Oil-Dri Announces Highest Second Quarter Results on Record
Oil-Dri (NYSE: ODC) reported record-breaking second quarter fiscal 2025 results, with net sales reaching $116.9 million, an 11% increase year-over-year. The growth comprised 7% organic growth and 4% from Ultra Pet Company acquisition.
Key financial highlights include:
- Gross profit of $34.4 million, up 11% with margins at 29.5%
- Net income of $12.9 million, a 4% increase
- EBITDA grew 16% to $22.2 million
The B2B Products Group revenue increased 20% to $43.4 million, driven by strong fluids purification and animal health products performance. The Retail and Wholesale Products Group revenue grew 6% to $73.5 million, boosted by Ultra Pet acquisition and increased demand for lightweight and coarse litter products.
Oil-Dri (NYSE: ODC) ha riportato risultati record per il secondo trimestre dell'anno fiscale 2025, con vendite nette che hanno raggiunto 116,9 milioni di dollari, un incremento dell'11% rispetto all'anno precedente. La crescita è stata composta da un aumento organico del 7% e un 4% derivante dall'acquisizione di Ultra Pet Company.
I principali risultati finanziari includono:
- Un profitto lordo di 34,4 milioni di dollari, in aumento dell'11% con margini al 29,5%
- Un reddito netto di 12,9 milioni di dollari, con un incremento del 4%
- EBITDA cresciuto del 16% a 22,2 milioni di dollari
Il fatturato del Gruppo Prodotti B2B è aumentato del 20% a 43,4 milioni di dollari, sostenuto da una forte performance dei prodotti per la purificazione dei fluidi e della salute animale. Il fatturato del Gruppo Prodotti Retail e All'ingrosso è cresciuto del 6% a 73,5 milioni di dollari, grazie all'acquisizione di Ultra Pet e all'aumento della domanda per prodotti di lettiera leggeri e grossolani.
Oil-Dri (NYSE: ODC) reportó resultados récord en el segundo trimestre del año fiscal 2025, con ventas netas alcanzando 116.9 millones de dólares, un aumento del 11% en comparación con el año anterior. El crecimiento consistió en un 7% de crecimiento orgánico y un 4% proveniente de la adquisición de Ultra Pet Company.
Los principales aspectos financieros incluyen:
- Una ganancia bruta de 34.4 millones de dólares, un aumento del 11% con márgenes del 29.5%
- Un ingreso neto de 12.9 millones de dólares, un incremento del 4%
- EBITDA creció un 16% a 22.2 millones de dólares
Los ingresos del Grupo de Productos B2B aumentaron un 20% a 43.4 millones de dólares, impulsados por un sólido desempeño en productos de purificación de fluidos y salud animal. Los ingresos del Grupo de Productos Minoristas y Mayoristas crecieron un 6% a 73.5 millones de dólares, impulsados por la adquisición de Ultra Pet y el aumento de la demanda de productos de lecho ligero y grueso.
Oil-Dri (NYSE: ODC)는 2025 회계연도 2분기 실적에서 기록적인 결과를 발표했으며, 순매출이 1억 1,690만 달러에 도달하여 전년 대비 11% 증가했습니다. 이 성장은 7%의 유기적 성장과 Ultra Pet Company 인수로 인한 4%의 성장을 포함합니다.
주요 재무 하이라이트는 다음과 같습니다:
- 총 이익 3,440만 달러, 11% 증가, 마진 29.5%
- 순이익 1,290만 달러, 4% 증가
- EBITDA는 16% 증가하여 2,220만 달러
B2B 제품 그룹의 수익은 4,340만 달러로 20% 증가했으며, 이는 강력한 유체 정화 및 동물 건강 제품의 성과에 힘입은 것입니다. 소매 및 도매 제품 그룹의 수익은 7,350만 달러로 6% 증가했으며, 이는 Ultra Pet 인수와 경량 및 거친 배설물 제품에 대한 수요 증가에 힘입은 것입니다.
