Factbox-U.S. companies raise product prices to tackle wage, raw material inflation
Reuters
Published Jul 23, 2021 08:45AM ET
(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 (NYSE:CMG) Mexican Could implement more price hikes after
Grill Inc seeing very little resistance to
previous price increases.
PepsiCo (NASDAQ:PEP) 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 (NYSE:VMI) 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 (NYSE:KMB) Increased prices to offset higher raw
material costs.
Harley-Davidson Inc (NYSE:HOG) 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 (NYSE:NUE) Primary drivers for expected increase
in earnings in the third quarter are
improved pricing and margins in its
steel mills segment.
Halliburton (NYSE:HAL) Co Expects increasing demand and
tightening equipment capacity to lead
to higher prices.
Domino's Pizza (NYSE:DPZ) Inc Second-quarter results were partly
driven by a balance of more items per
order, modest menu price and delivery
fee increases.
Conagra Brands (NYSE:CAG) Inc Said it would have to be aggressive
CAG.N> going forward while discussing price
increases.
Travelers (NYSE:TRV) Co Inc Expects price rises to keep exceeding
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Written By: Reuters
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