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other actions in response to them could result in changes to these estimates.
CNH, the parent of Case and New Holland ag and construction equipment, points to macroeconomic uncertainty and a U. S. crop market“ already expected to hit trough levels” in reducing its guidance and / or increasing its own outlook uncertainty.
something we can just change quickly and overnight. There are things we’ ve got to do but we’ ve been around for 100 years and we’ ve managed these situations. We’ re a global company we have a global supply chain and we are very resilient.”
Looking ahead, Caterpillar warned of tariff-related cost headwinds of $ 250 million to $ 350 million in Q2. The company also anticipates lower adjusted operating profit margins compared to the same quarter last year, citing pricing pressures and tariffs.
CNH In addition to the lower cyclical industry sales, CNH has been evaluating multiple potential global trade scenarios. The uncertainty of those scenarios, including the amount and duration of tariffs levied, the policy reactions of U. S. trading partners, and the impact to our end customers, may affect our forecast for the year. CNH has therefore evaluated a wider set of possible outcomes, including tariffs remaining at their current levels through the remainder of the year and, as of July 9, 2025, tariffs increasing to the levels announced by the U. S. government on April 2, 2025.
Consequently, CNH is providing the following updated 2025 outlook:
Agriculture segment net sales down between 12 % and 20 % year-over-year( from down 13 % to 18 % previously).
Construction segment net sales down between 4 % and 15 % year-overyear( from down 5 % to 10 % previously).
AGCO AGCO’ s net sales for 2025 are expected to be approximately $ 9.6 billion, reflecting lower sales volumes and assumed actions to mitigate tariff impacts. These full-year estimates reflect the projected impact of tariffs in place as of May 1, 2025, across the company’ s various jurisdictions along with planned mitigation actions. Changes to the tariffs or
Polaris In its financial presentation, Polaris highlighted what it sees as unfair conditions from tariffs. The company said it is U. S. headquartered and assembled but has large tariff exposure due to sourcing parts and components from overseas. It said new rules have created an environment where the competition has less tariff impact.
To reduce the impact, Polaris said it will address supply chain and manufacturing by“ taking actions to reduce China sourcing by 30 % by year-end.” And it will work“ to increase percentage of USMCA qualified shipments. It also plans increased government affairs efforts, meeting with congressional and administration members.
CEO Michael Speetzen explained that pricing will remain unchanged through May despite bearing higher costs than competitors. The focus is on internal cost management and supply chain adjustments, with significant progress in reducing Chinese content. The company is not relying on price increases as a relief measure and is exploring other avenues, including ongoing negotiations with the administration. Polaris is withdrawing full year 2025 guidance due to uncertainty.
RETAILERS AND LANDSCAPE INDUSTRY SiteOne Landscape Supply“ While the direct impact of tariffs is relatively small and manageable, the potential impact of ongoing uncertainty related to tariffs, inflation, and interest rates on consumer confidence and end market demand remains to be seen. We expect commodity price deflation to continue moderating in 2025 with declines in products like PVC pipe mitigated by increases across our other prod-
8 OPE + May 2025 www. OPE-Plus. com