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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.

BlackRock, Inc.

BLK2025-04-11Financial ServicesGlobal
Negative

Markets may take some time to sort out saber rattling around trade and tariffs, but BlackRock and our clients see growth and opportunity.

Operations
Increased geopolitical tensions and tariffs may lead to operational adjustments as clients seek to mitigate risks.
Revenue Impact
Uncertainty around tariffs could drive capital flows into private markets as investors look for stability.

Wells Fargo & Company

WFC2025-04-11Financial ServicesGlobal
Neutral

We support the administration's willingness to look at barriers to fair trade in the United States. Though there are certainly risks associated with such significant actions.

Strategy
The company's strategy is affected as they monitor the potential outcomes of trade policies and are prepared for changes that may impact loan demand and customer behavior.
Economic Impact
Concerns over economic uncertainty due to trade policy changes could lead to a slower economic environment affecting overall business performance.

Morgan Stanley

MS2025-04-11Financial ServicesGlobal
Negative

While tariff announcements and subsequent market volatility have disrupted near-term deal activity, our pipelines have not meaningfully changed since the beginning of the year and remain robust.

Revenue Impact
Tariff-related disruptions have affected deal activity, which could impact revenues from investment banking.
Operations
Increased uncertainty due to tariffs is affecting clients' strategic activities, leading to a pause in some transactions.

CarMax

KMX2025-04-10AutomotiveNorth America
Neutral

As new car prices go up, that will put a bigger spread between late-model used and new cars.

Revenue Impact
Potential increase in demand for used cars as consumers seek alternatives to more expensive new cars.
Cost Impact
Increased parts costs due to tariffs could affect reconditioning expenses.

Constellation Brands

STZ2025-04-10BeveragesNorth America
Negative

the guidance that we provided does include the impact for all tariffs announced by the U.S. government on April 2nd and by the Canadian government on March 4th.

Cost Impact
Tariffs are expected to increase costs, particularly impacting aluminum can prices and imports from New Zealand and Italy.
Guidance Impact
The anticipated impact of tariffs has led to a reduction in sales growth forecasts for fiscal '26 to '28.

PriceSmart, Inc.

PSMT2025-04-10RetailCentral America
Negative

This new international trade landscape creates additional complexities and will potentially bring cost pressures.

Cost Impact
Ongoing tariff challenges may increase the cost of imported merchandise.
Supply Chain
The company is developing contingency plans to adapt to tariff uncertainties.
Operations
The company is exploring direct shipments from Asia to reduce tariff impacts.

The Simply Good Foods Company

SMPL2025-04-09Food and BeverageNorth America
Neutral

we expect gross margins to be down approximately 200 basis points versus last year... as well as a preliminary estimate for the anticipated costs related to recently announced tariffs.

Cost Impact
Estimated headwind of about $5 million to $10 million in fiscal '25 due to tariffs affecting 15% to 20% of total COGS.

Delta Air Lines

DAL2025-04-09AerospaceGlobal
Negative

Given broad economic uncertainty around global trade, growth has largely stalled.

Cost Impact
Potential increase in operational costs due to tariffs affecting supply chain and procurement.
Revenue Impact
Softness in both consumer and corporate travel linked to broader market uncertainties from trade policies.

Neogen Corporation

NEOG2025-04-09Food Safety and Animal HealthGlobal
Negative

The administration's position on tariffs and the actions announced last week have added to this uncertain environment.

Cost Impact
Increased cost of goods sold due to tariffs affecting imports, particularly from China.
Revenue Impact
Potential loss of sales as products become more expensive due to tariffs, leading to a less willing customer base.

WD-40 Company

WDFC2025-04-08Consumer GoodsGlobal
Neutral

we believe these cost savings will largely offset the financial impact of any potential tariffs for the remainder of this fiscal year.

Cost Impact
Cost savings from supply chain optimization expected to mitigate tariff impacts.
Supply Chain
A decentralized supply chain structure reduces tariff risk.
🔔Tracking Started: This page tracks tariff commentary from NYSE and NASDAQ companies with market capitalization above $10 billion, beginning April 2, 2025.