Oil-Dri Announces Price Increases for its Fluid Purification Products

Rhea-AI Summary

Oil-Dri Corporation of America (NYSE: ODC) announced a price increase for its fluid purification products, effective January 1, 2022. The hikes will be up to 10%, driven by significant inflation in key costs such as natural gas, diesel, packaging, and non-fuel manufacturing. The company emphasizes that these adjustments are essential to navigate the rising expenses. Sales representatives will provide customers with further details regarding the changes.

Positive

• Price increase may help offset rising costs and stabilize profit margins.

Negative

• Inflation pressures could lead to decreased demand if customers are unwilling to absorb higher prices.

CHICAGO, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC) today announced that it will increase prices for its fluid purification products. The price increases, effective January 1, 2022, will range up to 10% depending on the product.

These pricing actions are necessary as the company is facing significant inflation across many key cost inputs, including natural gas, diesel, packaging, and non-fuel manufacturing costs.

Oil-Dri sales representatives will communicate additional details of the price increases 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.

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

 

FAQ

What is the effective date for Oil-Dri's price increase?

Oil-Dri's price increase for fluid purification products is effective January 1, 2022.

How much will Oil-Dri increase its product prices?

The price increases will range up to 10%, depending on the product.

What is causing the price increases at Oil-Dri?

The price increases are due to significant inflation across key cost inputs like natural gas, diesel, packaging, and non-fuel manufacturing.

How will customers be informed about the price increases?

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