Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
We continue to expect gross margin to decrease approximately 110 basis points versus 2024, driven predominantly by increased tariffs.
We believe our mitigation efforts can help us prevent sustained margin erosion.
We benefited from lower than anticipated tariff impact and more favorable OI and E.
It is still a very competitive market out there as the market conditions overall, both residentially and non-residentially are in a challenging place.
While we have relatively low exposure, we are working diligently to mitigate the impact of current tariffs on our business as much as possible.
This guidance excludes any impact from the imposition of import tariffs and potential retaliatory actions taken by other countries, as the trade environment remains uncertain.
The level of tariff currently varies across our product categories.
we continue to monitor the developments surrounding trade policy and other macroeconomic changes while prioritizing our efforts to assist clients in navigating through the ongoing headwinds.
Changes to long-standing U.S. and international trade policies have resulted in a volatile and uncertain operating environment given the potential for structural disruptions to global supply chains and capital flows.
We expect this favorability to flip around in Q2...we began to aggressively go after margin and expense savings opportunities across the P&L in anticipation of the margin pressure that we are likely to feel from tariffs later in the year.