Businesses have gotten more clarity on trade as global tariffs went to into effect this week and that's helped boost CEO confidence. The conference board's third quarter CEO survey climbing 15 points from last quarter to 49. And while that's a big improvement, any reading under 50 shows more negative than positive responses.So what are the biggest issues now for executives. Joining me to discuss is Steve Oddland, CEO of the Conference Board. He's also a CNBC contributor.Steve, great to see you. And I I wond ...

And as President Trump's tariffs take effect, various industries are sharing, in their own words, the impact on their operations and their bottom lines. Typically, Halloween items arrive in August. for the time when the tariffs were at 145%.It really disrupted all of the supply chain from China. I would say by the middle of September, you'll start seeing shortages because those larger retailers will have to rely on the inventory that is in the United States right now. There's a number of products we weren't ...

A core tenet of America's Air Action plan is access to and the export of the American technology stack. And one of the lead and contributors to the American technology stack is the chip makers and AMD core among them. Delight to say that AMD CEO Lisa Su is with us in Washington, DC.It's a good place to start. We've both read the 23 page document, the Action Plan, an emphasis on deregulation, cutting red tape on energy. But for you, what is the core principle in it that you think is most important for Americ ...

Trade & Tariffs - Investors are potentially underestimating the likelihood of sustained high tariffs, influenced by President Trump's consistent stance on trade [2][3][4] - The impact of tariffs, such as 30% or 50% on the European Union, varies across countries and products, making trade dynamics complex [7][9] - Companies may shift supply chains away from the U S due to increasing costs, leading to potential underperformance of U S businesses [9][10] Government Debt Sustainability - Government debt sustainability is a growing concern across developed markets, including the U S, Japan, the UK, and Europe [5] - A developed markets bond crisis is a serious possibility [6] Economic Impact - Increased costs for U S businesses and consumers are anticipated as global trade deals exclude the U S, fostering resilience in other countries [9] - Diversification of business chains by other countries may lead to continued underperformance of the U S [10]

Company Overview & Strategy - Ramico Resources acquired the Brook mine site 15 years ago and permitted it 5 years ago [1] - The company shifted its focus from a traditional coal mine to a critical mineral mine with rare earths co-mingled with coal [2] - Ramico Resources aims to establish a vertically integrated supply chain from extraction to rare earth oxides production [3] - The company is considering expanding its supply chain to include magnets or even semiconductor wafers [3][4] Government & Industry Dynamics - The US government is taking steps to create a level playing field in the rare earth industry to counter China's dominance [5][6] - Ramico Resources has been working with national labs from the Department of Energy and is in discussions with the Department of Defense [7] - Government involvement is deemed necessary to support the nascent rare earth industry and ensure a reliable supply [10][11] Resource Potential - The company has discovered approximately 17 million tons of rare earths, utilizing only about one-third of the mine site [7] - The US uses approximately 10,000 tons of rare earths per year, suggesting the mine could supply the US for over 100 years [8]

We have some tension here. Bloomberg's Joe Doe. The United States cannot produce rare earths in the volumes that are required.This is your whole raison d'etre. Emily very much for having me. Thank you.And he's exactly right. We don't produce anything in this country at scale that is used in a battery or that is a rare earth. Exactly what he said is applicable to our battery materials.So what pure lithium has done is we have invented our way out of this problem. We know that you cannot copy paste China's lit ...

is a part as well up as you see, some 8.7%. >> Meanwhile, the Paris Air Show, the world's largest aerospace industry exhibition event, takes place this week. Our Phil LeBeau joins us this morning from Paris with the CEO of engine maintenance company Standard Aero.Morning, Phil. >> Good morning. Carl.Russ Ford, CEO of Standard Aero. I think some people are watching this right now and they say, I know a little bit about standard aero, but I don't know a whole lot. Explain to people why that engine maintenance ...

