Amid growing tariff uncertainty and shifting economic signals, companies across sectors are rethinking their profit forecasts and recalibrating expectations for the year ahead.
Here’s a list of companies feeling the impact of US tariffs on balance sheets and strategies.
PepsiCo
PepsiCo (PEP) on Thursday cut its annual profit forecast and warned of higher production costs and more volatility from President Donald Trump’s on-again off-again trade tariffs.
“As we look ahead, we expect more volatility and uncertainty, particularly related to global trade developments, which we expect will increase our supply chain costs,” CEO Ramon Laguarta said in a statement.
American Airlines
American Airlines (AAL) withdrew its 2025 financial forecast on Thursday, mirroring its peers, as concerns over discretionary budget amid tariff pressures and government spending uncertainties hinder carriers’ ability to predict travel demand.
Merck
For the full year, Merck (MRK) lowered its earnings outlook slightly, citing an estimated $200 million in additional costs for tariffs implemented to date and a charge related to a licensing deal with Hengrui Pharma.
Hasbro
Hasbro (HAS) reported first-quarter results on Thursday that beat Wall Street estimates, helped by strength in the toymaker’s digital gaming segment, sending the company’s shares up about 4% in premarket trading.
The Play-Doh owner said it would not change its annual forecast given the uncertainty related to tariffs.
