Oil-Dri Announces Plans to Raise Prices on its U.S. and Canadian Branded and Private Label Cat Litter Products

Rhea-AI Summary

Oil-Dri Corporation of America (NYSE: ODC) has announced plans to increase prices for its cat litter products in the U.S. and Canada during Q2 of fiscal year 2022. This decision comes in response to ongoing inflationary pressures affecting key costs such as freight, packaging, materials, and manufacturing. Despite efforts to optimize operational expenses, the company stated that price adjustments are necessary to uphold product quality and service levels. Specific details regarding the price increase will be communicated directly to customers by sales representatives.

Positive

• Price increase allows Oil-Dri to maintain product quality amid rising costs.

Negative

• Inflationary pressures continue to impact key cost inputs, indicating ongoing cost challenges.

CHICAGO, Oct. 14, 2021 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC) today announced that it is notifying customers of plans to raise prices of its cat litter products during the second quarter of fiscal year 2022. These pricing actions will apply to branded and private label cat litter products sold within the United States and Canada.

Inflationary pressure has continued to affect many key cost inputs, including freight, packaging, materials, natural gas, and non-fuel manufacturing costs. Despite expense and operational optimization efforts, Oil-Dri must implement price increases in order to offset these elevated costs and maintain the high quality of its products and service levels.

Oil-Dri sales representatives will communicate specific details of the price increase to their customers directly.

About Oil-Dri
Oil-Dri Corporation of America is a leading manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, bleaching clay and 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 80 years of experience, the Company continues to fulfill its mission to Create Value from Sorbent Minerals. To learn more about the Company, visit oildri.com.

Category: Company News

Contact:
Leslie A. Garber
Manager of Investor Relations
Oil-Dri Corporation of America
InvestorRelations@oildri.com
(312) 321-1515

FAQ

When will Oil-Dri Corporation raise prices for cat litter products?

Oil-Dri Corporation plans to increase prices during the second quarter of fiscal year 2022.

What is causing the price increase for Oil-Dri's cat litter?

The price increase is primarily due to inflationary pressures affecting costs such as freight, packaging, and materials.

Which markets will be affected by the price increase of Oil-Dri cat litter?

The price increase will apply to both the U.S. and Canada markets.

How does Oil-Dri plan to communicate the price increase to customers?

Oil-Dri's sales representatives will communicate specific details of the price increase directly to their customers.

What is Oil-Dri Corporation's stock symbol?

The stock symbol for Oil-Dri Corporation is ODC.