Summary of Dana (DAN) 2025 Conference Call Company Overview - **Company**: Dana Incorporated (DAN) - **Date of Conference**: June 04, 2025 Key Points Status of Off Highway Business Sale - Dana is in the process of selling its Off Highway business, with a goal to announce a deal by late Q2 2025. The process has been competitive, with significant inbound interest from potential buyers [2][3][4] - Factors affecting the sale include uncertainties around tariffs and tight credit markets, which have slowed down the process [3][4] - Despite these challenges, Dana remains optimistic about the timeline and the potential value of the asset [4][13] Tariff Impact and Market Conditions - The tariff situation has improved, although new tariffs on steel and aluminum have been introduced. The overall impact on the Off Highway business is more related to end-market conditions rather than direct exposure [8][10] - The agricultural sector is seen as a potential winner or loser from the tariff situation, adding to the uncertainty regarding market recovery [9][10] - Dana's management believes that the cyclical nature of the Off Highway business is understood by potential buyers, who are assessing when the market will recover [11][12] Use of Proceeds from Sale - Proceeds from the sale are expected to be used to reduce leverage and reshape the balance sheet, aiming for a target leverage of around 1x over the cycle [16][17] - Dana plans to return capital to shareholders and invest in remaining businesses, particularly in light and commercial vehicles [17][19] Cost Reduction and Efficiency Improvements - Dana has made significant progress in cost reduction, raising its target from $1.75 billion to $2.25 billion for the year [21][22] - The company is focusing on long-term structural improvements rather than just short-term cost cuts, with opportunities identified in plant operations and commercial strategies [27][29] - Investments in automation and optimizing the production footprint are seen as key areas for enhancing margins [30][32] Aftermarket Business Growth - Dana is looking to leverage its existing aftermarket business, which has been underutilized, to drive profitability [35][39] - The company aims to improve pricing strategies and expand its presence in North America, particularly in the sealing business [38][40] Market Outlook - Light vehicle volumes in North America are holding up well, with no significant impacts from tariffs observed so far [51][52] - Commercial vehicle volumes are lower than expected, with no pre-buy activity noted [53][54] - The Off Highway business in Europe is experiencing some weakness, but the team is maintaining quality earnings while managing the sale process [55][59] Supply Chain and Raw Material Concerns - Dana is monitoring the rare earth material supply issues, which could indirectly affect production schedules [61][62] - The company has mechanisms in place to recover costs associated with steel and aluminum tariffs, with a projected impact of around $20 million from the recent tariff changes [82][84] Future Considerations - Discussions around reshoring production are ongoing, but there is uncertainty regarding the final rules and long-term implications of tariffs [88][90] - Dana's management is cautious about making significant capital investments without clarity on future regulations and market conditions [94][96] Additional Insights - The management team emphasizes the importance of a fresh perspective in evaluating business operations and identifying areas for improvement [46][47] - Dana's focus on high-value products and efficient capital use is expected to drive future growth and profitability [30][34]

Financial Data and Key Metrics Changes - The company reported net revenue of over $1,100,000,000 for fiscal year 2025, an increase of just over 1% compared to the prior year [6][7] - Adjusted EPS for the year was $4.52, up approximately 7% from the previous year [7][23] - Q4 revenue reached $296,500,000, a 7% increase year-over-year, with adjusted diluted EPS of $1.32, up from $1.20 in the prior year [18][19] Business Line Data and Key Metrics Changes - The North America segment saw broad-based growth, particularly in the women's health and GI categories, with brands like Summer's Eve and Dramamine performing well [18][20] - The international segment grew by 7.1% excluding foreign exchange impacts, driven by the Hydralyte brand [18][20] - E-commerce sales continued to grow at a double-digit rate, now representing high teens as a percentage of total sales [20][21] Market Data and Key Metrics Changes - The international segment experienced solid growth, particularly in Australia, contributing to overall performance [20] - E-commerce remains the fastest-growing channel, with shipment growth accelerating in Q4 [20][21] Company Strategy and Development Direction - The company emphasizes a diversified portfolio of brands to navigate market challenges and capitalize on growth opportunities [6][28] - A disciplined capital allocation strategy is in place, focusing on M&A opportunities, share repurchases, and maintaining cash reserves for future investments [25][26] - The company plans to continue leveraging its marketing agility to adapt to changing consumer preferences and market conditions [8][62] Management's Comments on Operating Environment and Future Outlook - Management highlighted ongoing challenges from tariffs, supply chain constraints, and inflation, which could impact consumer spending [5][28] - The outlook for fiscal 2026 anticipates revenues between $1,000,000,001.40 and $1,000,000,001.55, with organic growth expected at 1% to 2% [31][32] - The company expects to maintain gross margin expansion despite tariff impacts, projecting a gross margin of approximately 56.5% [21][33] Other Important Information - The company generated $243,000,000 in free cash flow for fiscal 2025, up approximately 2% from the prior year [24] - The leverage ratio improved to 2.4 times, providing strategic flexibility for capital deployment [25][26] Q&A Session Summary Question: Organic sales growth guidance of 1% to 2% - Management acknowledged macroeconomic volatility and the timing of e-commerce orders as factors influencing the guidance [35][36] Question: Recovery expectations for Clear Eyes - Management confirmed plans to expand capacity with existing suppliers and bring on new suppliers, expecting recovery in the second half of fiscal 2026 [39][41] Question: Women's health category growth outlook - Management expressed confidence in the growth of Summer's Eve and Monistat, citing successful marketing and new product launches [45][47] Question: Capital allocation strategy with reduced leverage - Management indicated a balanced approach to capital allocation, focusing on M&A opportunities while also considering share repurchases [52][54] Question: Consumer uncertainty and marketing plans - Management plans to adapt marketing strategies based on evolving consumer preferences, emphasizing the importance of needs-based products [60][62] Question: Tariff impacts and cost-saving measures - Management confirmed the $15,000,000 tariff headwind and outlined plans to mitigate costs through supplier collaboration and potential pricing adjustments [64][66] Question: E-commerce growth internationally - Management noted that e-commerce growth is primarily US-centric, with less growth observed in other markets [68] Question: Opportunities for domestic suppliers - Management is exploring opportunities for domestic sourcing to mitigate tariff impacts, particularly from China [74][76] Question: Innovation and new product launches - Management indicated a steady approach to innovation, focusing on margin-accretive products without targeting a specific percentage of sales from new products [78][80]

