Oil-Dri Announces Price Increases for its U.S. Branded and Private Label Cat Litter Products
Oil-Dri Corporation of America (NYSE: ODC) announced a price increase for its cat litter products, effective April 1, 2022. This decision comes in response to significant increases in key costs, including freight, packaging, materials, natural gas, and non-fuel manufacturing. President and CEO Daniel S. Jaffee emphasized the necessity of raising prices to mitigate inflationary pressures on the company's financial health. Specific details of the price increase will be communicated directly to customers by sales representatives.
- Price increase may help offset rising costs and protect profit margins.
- Company's commitment to maintaining product availability during economic challenges.
- Rising costs of freight, packaging, materials, and natural gas may continue to strain profit margins.
CHICAGO, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC) today announced that it will increase prices for its cat litter products effective April 1, 2022. These pricing actions will apply to branded and private label cat litter items sold within the United States.
The Company continues to experience substantial increases in freight, packaging, materials, natural gas, and non-fuel manufacturing costs, all of which are key components of its cat litter products.
Daniel S. Jaffee, President and Chief Executive Officer, stated, “We continue to work closely with customers and supply chain partners to keep our high quality products on retail shelves during this challenging economic environment. Along with this dedication comes the necessity to raise prices in order to mitigate these inflationary cost pressures on our bottom line.”
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
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