Oil-Dri (NYSE: ODC) a annoncé des résultats record pour le deuxième trimestre de l'exercice 2025, avec des ventes nettes atteignant 116,9 millions de dollars, soit une augmentation de 11% par rapport à l'année précédente. La croissance se compose de 7% de croissance organique et de 4% provenant de l'acquisition d'Ultra Pet Company.
Les principaux faits financiers incluent :
- Un bénéfice brut de 34,4 millions de dollars, en hausse de 11% avec des marges à 29,5%
- Un revenu net de 12,9 millions de dollars, une augmentation de 4%
- EBITDA a augmenté de 16% pour atteindre 22,2 millions de dollars
Les revenus du Groupe Produits B2B ont augmenté de 20% pour atteindre 43,4 millions de dollars, soutenus par des performances solides dans les produits de purification des fluides et de santé animale. Les revenus du Groupe Produits de Détail et de Gros ont augmenté de 6% pour atteindre 73,5 millions de dollars, stimulés par l'acquisition d'Ultra Pet et l'augmentation de la demande pour des produits de litière légers et grossiers.
Oil-Dri (NYSE: ODC) hat im zweiten Quartal des Geschäftsjahres 2025 Rekordzahlen gemeldet, mit einem Nettoumsatz von 116,9 Millionen Dollar, was einem Anstieg von 11% im Jahresvergleich entspricht. Das Wachstum setzte sich aus 7% organischem Wachstum und 4% aus der Übernahme von Ultra Pet Company zusammen.
Wichtige finanzielle Höhepunkte sind:
- Bruttogewinn von 34,4 Millionen Dollar, ein Anstieg von 11% mit einer Marge von 29,5%
- Nettoeinkommen von 12,9 Millionen Dollar, ein Anstieg von 4%
- EBITDA stieg um 16% auf 22,2 Millionen Dollar
Der Umsatz der B2B-Produktegruppe stieg um 20% auf 43,4 Millionen Dollar, angetrieben durch eine starke Leistung im Bereich der Flüssigkeitsreinigung und Tiergesundheitsprodukte. Der Umsatz der Einzel- und Großhandelsproduktegruppe wuchs um 6% auf 73,5 Millionen Dollar, unterstützt durch die Übernahme von Ultra Pet und die steigende Nachfrage nach leichten und groben Streuprodukten.
- Record-breaking Q2 results with 11% revenue growth to $116.9M
- 15th consecutive quarter of year-over-year sales growth
- 16% EBITDA growth to $22.2M
- B2B segment showed strong 20% growth
- Paid down remaining $5M of revolving credit facility
- Animal health business revenue up 82%
- Fluids purification sales increased 17%
- Agricultural products revenue declined 1%
- Co-packaged coarse cat litter revenue decreased 25%
- Higher interest expenses due to Ultra Pet acquisition debt
- Increased SG&A expenses by $1.2M or 8%
- R&W Products Group operating income decreased 5%
- Higher material, freight, and packaging costs
Insights
Oil-Dri 's Q2 fiscal 2025 results demonstrate exceptional financial performance with record-breaking metrics across the board. The company achieved
The company's profitability metrics are particularly impressive: gross profit increased
The B2B segment emerged as the standout performer with revenues up
Oil-Dri's financial discipline is evident in its debt reduction – paying down the remaining
Oil-Dri's Q2 results reveal a company executing a sophisticated strategic pivot toward higher-margin segments while successfully integrating an acquisition. The
Similarly, the
The Ultra Pet acquisition appears well-timed, instantly securing Oil-Dri's position in the premium crystal cat litter market – a segment likely growing faster than traditional clay litter. This acquisition contributed
Management's emphasis on "optimizing product mix" is the key strategic thread connecting these moves. By shifting resources toward higher-value applications of their mineral expertise (fluids purification, animal health) while maintaining their retail presence, Oil-Dri is reducing reliance on more commoditized categories.
