(Reuters) – A slew of major U.S. companies — reeling from the impact of high prices of raw materials, increased labor expenses, and supply-chain woes — are raising prices of their products as demand for several goods rebound with a reopening of the economy.
Below are the comments from U.S. companies on their efforts to counter an inflationary environment:
Chipotle Mexican Could implement more price hikes after
Grill Inc seeing very little resistance to
previous price increases.
PepsiCo Inc Will raise prices to offset higher
raw-material as well as advertising
and marketing costs.
Dow Inc Product prices jumped 16% in the
second quarter from the prior period,
it said, as demand in infrastructure,
industrial and personal-care end
markets grew.
U.S. Silica Holdings Prices hikes of certain industrial and
Inc specialty products — to help offset
jumps in energy, transportation,
materials and manufacturing costs —
will range up to 15%, and go into
effect for shipments beginning Sept.
1.
Valmont Industries Expects meaningful sequential margin
Inc improvement in the second half in its
utility support structures division,
as pricing aligns more with steel cost
inflation.
Kimberly-Clark Corp Increased prices to offset higher raw
material costs.
Harley-Davidson Inc Implemented average 2% pricing
surcharge on select models in the U.S.
to offset raw-material inflation,
although it said the surcharge will
not fully offset raw-material cost
pressure.
Nucor Corp Primary drivers for expected increase
in earnings in the third quarter are
improved pricing and margins in its
steel mills segment.
Halliburton Co Expects increasing demand and
tightening equipment capacity to lead
to higher prices.
Domino’s Pizza Inc Second-quarter results were partly
driven by a balance of more items per
order, modest menu price and delivery
fee increases.
Conagra Brands Inc Said it would have to be aggressive
CAG.N> going forward while discussing price
increases.
Travelers Co Inc Expects price rises to keep exceeding
the increase in losses, or payouts, in
its commercial lines of business.
(Reporting by Praveen Paramasivam in Bengaluru; editing by Uttaresh.V)
