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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.

Texas Capital Bancshares, Inc.

TCBI2025-04-17BankingGlobal
Negative

Recent tariff actions and resulting volatility in the financial markets could manifest in changes to client confidence, affecting hiring, capital investment, and M&A.

Revenue Impact
Potential decrease in client activity and confidence due to tariffs may affect revenue from capital investments and M&A.
Operations
Increased uncertainty in the macroeconomic environment could hinder operational decisions for clients.

Snap-on

SNA2025-04-17AutomotiveNorth America
Negative

the effects of the last quarter on the general populace with popped off by the tariffs were so pervasive that they outran our progress in those things.

Cost Impact
Tariffs are creating a fog of uncertainty affecting technician confidence and overall market sentiment.
Revenue Impact
The pervasive impact of tariffs has led to a decline in organic sales rates and consumer spending.

Ally Financial

ALLY2025-04-17Financial ServicesNorth America
Neutral

While we expect some near-term volatility stemming from the changes in trade policy, we are well-positioned to effectively serve our customers and will benefit from a stronger economy in the long term.

Strategy
The company is strategically positioned to manage the impact of tariffs and navigate macroeconomic uncertainties.
Operations
The company has made operational changes to improve effectiveness in collections and overall business management.

American Express

AXP2025-04-17Financial ServicesNorth America
Negative

I think small businesses might be the ones that would be impacted first.

Revenue Impact
Potential decrease in spending from small businesses due to increased costs from tariffs.

ManpowerGroup

MAN2025-04-17Staffing and RecruitmentGlobal
Negative

Uncertainty is really mostly reflected in the perm numbers that we think are going to be a little bit softer.

Guidance Impact
The overall staffing numbers are stable, but permanent hiring is expected to soften due to trade policy uncertainty.
Cost Impact
Increased caution from clients leads to reduced demand for permanent recruitment, impacting overall profitability.

First Industrial Realty Trust, Inc.

FR2025-04-17Real EstateGlobal
Negative

We're monitoring the developments and their potential impact on business activity and the leasing market.

Operations
Decision-making on new investments in growth is affected by uncertainty surrounding tariffs.
Guidance Impact
The ongoing tariff negotiations could further impact the operating environment and tenant demand.

Banner Corporation

BANR2025-04-17BankingNorth America
Negative

Tariffs will have a negative impact to West Coast businesses and the local economies.

Cost Impact
Increased costs for small businesses unable to absorb the impact of tariffs.
Revenue Impact
Reduced demand and overall market disruption anticipated due to tariffs.
Supply Chain
Potential supply chain issues affecting the ability of businesses to operate efficiently.
Operations
Increased operational challenges for businesses facing higher costs and reduced consumer spending.
Financial Impact
Overall financial uncertainty leading to cautious lending practices and potential increases in delinquencies.

Cohen & Steers

CNS2025-04-17Investment ManagementGlobal
Negative

The April second tariff announcements represented just such a surprise. And in our view will lead to a meaningful stagflationary impact on the US, at least in the short run.

Financial Impact
Tariffs are expected to increase uncertainty and could boost recession odds, negatively impacting financial markets.
Revenue Impact
Estimates suggest that S&P 500 earnings could decline by around 10% due to tariffs, while real assets like infrastructure are less affected.
Operations
Business decision-making is expected to slow or cease entirely due to the uncertainty created by the tariffs.

Rexford Industrial Realty, Inc.

REXR2025-04-17Real EstateNorth America
Negative

Since the recent tariff announcements, we have seen some tenants defer decision making amid increased economic uncertainty.

Operations
Tenants are delaying decisions due to uncertainty caused by tariffs.
Guidance Impact
Projected lease-up timing has increased due to tariff disruption.

Synovus

SNV2025-04-17Financial ServicesNorth America
Negative

20% of our clients felt increased tariffs would have a meaningful impact on their respective businesses.

Cost Impact
Clients expect increased input costs due to tariffs, potentially leading to lowered margins.
Revenue Impact
Uncertainty surrounding tariffs may affect business activity and revenue growth.
🔔Tracking Started: This page tracks tariff commentary from NYSE and NASDAQ companies with market capitalization above $10 billion, beginning April 2, 2025.