The company's investment in data analytics further signals a more sophisticated approach to identifying growth opportunities across their portfolio. The significant doubling of sales for their EPA-approved antibacterial litter product demonstrates their ability to innovate successfully in established categories. These strategic shifts help explain how Oil-Dri has achieved ten consecutive quarters of margin expansion despite inflationary pressures.
CHICAGO, March 11, 2025 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC), producer and marketer of sorbent mineral products, today announced results for its second quarter and first six-months of fiscal year 2025.
| Second Quarter | Year to Date | |||||||||||||||||
| (in thousands, except per share amounts) | Ended January 31, | Ended January 31, | ||||||||||||||||
| 2025 | 2024 | Change | 2025 | 2024 | Change | |||||||||||||
| Consolidated Results | ||||||||||||||||||
| Net Sales | $ | 116,914 | $ | 105,668 | 11 | % | $ | 244,859 | $ | 217,106 | 13 | % | ||||||
| Operating Income * | $ | 17,482 | $ | 15,165 | 15 | % | $ | 38,672 | $ | 28,321 | 37 | % | ||||||
| Net Income | $ | 12,921 | $ | 12,382 | 4 | % | $ | 29,297 | $ | 23,124 | 27 | % | ||||||
| EBITDA † | $ | 22,216 | $ | 19,233 | 16 | % | $ | 48,383 | $ | 36,617 | 32 | % | ||||||
| Diluted EPS - Common ‡ | $ | 0.89 | $ | 0.85 | 5 | % | $ | 2.01 | $ | 1.60 | 26 | % | ||||||
| Business to Business | ||||||||||||||||||
| Net Sales | $ | 43,416 | $ | 36,234 | 20 | % | $ | 91,831 | $ | 75,395 | 22 | % | ||||||
| Segment Operating Income | $ | 14,322 | $ | 10,985 | 30 | % | $ | 31,432 | $ | 22,108 | 42 | % | ||||||
| Retail and Wholesale | ||||||||||||||||||
| Net Sales | $ | 73,498 | $ | 69,434 | 6 | % | $ | 153,028 | $ | 141,711 | 8 | % | ||||||
| Segment Operating Income | $ | 11,328 | $ | 11,877 | (5 | )% | $ | 24,705 | $ | 23,208 | 6 | % | ||||||
| * Includes unallocated corporate expenses † Please refer to Reconciliation of Non-GAAP Financial Measures below for a reconciliation of Non-GAAP items to the comparable GAAP measures. ‡ Prior year per share figures have be updated to reflect the stock-split | ||||||||||||||||||
Daniel S. Jaffee, President and Chief Executive Officer, stated, “I am pleased to announce we have achieved our highest second quarter net sales, gross profit and net income on record. We effectively implemented our strategies to significantly grow our fluids purification and animal health businesses, as well as secure a position in the crystal cat litter market. A focus on optimizing product mix helped generate the 15th consecutive quarter of year-over-year sales growth and the 12th consecutive quarter of year-over-year gross profit improvement. Our strong operating results allowed us to invest heavily in our manufacturing infrastructure, pay down debt, and return value to shareholders through dividends. As we move forward into the second half of our fiscal year, we remain dedicated to driving sustainable growth while executing on our strategic vision with discipline and efficiency.”
Consolidated Results
Consolidated net sales for the second quarter of fiscal 2025 reached
Consolidated gross profit of
Selling, general and administrative expenses (“SG&A”) were
In the second quarter of fiscal year 2025, consolidated operating income increased to
Total other expense, net was
During the second quarter of fiscal 2025, income tax expense increased to
Consolidated net income for the second quarter of fiscal year 2025 was
Cash and cash equivalents as of January 31, 2025, totaled
Product Group Review
The Business to Business (“B2B”) Products Group’s second quarter of fiscal year 2025 revenues were
During the second quarter of fiscal year 2025, SG&A costs within the B2B Products Group decreased by
Operating income for the B2B Products Group was
The Retail and Wholesale (“R&W”) Products Group’s second quarter revenues reached
During the second quarter of fiscal 2025, SG&A expenses within the R&W Products Group increased by
Operating income for the R&W Products Group was
The Company will host its second quarter of fiscal year 2025 earnings discussion via a live webcast on Wednesday, March 12, 2025 at 10:00 a.m. Central Time. Participation details are available on the Company’s website’s Events page.
