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Oil-Dri Corporation of America (NYSE: ODC) is a prominent manufacturer and supplier of high-quality sorbent products, chiefly derived from clay. Established in 1941, the company has evolved over 80 years into a leading player within consumer and business-to-business markets, offering diverse products that leverage their mineral expertise.
Oil-Dri operates through two main segments: Retail and Wholesale Products Group and Business to Business Products Group. The company's varied product range includes well-known brands like Cat's Pride, Jonny Cat, Amlan, Agsorb, Verge, Pure-Flo, and Ultra-Clear. Their offerings extend to cat litter, floor absorbent products, toxin control substances for livestock, and agricultural chemical carriers, providing essential solutions across multiple industries.
Recently, Oil-Dri has achieved substantial milestones. As per their fiscal first quarter of 2024, the company posted its sixth consecutive quarter of record net sales and eighth consecutive quarter of record gross profit. CEO Daniel S. Jaffee highlighted the doubling of net income to an all-time high, reflecting the company’s robust financial health and strategic growth initiatives.
The company is committed to innovation, as evidenced by Amlan International, its animal health division. Amlan continues to showcase their advanced mineral-based feed additives globally, participating in significant industry events like the International Production and Processing Expo (IPPE) and AMVECAJ International Congress. These efforts underline Amlan's dedication to enhancing animal health and production efficiency using natural solutions.
Furthermore, Oil-Dri has expanded its market presence through strategic acquisitions, such as the recent purchase of Ultra Pet for $46 million. Ultra Pet is renowned for its innovative crystal cat litter products, like Litter Pearls, which align well with Oil-Dri's existing product portfolio.
Oil-Dri's vertical integration streamlines every process step, from research and development to supply chain management and marketing, ensuring product quality and customer satisfaction. The company’s ethical and moral values, combined with a passion for excellence, underpin their mission to create value from sorbent minerals, continuously enhancing the value delivered to customers.
Oil-Dri Corporation of America (NYSE: ODC) reported its third quarter and nine-month fiscal results for 2021. Consolidated net sales for the third quarter were $76.3 million, flat year-over-year, with a net income of $2.2 million, down 52%. Earnings per diluted share decreased to $0.32. Increased costs for commodities and freight led to a gross margin drop from 28% to 22%. However, sales in industrial and sports sectors showed recovery. The company plans additional price increases due to ongoing cost pressures and continues to focus on profitability and growth initiatives.
Amlan International has appointed Saksake Pacharadit as the new regional sales manager for the Asia Pacific region. With extensive experience in poultry and a focus on enhancing sales in countries like Pakistan and India, Pacharadit will drive strategies to meet the growing demand for animal protein, especially as poultry production in Southeast Asia is expected to significantly increase. Amlan aims to align its goals with producer profitability through innovative mineral-based feed additive solutions.
Amlan International has appointed Jay Hughes as the new Regional Technical Service Manager for North America as of April 1, 2021. In this role, he will enhance customer support and implement strategies to meet the poultry production needs of Amlan's clients. Hughes brings extensive experience in poultry genetics and production analytics, previously managing relationships at an agriculture analytics firm. The appointment aligns with Amlan's commitment to delivering mineral-based feed additives to satisfy rising demand for natural solutions in poultry and livestock sectors.
Oil-Dri Corporation of America (NYSE: ODC) appointed Matthew J. Daley as Vice President, Corporate Controller on March 10, 2021. Daley, a seasoned finance executive with over 28 years of experience, will oversee corporate accounting and financial reporting. The company also declared a quarterly cash dividend of $0.26 per share of Common Stock and $0.195 per share of Class B Stock, payable on May 28, 2021, to shareholders of record by May 14, 2021. Oil-Dri has paid continuous dividends since 1974, increasing them annually for 17 years.
Oil-Dri Corporation of America (NYSE: ODC) reported a 5% increase in net sales for Q2 FY2021, reaching $74.5 million, attributed to higher demand for cat litter and animal health products. Net income fell 11% to $4.3 million, with EPS of $0.61, down from $0.67. Operating income in the B2B segment rose slightly, while the Retail and Wholesale segment saw a 27% decline in operating income. The company faced challenges from increased commodity and freight costs, impacting gross margin, which dropped to 24%. Strategic investments in animal health and marketing were highlighted as key growth drivers.
Amlan International, the animal health division of Oil-Dri Corporation of America, has appointed Wade Robey as Vice President of Marketing and Product Development. This leadership role highlights Amlan's commitment to delivering natural feed additives for poultry and livestock to enhance intestinal health. Robey's extensive experience in agriculture and animal health is expected to drive innovative solutions amid shifting consumer preferences and regulatory pressures against antibiotic growth promoters. Amlan aims to provide drug-free alternatives to support sustainable animal protein production.
Oil-Dri Corporation of America (NYSE: ODC) announced the issuance of Patent 28958.07.0042 by the Korean Intellectual Property Office for its natural feed additives Varium® and NeoPrime® used in poultry and swine. This patent protects Amlan International's proprietary mineral-based technology aimed at replacing antibiotics in animal feed, promoting intestinal health, and improving growth performance. The patent is part of a series of global protections following similar patents received in the U.S. and EU, enhancing Amlan’s commitment to antibiotic-free animal protein production.
Amlan International has appointed Ricardo Ivanovski as the new Technical Service Manager for Brazil, enhancing its support in the region. His role will focus on delivering technical service and customer support for Amlan's mineral-based feed additive solutions aimed at protein producers and distributors. With extensive experience in animal health, Ivanovski's expertise will strengthen Amlan’s market presence in Brazil. Amlan is part of Oil-Dri Corporation of America, which offers innovative feed additives worldwide, emphasizing quality animal protein.
Amlan International has appointed Harold Zhou as the new Regional Operations Director for China, aimed at strengthening its market presence. Zhou, with extensive industry experience, will focus on enhancing customer value and profitability in the Chinese market. He previously served as Sales Director for a global pedigree broiler breeding company and has a background in veterinarian science. Amlan's innovative mineral-based feed additives enhance animal health and efficiency, supporting its mission to provide high-quality animal protein solutions.
On December 16, 2020, Amlan International, the animal health division of Oil-Dri Corporation of America, announced the appointment of Heath Wessels as the Director of Sales for North America. This new role aims to enhance Amlan's business presence in the U.S. and Canada, focusing on delivering value and profitability through its mineral-based feed additives. With over 20 years of experience in the animal protein sector, Wessels is expected to drive growth and build strategic relationships with producers to meet increasing consumer demands for high-quality animal protein.
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