Financial Data and Key Metrics Changes - Adjusted EPS for Q1 2025 was $1.39, reflecting a 7.5% core sales growth driven by Aerospace and Electronics and Process Flow Technologies [5][28] - Core orders increased by 16% in the quarter, primarily due to strength in Aerospace and Electronics [5][28] - Adjusted operating profit rose by 18%, supported by volumes, solid net pricing, and productivity [28] Business Line Data and Key Metrics Changes - Aerospace and Electronics segment sales reached $249 million, a 10% increase, with a record backlog of $960 million, up 21% year-over-year [29][30] - Total aftermarket sales in Aerospace and Electronics increased by 20%, with commercial aftermarket sales up 19% and military aftermarket up 24% [29] - Process Flow Technologies delivered sales of $309 million, up 9%, with core sales growth of 5% and a 5% contribution from recent acquisitions [30][31] Market Data and Key Metrics Changes - The Aerospace market remains strong, with Boeing ramping up production and solid procurement spending in defense [16][30] - Core sales growth for Aerospace and Electronics is anticipated to be mid to high single digits for the year, leveraging a 35% to 40% growth rate [17][30] - Process Flow Technologies is positioned to outgrow markets across cycles, focusing on higher growth end markets such as chemicals and pharmaceuticals [20][21] Company Strategy and Development Direction - The company aims to continue driving above-market growth through both organic means and acquisitions, with a strong balance sheet and $1.5 billion in M&A capacity [10][23] - The strategic focus includes investing in technology and new product development while maintaining operational excellence [21][27] - The company is actively pursuing new business opportunities and has a robust pipeline of potential acquisitions across various segments [24][108] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in emerging stronger from current economic challenges, reaffirming the full-year adjusted EPS outlook of $5.3 to $5.6 [6][27] - The company is prepared to adapt to changes in the economic environment, including inflationary pressures and supply chain dynamics [6][15] - Management highlighted the importance of maintaining a flexible and accountable operational structure to navigate uncertainties [15][27] Other Important Information - The company has not seen a slowdown in M&A activity despite macroeconomic challenges, indicating a strong pipeline of potential deals [24][87] - Recent leadership conferences focused on reinforcing best practices and driving growth initiatives across the organization [25][26] - The company expects to manage through potential demand fluctuations without losing sight of long-term goals [21][27] Q&A Session Summary Question: Can you clarify the updated guidance and the contribution of price to sales? - Management expects about 3% overall price contribution, more heavily weighted to Process Flow Technologies [38] Question: Are there any notable items in the defense package that could drive growth? - Management sees broad exposure across defense platforms and anticipates strong demand in munitions and aircraft [44][45] Question: What is the growth split between volume and price in Aerospace and Electronics? - The growth split was roughly 50/50 between volume and price [51] Question: Are there any concerns about supply chain disruptions affecting project deliveries? - Management does not foresee significant disruptions, although some lead time extensions may occur [78] Question: How is the company managing tariff impacts on costs? - The estimated tariff impact is around $60 million for the year, which the company expects to mitigate substantially [95][96] Question: What is the outlook for the chemical market within Process Flow Technologies? - The company anticipates some project activity in the Americas to shift to the right, with softening demand in Europe [98]