“Oil-Dri”, “Cat’s Pride”, “Metal X”, “Metal Z”, and “Amlan” are registered trademarks of Oil-Dri Corporation of America and its subsidiaries.
About Oil-Dri Corporation of America
Oil-Dri Corporation of America is a leading manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. Oil-Dri is vertically integrated which enables the Company to efficiently oversee every step of the process from research and development to supply chain to marketing and sales. With over 80 years of experience, the Company continues to fulfill its mission to Create Value from Sorbent Minerals.
Forward-Looking Statements
Certain statements in this press release may constitute forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are based on management’s current expectations, estimates, forecasts, assumptions and projections about future events, our future performance, the future of our business, our plans and strategies, projections, anticipated trends, the economy and other future developments and their potential effects on us. In addition, we, or others on our behalf, may make forward-looking statements in other press releases or written statements, or in our communications and discussions with investors and analysts in the normal course of business through meetings, webcasts, phone calls and conference calls. Forward-looking statements can be identified by words such as “expect,” “outlook,” “forecast,” “would,” “could,” “should,” “project,” “intend,” “plan,” “continue,” “believe,” “seek,” “estimate,” “anticipate,” “may,” “assume,” “potential,” “strive,” and similar references to future periods.
Such statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those anticipated, intended, expected, believed, estimated, projected, planned or otherwise expressed in any forward-looking statements, including, but not limited to, those described in our most recent Annual Report on Form 10-K and from time to time in our other filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except to the extent required by law, we do not have any intention or obligation to update publicly any forward-looking statements after the distribution of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.
Non-GAAP Financial Measures
To supplement our consolidated financial statements prepared in accordance with generally accepted accounting principles (“GAAP”), we provide certain non-GAAP financial measures in this press release as supplemental financial metrics. In particular, EBITDA is a non-GAAP financial measure provided herein. We provide a reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure below.
The non-GAAP financial measures we use may not be the same or calculated in the same manner as those used and calculated by other companies. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our financial results prepared and reported in accordance with GAAP. We believe that certain non-GAAP measures may be helpful to investors and others in understanding and evaluating our operating results, and we urge investors to review the reconciliation of non-GAAP financial measures to the comparable GAAP financial measures included in this release, and not to rely on any single financial measure to evaluate our business.
Contact:
Leslie A. Garber
Director of Investor Relations
Oil-Dri Corporation of America
InvestorRelations@oildri.com
(312) 321-1515
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||||
| (in thousands, except per share amounts) | ||||||||||||||||||
| Second Quarter Ended January 31, | ||||||||||||||||||
| 2025 | % of Sales | 2024 | % of Sales | |||||||||||||||
| Net Sales | $ | 116,914 | 100.0 | % | $ | 105,668 | 100.0 | % | ||||||||||
| Cost of Goods Sold | (82,466 | ) | (70.5 | ) | % | (74,726 | ) | (70.7 | ) | % | ||||||||
| Gross Profit | 34,448 | 29.5 | % | 30,942 | 29.3 | % | ||||||||||||
| Selling, General and Administrative Expenses | (16,966 | ) | (14.5 | ) | % | (15,777 | ) | (14.9 | ) | % | ||||||||
| Operating Income | 17,482 | 15.0 | % | 15,165 | 14.4 | % | ||||||||||||
| Other Expense, Net | (1,222 | ) | (1.0 | ) | % | (483 | ) | (0.5 | ) | % | ||||||||
| Income Before Income Taxes | 16,260 | 13.9 | % | 14,682 | 13.9 | % | ||||||||||||
| Income Taxes Expense | (3,339 | ) | (2.9 | ) | % | (2,300 | ) | (2.2 | ) | % | ||||||||
| Net Income | 12,921 | 11.1 | % | 12,382 | 11.7 | % | ||||||||||||
| Net Income Per Share: | Basic Common | $ | 0.95 | $ | 0.92 | |||||||||||||
| Basic Class B | $ | 0.72 | $ | 0.69 | ||||||||||||||
| Diluted Common | $ | 0.89 | $ | 0.85 | ||||||||||||||
| Diluted Class B | $ | 0.72 | $ | 0.69 | ||||||||||||||
| Avg Shares Outstanding: | Basic Common | 9,895 | 9,766 | |||||||||||||||
| Basic Class B | 4,004 | 3,955 | ||||||||||||||||
| Diluted Common | 13,899 | 13,721 | ||||||||||||||||
| Diluted Class B | 4,004 | 3,955 | ||||||||||||||||
Note all prior period share and per-share data has been updated to reflect the stock-split.
