs in other areas to maintain margins.

Manhattan Associates

MANH2025-04-22TechnologyGlobal
Negative

As tariffs impact the cost of inventory, precise inventory management and handling of inventory to optimally satisfy end customers is more important than ever.

Cost Impact
Increased costs associated with managing inventory due to tariffs.
Revenue Impact
Potential decrease in customer spending on services as they focus on cost management due to tariff-related pressures.
Guidance Impact
Caution regarding near-term services revenue growth due to uncertainties created by tariffs.

Valmont Industries, Inc.

VMI2025-04-22ManufacturingNorth America
Neutral

We're also actively mitigating near-term tariffs.

Cost Impact
Tariffs cost the company $3 million in the first quarter, but they expect to be cost neutral for the full year.
Revenue Impact
The company has increased pricing to offset tariff costs and is seeing some recovery in revenue from proactive supply chain adjustments.

East West Bancorp

EWBC2025-04-22BankingGlobal
Neutral

Tariffs are not new for East West or our customers. We have been taking tariffs into consideration since 2017.

Supply Chain
Customers diversified their supply chains due to previous tariff impacts and continue to manage exposure.
Operations
The bank engaged with over 500 commercial clients regarding potential tariff impacts, demonstrating proactive risk management.

Danaher Corporation

DHR2025-04-22Life SciencesGlobal
Neutral

Based on what is currently implemented, we believe we can largely offset the impact from these tariffs through a combination of supply chain adjustments, surcharges, manufacturing footprint changes and other cost actions.

Cost Impact
Tariffs are expected to result in several hundred million dollars in costs, but the company plans to offset this through various strategies.
Revenue Impact
The expectation of tariffs could lead to pricing adjustments, but the overall revenue growth remains stable with continued strength in bioprocessing.
🔔Tracking Started: This page tracks tariff commentary from NYSE and NASDAQ companies with market capitalization above $10 billion, beginning April 2, 2025.