Oil-Dri Announces Price Increases for its Sports Field Products

Rhea-AI Summary

Oil-Dri Corporation of America (NYSE: ODC) announced price increases for its sports field products, set to take effect on August 1, 2022. This decision is driven by rising inflationary pressures affecting key operational costs, including diesel, natural gas, and labor rates at manufacturing facilities. Sales representatives from Pro’s Choice will provide customers with specific details regarding the upcoming price changes.

Positive

• Price increases may help offset inflationary pressures and stabilize profit margins.

Negative

• Rising operational costs could continue to impact profit margins negatively if pricing adjustments are insufficient.

CHICAGO, July 12, 2022 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC) today announced that it will implement price increases for its sports field products, effective August 1, 2022.

These pricing actions are driven by inflationary pressures on diesel, mining, maintenance and repairs, natural gas, packaging, and other non-fuel manufacturing costs, including significant increases in labor rates at our manufacturing facilities.  

Pro’s Choice sales representatives will communicate additional 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 Oil-Dri, please visit oildri.com. To learn more about Pro’s Choice, please visit proschoice1.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 Oil-Dri Corporation's stock symbol?

The stock symbol for Oil-Dri Corporation is ODC.

When will Oil-Dri's price increases for sports field products take effect?

The price increases for sports field products will take effect on August 1, 2022.

What factors are driving Oil-Dri Corporation to increase prices?

The price increases are driven by inflationary pressures on diesel, mining, maintenance costs, natural gas, packaging, and rising labor rates.

How can customers learn about the price increases from Oil-Dri Corporation?

Pro's Choice sales representatives will communicate additional details of the price increases directly to customers.