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||||
| (in thousands, except per share amounts) | ||||||||||||||||||
| Six Months Ended January 31, | ||||||||||||||||||
| 2025 | % of Sales | 2024 | % of Sales | |||||||||||||||
| Net Sales | $ | 244,859 | 100.0 | % | $ | 217,106 | 100.0 | % | ||||||||||
| Cost of Goods Sold | (169,631 | ) | (69.3 | ) | % | (155,173 | ) | (71.5 | ) | % | ||||||||
| Gross Profit | 75,228 | 30.7 | % | 61,933 | 28.5 | % | ||||||||||||
| Selling, General and Administrative Expenses | (36,556 | ) | (14.9 | ) | % | (33,612 | ) | (15.5 | ) | % | ||||||||
| Operating Income | 38,672 | 15.8 | % | 28,321 | 13.0 | % | ||||||||||||
| Other Expense, Net | (2,210 | ) | (0.9 | ) | % | (809 | ) | (0.4 | ) | % | ||||||||
| Income Before Income Taxes | 36,462 | 14.9 | % | 27,512 | 12.7 | % | ||||||||||||
| Income Taxes Expense | (7,165 | ) | (2.9 | ) | % | (4,388 | ) | (2.0 | ) | % | ||||||||
| Net Income | 29,297 | 12.0 | % | 23,124 | 10.7 | % | ||||||||||||
| Net Income Per Share: | Basic Common | $ | 2.17 | $ | 1.72 | |||||||||||||
| Basic Class B | $ | 1.63 | $ | 1.29 | ||||||||||||||
| Diluted Common | $ | 2.01 | $ | 1.60 | ||||||||||||||
| Diluted Class B | $ | 1.63 | $ | 1.29 | ||||||||||||||
| Avg Shares Outstanding: | Basic Common | 9,870 | 9,712 | |||||||||||||||
| Basic Class B | 3,986 | 3,943 | ||||||||||||||||
| Diluted Common | 13,856 | 13,655 | ||||||||||||||||
| Diluted Class B | 3,986 | 3,943 | ||||||||||||||||
Note all prior period share and per-share data has been updated to reflect the stock-split.
| CONSOLIDATED BALANCE SHEETS | |||||||
| (in thousands, except per share amounts) | |||||||
| As of January 31, | As of July 31, | ||||||
| 2025 | 2024 | ||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $ | 22,589 | $ | 23,481 | |||
| Accounts Receivable, Net | 66,086 | 62,171 | |||||
| Inventories, Net | 55,231 | 54,236 | |||||
| Prepaid Expenses and Other Assets | 5,110 | 7,270 | |||||
| Total Current Assets | 149,016 | 147,158 | |||||
| Property, Plant and Equipment, Net | 137,416 | 137,796 | |||||
| Other Assets | 67,315 | 69,651 | |||||
| Total Assets | $ | 353,747 | $ | 354,605 | |||
| Current Liabilities | |||||||
| Current Maturities of Notes Payable | $ | 1,000 | $ | 1,000 | |||
| Accounts Payable | 14,004 | 15,009 | |||||
| Dividends Payable | 2,097 | 2,096 | |||||
| Other Current Liabilities | 35,089 | 48,572 | |||||
| Total Current Liabilities | 52,190 | 66,677 | |||||
| Noncurrent Liabilities | |||||||
| Long-term debt | 39,796 | 49,774 | |||||
| Other Noncurrent Liabilities | 25,901 | 27,566 | |||||
| Total Noncurrent Liabilities | 65,697 | 77,340 | |||||
| Stockholders' Equity | 235,860 | 210,588 | |||||
| Total Liabilities and Stockholders' Equity | $ | 353,747 | $ | 354,605 | |||
| Book Value Per Share Outstanding | $ | 17.02 | $ | 15.42 | |||
Note all prior period share and per-share data has been updated to reflect the stock-split.
