Aug 2 (Reuters) - A slew of major U.S. companies that are
reeling from the impact of high prices of raw materials,
increased labor expenses and supply-chain woes are raising
product prices as demand for several goods rebound with the
reopening of the economy.
Below are the comments from U.S. companies on their efforts
to counter an inflationary environment:
Procter & Gamble Co Expects a roughly $1.9 billion
after-tax hit from input costs this
year, which it plans to offset through
cost cuts and further price hikes.
Mohawk Industries Said material, energy and
Inc transportation inflation is expected
to continue and further price hikes
will be required actions to offset its
Yum Brands Inc Increased pricing moderately across
brands in the United States to deal
Starbucks Corp Said price increases helped offset
sizable wages investments, higher
supply chain costs in the third
Sherwin-Williams Co Implemented price increases to offset
significant, sustained raw material
Kraton Corp Announced price increase for certain
products due to higher raw material
and logistic costs.
Oil-Dri Corp of Announced a 5% to 9% increase in price
America of some products from Sept. 1.
Caterpillar Inc Said it has carried out price
increases twice this year to offset
higher raw material costs.
General Electric Co Said it is managing the inflationary
pressure partly through price
Mattel Inc Announced it would raise prices in the
second half of the year to cover
higher commodity and transportation
Mondelez Said it plans to counter rising raw
International Inc material costs by increasing product
prices and reducing packaging
McDonald's Corp Said its prices were around 6% higher
from a year earlier in the second
Lamb Weston Holdings Said it expects margins to return to
Inc pre-pandemic levels in the second half
of fiscal 2022 thanks to price
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
U.S. Silica Holdings Prices hikes of certain industrial and
Inc specialty products to offset jumps in
energy, transportation, materials and
manufacturing costs will range up to
15% and go into effect for shipments
from 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
Otis Worldwide Corp Broadening the price increases
announced last quarter to include
additional markets to help alleviate
the incremental commodity cost impact
this year and in 2022.
RPM International Its consumer group is working with
Inc customers for more price hikes to
address first-half margin pressure.
Said it is going forward with price
increase in the next month across its
Hasbro Inc Higher costs have forced Hasbro to
announce price increases for toys in
the third and fourth quarter.
Kimberly-Clark Corp Increased prices to offset higher raw
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
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
Conagra Brands Inc Said it would have to be aggressive
CAG.N> going forward while discussing price
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 and Aditya Soni)