Welcome to our dedicated page for Oil-Dri Corporation of America news (Ticker: ODC), a resource for investors and traders seeking the latest updates and insights on Oil-Dri Corporation of America stock.
Oil-Dri Corporation of America (NYSE: ODC) is a prominent manufacturer and supplier of high-quality sorbent products, chiefly derived from clay. Established in 1941, the company has evolved over 80 years into a leading player within consumer and business-to-business markets, offering diverse products that leverage their mineral expertise.
Oil-Dri operates through two main segments: Retail and Wholesale Products Group and Business to Business Products Group. The company's varied product range includes well-known brands like Cat's Pride, Jonny Cat, Amlan, Agsorb, Verge, Pure-Flo, and Ultra-Clear. Their offerings extend to cat litter, floor absorbent products, toxin control substances for livestock, and agricultural chemical carriers, providing essential solutions across multiple industries.
Recently, Oil-Dri has achieved substantial milestones. As per their fiscal first quarter of 2024, the company posted its sixth consecutive quarter of record net sales and eighth consecutive quarter of record gross profit. CEO Daniel S. Jaffee highlighted the doubling of net income to an all-time high, reflecting the company’s robust financial health and strategic growth initiatives.
The company is committed to innovation, as evidenced by Amlan International, its animal health division. Amlan continues to showcase their advanced mineral-based feed additives globally, participating in significant industry events like the International Production and Processing Expo (IPPE) and AMVECAJ International Congress. These efforts underline Amlan's dedication to enhancing animal health and production efficiency using natural solutions.
Furthermore, Oil-Dri has expanded its market presence through strategic acquisitions, such as the recent purchase of Ultra Pet for $46 million. Ultra Pet is renowned for its innovative crystal cat litter products, like Litter Pearls, which align well with Oil-Dri's existing product portfolio.
Oil-Dri's vertical integration streamlines every process step, from research and development to supply chain management and marketing, ensuring product quality and customer satisfaction. The company’s ethical and moral values, combined with a passion for excellence, underpin their mission to create value from sorbent minerals, continuously enhancing the value delivered to customers.
Oil-Dri of America (NYSE: ODC) has announced quarterly cash dividends of $0.155 per share for Common Stock and $0.1165 per share for Class B Stock. The company is implementing a two-for-one stock split through a stock dividend, with stockholders of record as of December 20, 2024, receiving one additional share for each share held. The additional shares will be distributed after market close on January 3, 2025. The cash dividends will be paid on March 7, 2025, to stockholders of record as of February 21, 2025.
Oil-Dri has maintained continuous cash dividend payments since 1974 and has increased dividends annually for twenty-one consecutive years.
Oil-Dri of America (NYSE: ODC) reported record results for Q1 FY2025, with consolidated net sales reaching $127.9 million, a 15% increase year-over-year. The company achieved significant growth metrics including:
- Net income increased 52% to $16.4 million
- Operating income rose 61% to $21.2 million
- Gross margins expanded to 32%, a 400-basis point improvement
- Business to Business segment sales grew 24% to $48.4 million
- Retail and Wholesale segment sales increased 10% to $79.5 million
The strong performance was driven by increased volumes, favorable product mix, and improved operational efficiencies. The recently acquired Ultra Pet subsidiary contributed $6.0 million in net sales. The company maintained flat domestic cost of goods per ton compared to the prior year.
Oil-Dri of America (NYSE: ODC) announces that Susan Kreh, CFO and CIO, has been awarded the 2024 Financial Executives International (FEI) Chicago CFO of the Year Award in the mid-size public company category. The award recognizes senior financial leaders who have made significant contributions to businesses in the Chicago area. Kreh was honored for her exceptional executive and strategic foresight, and commitment to Oil-Dri's financial growth. CEO Daniel S. Jaffee praised her financial insight and focus on tactical growth as key drivers of the company's success.
Oil-Dri of America has been ranked on Forbes' List of America's Most Successful Small-Cap Companies for 2025, marking its second consecutive year on the list. Forbes analyzed 914 companies with market values between $300 million and $2 billion, ultimately selecting 322 companies based on criteria including positive sales growth and minimum share price of $5. Rankings were determined by evaluating earnings growth, sales growth, return on equity, and total stock return over both the latest twelve months and five-year periods.
