The theme: “Uncertainty” has emerged as an unmistakable buzzword across consumer brands’ earnings calls this quarter, reflecting the growing difficulty companies and consumers face in navigating a volatile macroeconomic environment and rapidly shifting tariff policies. (To keep track of the latest shifts, check out our Live FAQ: The Impact of Trump’s Tariffs on Consumers, Businesses, and Trade).

As a result, many brands are scaling back or withdrawing their guidance altogether, bracing for a future that remains anything but clear.

The examples: A wide range of companies on Tuesday flagged the unpredictable environment as a major headwind: