NEW YORK (AP) -- Uncertainty continues to hang over the latest round of financial results and forecasts for companies both big and small as they try to navigate a global trade system severely shaken by a shift in U.S. policy.
Roughly half of the companies in the S&P 500 have reported their latest quarterly financial results, but the focus has been on how they will adjust to tariffs and any change in consumers' behavior. Here's a look a what companies are saying about tariffs and the potential impact:
General Motors trimmed one of its profit measures as the carmaker braces for the potential impact from auto tariffs.
Auto companies like General Motors have operations spread out throughout North America, with auto parts and assembly steps often crossing multiple borders before a car is produced.
The company said that it expects full-year adjusted earnings before interest and taxes in a range of $10 billion to $12.5 billion. That's down from a previous range of $13.7 billion to $15.7 billion. The revised guidance includes a current tariff exposure of $4 billion to $5 billion.
President Donald Trump signed executive orders Tuesday to relax some of his 25% tariffs on automobiles and auto parts.
Harley-Davidson withdrew its financial forecast for the year because of uncertainty over tariffs and the economy.
The iconic motorcycle maker said it is focusing on productivity measures, supply chain management and cost controls to help deal with the impact from tariffs. The company gets just under 70% of its revenue from within the U.S., according to FactSet. That leaves a large chunk of its revenue exposed to retaliatory tariffs from other nations.
Hershey reaffirmed its financial forecasts for the year, which include assessments for tariff expenses as they currently stand.
The chocolate maker estimates the current tariff expenses to range from about $15 million to $20 million in the second quarter. Hershey and other chocolate makers are already dealing with cocoa supply issues that have helped push prices higher. More than 70% of the global cocoa supply comes from West Africa and the region has been dealing with stressed and damaged crops for years.
Church & Dwight slashed its financial forecasts for the year as it faces the impact from tariffs and a potential slowdown in consumer spending.
The maker of Arm & Hammer and other household and personal care products now expects earnings to range from flat to 2% growth. It previously forecast earnings growth of up to 8%.
It estimated that its tariff exposure over the next 12 months is about $190 million. The company hopes to reduce that exposure by up to 80% with several measures, including no longer sourcing Waterpik flossers from China for the U.S. market. It will also potentially shut down or sell some of its brands.
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AP writer Michelle Chapman contributed to this report.
