Factbox: U.S. companies raise product prices to tackle wage, raw material inflation

Valmont Industries

23/07/2021 13:42

July 23 (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  CMG.N      seeing very little resistance to
                       previous price increases.  urn:newsml:reuters.com:*:nL4N2OW38E
 PepsiCo Inc  PEP.O    Will raise prices to offset higher
                       raw-material as well as advertising
                       and marketing costs.  urn:newsml:reuters.com:*:nL4N2OP296
 Dow Inc  DOW.N        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.  urn:newsml:reuters.com:*:nL4N2OY1QT
 U.S. Silica Holdings  Prices hikes of certain industrial and
 Inc  SLCA.N           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.  urn:newsml:reuters.com:*:nL4N2OV2E7
 Valmont Industries    Expects meaningful sequential margin
 Inc  VMI.N            improvement in the second half in its
                       utility support structures division,
                       as pricing aligns more with steel cost
                       inflation.  urn:newsml:reuters.com:*:nL8N2OX6EU
 Kimberly-Clark Corp   Increased prices to offset higher raw
  KMB.N                material costs.  urn:newsml:reuters.com:*:nASA02EWO
 Harley-Davidson Inc   Implemented average 2% pricing
  HOG.N                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.  urn:newsml:reuters.com:*:nFWN2OX0V0
 Nucor Corp  NUE.N     Primary drivers for expected increase
                       in earnings in the third quarter are
                       improved pricing and margins in its
                       steel mills segment.  urn:newsml:reuters.com:*:nASA02ERL
 Halliburton Co        Expects increasing demand and
  HAL.N                tightening equipment capacity to lead
                       to higher prices.  urn:newsml:reuters.com:*:nL1N2OW0Z4
 Domino's Pizza Inc    Second-quarter results were partly
  DPZ.N                driven by a balance of more items per
                       order, modest menu price and delivery
                       fee increases.  urn:newsml:reuters.com:*:nL4N2OY24W
 Conagra Brands Inc    Said it would have to be aggressive
 CAG.N>                going forward while discussing price
                       increases.  urn:newsml:reuters.com:*:nL4N2OP2MA
 Travelers Co Inc      Expects price rises to keep exceeding
  TRV.N                the increase in losses, or payouts, in
                       its commercial lines of business.
                        urn:newsml:reuters.com:*:nL1N2OW0XM
 
 (Reporting by Praveen Paramasivam in Bengaluru; editing by
Uttaresh.V)
 ((Praveen.Paramasivam@thomsonreuters.com;))