The company, a leading manufacturer of specialty sorbent products, serves various markets including pet care, animal health, and industrial applications. With over 80 years of experience, Oil-Dri maintains vertical integration across its operations from research and development to sales.
Oil-Dri of America (NYSE: ODC) has been awarded a 2024 Chicagoland Top Workplace recognition by the Chicago Tribune, marking their seventh time receiving this honor. The award was determined through confidential employee surveys measuring workplace experience, including factors like respect, support, growth opportunities, and empowerment.
CEO Daniel S. Jaffee emphasized the company's commitment to maintaining high ethical standards and their 'We Care' values. The company, with over 80 years of experience, specializes in sorbent products for various markets including pet care, animal health, bleaching clay, fluids purification, agricultural ingredients, sports field, industrial, and automotive sectors.
Oil-Dri of America (NYSE: ODC) has announced price increases ranging from 5% to 8% on its industrial, automotive, and sports field products, effective November 1, 2024. The company states these pricing adjustments are necessary to offset higher costs and support continued investments in manufacturing infrastructure improvements. Oil-Dri is a vertically integrated manufacturer and supplier of specialty sorbent products serving various markets including pet care, animal health, bleaching clay, fluids purification, agricultural ingredients, sports field, industrial, and automotive sectors.
Oil-Dri of America (NYSE: ODC) has scheduled its first quarter fiscal 2025 earnings release for December 9, 2024, after market close. The company will host a combined Q1 FY2025 earnings discussion and FY2024 Annual Meeting of Stockholders via webcast on December 11, 2024, at 9:30 a.m. Central Time. The voting eligibility record date was October 14, 2024. The webcast will be available for replay on the company's website under Quarterly Archives.
Amlan International, the animal health division of Oil-Dri of America (NYSE: ODC), has announced a strategic partnership with VetPro as its new distributor in Northern Brazil. The collaboration focuses on distributing Amlan's flagship products, Calibrin-Z and Varium, in Brazil's animal nutrition sector, which produced 81.1 million metric tons of feed in 2022. VetPro will leverage its regional expertise and distribution network to promote these mineral-based feed additives, which protect against mycotoxins and enhance gut health in livestock and poultry. This partnership aims to expand Amlan's market presence in one of Brazil's most dynamic livestock markets.
Amlan International, a subsidiary of Oil-Dri of America (NYSE: ODC), has appointed Pinyo Kantasakorn as Regional Sales Manager for the Asia Pacific region. With over 18 years of experience in animal nutrition sales, Pinyo will drive Amlan's growth and market presence in the area. His responsibilities include developing new customers and markets, maintaining client relationships, and working with regional partners to enhance Amlan's reach.
Pinyo holds a bachelor's degree in animal science and an MBA. Dr. Michael Hua, Regional Director Asia Pacific, expressed enthusiasm about Pinyo's role in delivering innovative mineral technology solutions, including natural feed additives Calibrin-Z®, Calibrin-A®, Varium®, and the upcoming launch of Phylox®. Dr. Wade Robey, President of Amlan International, emphasized Pinyo's importance in expanding the company's footprint in the Asia Pacific region.
Oil-Dri of America (NYSE: ODC) reported record sales and gross profit for Q4 and the highest annual net income in company history for fiscal year 2024. Highlights include:
- Consolidated net sales reached $437.6 million, up 6% year-over-year
- Record annual net income of $39.4 million, a 33% increase
- Q4 net sales hit $113.7 million, up 6% from the previous year
- Acquisition of Ultra Pet Company contributed to growth
- Strong performance in cat litter and fluids purification businesses
- Gross margins expanded to 29% in FY2024 from 25% in FY2023
- Operating income increased 26% to $51.6 million for the full year
The company saw growth across its Business to Business and Retail & Wholesale segments, driven by higher pricing, increased demand for fluid purification products, and the Ultra Pet acquisition.
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