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (in thousands) | |||||||
| For the Six Months Ended | |||||||
| January 31, | |||||||
| 2025 | 2024 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
| Net Income | $ | 29,297 | $ | 23,124 | |||
| Adjustments to reconcile net income to net cash | |||||||
| provided by operating activities: | |||||||
| Depreciation and Amortization | 10,817 | 8,854 | |||||
| Increase in Accounts Receivable | (4,424 | ) | (64 | ) | |||
| Increase in Inventories | (1,394 | ) | (3,666 | ) | |||
| Increase (Decrease) in Prepaid Expenses | 1,019 | (3,217 | ) | ||||
| Increase (Decrease) in Accounts Payable | 1,989 | (3,243 | ) | ||||
| Decrease in Accrued Expenses | (8,371 | ) | (7,582 | ) | |||
| Other | 3,397 | 3,739 | |||||
| Total Adjustments | 3,033 | (5,179 | ) | ||||
| Net Cash Provided by Operating Activities | 32,330 | 17,945 | |||||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||
| Capital Expenditures | (17,806 | ) | (15,546 | ) | |||
| Acquisition of Business | (115 | ) | — | ||||
| Net Cash Used in Investing Activities | (17,921 | ) | (15,546 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||
| Payments on Revolving Credit Facility | (10,000 | ) | — | ||||
| Dividends Paid | (4,194 | ) | (3,889 | ) | |||
| Purchases of Treasury Stock | (2,164 | ) | (2,575 | ) | |||
| Net Cash Used In Financing Activities | (16,358 | ) | (6,464 | ) | |||
| Effect of exchange rate changes on Cash and Cash Equivalents | 57 | 111 | |||||
| Net Decrease in Cash and Cash Equivalents | (1,892 | ) | (3,954 | ) | |||
| Cash and Cash Equivalents, Beginning of Period | 24,481 | 31,754 | |||||
| Cash and Cash Equivalents, End of Period | $ | 22,589 | $ | 27,800 | |||
| RECONCILIATION OF NON-GAAP FINANCIAL MEASURES | |||||||||||||||
| (in thousands) | |||||||||||||||
| Second Quarter | Year to Date | ||||||||||||||
| Ended January 31, | Ended January 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| GAAP: Net Income | $ | 12,921 | $ | 12,382 | $ | 29,297 | $ | 23,124 | |||||||
| Depreciation and Amortization | $ | 5,436 | $ | 4,486 | $ | 10,817 | $ | 8,854 | |||||||
| Interest Expense | $ | 606 | $ | 362 | $ | 1,340 | $ | 723 | |||||||
| Interest Income | $ | (86 | ) | $ | (297 | ) | $ | (236 | ) | $ | (472 | ) | |||
| Income Tax Expense | $ | 3,339 | $ | 2,300 | $ | 7,165 | $ | 4,388 | |||||||
| EBITDA | $ | 22,216 | $ | 19,233 | $ | 48,383 | $ | 36,617 | |||||||
FAQ
What was Oil-Dri's (ODC) revenue growth in Q2 2025?
How much did Oil-Dri's (ODC) B2B segment grow in Q2 2025?
What was Oil-Dri's (ODC) EBITDA performance in Q2 2025?
How did Oil-Dri's (ODC) gross margins perform in Q2 2025?
What was Oil-Dri's (ODC) cash position as of January 31, 2025?
