If you haven’t heard much about pricing power this earnings season, there’s a good reason: There’s not much to consider. Many companies that have chosen to pass higher costs on to consumers in the form of price increases are seeing lower output. There are a number of reasons for this, including tougher comparisons to last year’s results, lower demand and limited supply. Even so, there are some companies – like most (but not all) travel agencies – that are still exhibiting strong pricing power. Outside of travel, a good example is Goodyear Tire, which announced its second-quarter results on Friday morning. Tire manufacturers continue to perform very well despite raw material inflation pressures. Its earnings per share easily beat analyst estimates of 10 cents, and the stock is trading higher. Net income rose to $166 million, or 58 cents per share, from $67 million, or 27 cents per share, a year ago. Excluding commodities, Goodyear earned 46 cents per share, while analysts surveyed by Refinitiv had predicted a profit of 36 cents per share. “Price/mix has exceeded raw materials by more than $140 million,” said Goodyear. Impressively. Notably, it also made similar comments in previous quarters. Volume is still up 7% in its legacy business. (You still have to change your car’s tires now that everyone’s back on the road again!) The flip side of pricing power is the issue of price ceilings. It’s not yet clear if we’ll see a sign of a price ceiling, but it’s something to watch out for. On Monday, Avis Budget’s earnings report said it saw strong demand in the second quarter, but its average rate increased only 2% in the Americas segment. Another surprising example is on the Thursday after the market closes. Expedia – like all travel agencies – is reaping the benefits of pent-up vacation demand. Bookings are at record levels. But the average daily booking rate only increased by 3%. Admittedly, the rate has overcome difficult comparisons. Last year, the index rose 49% in the second quarter. In the first quarter, interest rates also increased only 4% year-on-year. But Expedia’s numbers don’t match what we’re seeing across most of the lodging industry. Booking Holdings shows strong growth rates still in its latest results. So is Airbnb. And the situation remains strong at both Hilton and Marriott. So it’s a bit of an odd situation for Expedia, which makes it worth watching over the next three to six months to see if other travel agencies see any leveling off in rates. .