Oil-Dri Corporation of America - ODC STOCK NEWS

Oil-Dri Corporation of America (NYSE: ODC) reported a 7% increase in consolidated net sales for Q1 FY2021, reaching $76 million. Net income rose 13% to $4 million, and diluted EPS increased to $0.56. The B2B Products Group saw a 4% revenue rise, driven by a 22% increase in agricultural sales, while retail and wholesale revenues surged 9%. Operating income totaled $5.2 million, a 26% increase, despite challenges in animal health and industrial segments due to COVID-19. The company maintains a strong balance sheet with $31 million in cash and minimal debt.

Oil-Dri Corporation (NYSE: ODC) will participate in the virtual Southwest IDEAS Investor Conference on November 19, 2020. Key executives, including Daniel S. Jaffee and Susan M. Kreh, will present insights on the company. A pre-recorded presentation will be accessible on the company’s website starting at 7:00 am CST on November 18. Oil-Dri is known for its high-quality sorbent mineral products across various markets, leveraging over 75 years of expertise.

On October 26, Cat's Pride launches the Twin to Win contest, offering cat owners a chance to win cash prizes up to $2,500 and a coupon for $5 off their litter purchase. Participants must upload creative photos twinning with their cats at CatTwinning.com. The first 50,000 entrants receive the discount, while the top three voted images earn cash prizes of $2,500, $1,000, and $500. Voting for winners is from November 16 to December 6. Cat's Pride supports animal shelters through its Litter for Good program, donating litter for every purchase.

Oil-Dri Corporation of America (NYSE:ODC) has appointed Lawrence E. Washow as Vice Chairman of its Board of Directors. Washow, a board member since 2013, brings extensive experience in minerals and manufacturing. Additionally, the Board declared quarterly cash dividends of $0.26 per share for Common Stock and $0.195 for Class B Stock, payable on November 27, 2020, to stockholders of record on November 13, 2020. Oil-Dri has consistently paid dividends since 1974 and has increased them for 17 consecutive years. Earnings for Q1 fiscal 2021 will be released on December 7, 2020.

Oil-Dri Corporation of America (NYSE: ODC) reported its fourth quarter and fiscal year 2020 results, showcasing a net income of $5.9 million for Q4, a 55% increase year-over-year, and a total net income of $18.9 million for the fiscal year, reflecting a 50% growth. Despite an 8% decline in Q4 net sales to $64.8 million, the company achieved record annual net sales of $283 million, up 2% from 2019. A one-time $13 million gain from an intellectual property license agreement significantly boosted quarterly results. The strong liquidity position includes $41 million in cash against $10 million in debt.

Amlan International has appointed Fred H. Kao as Vice President of Global Sales to enhance its efforts in livestock intestinal health solutions. This role is aimed at meeting the rising global demand for antibiotic-free protein products. Kao, with over 20 years of experience in the animal protein sector, has a proven record in improving profitability and business operations, particularly in Asia. His expertise will support Amlan's strategy in emerging markets, crucial for growth in natural alternatives to antibiotic growth promoters.

Amlan International, a subsidiary of Oil-Dri Corporation (NYSE: ODC), will demonstrate its mineral-based alternatives to antibiotics in poultry production on Fox Business's "Built in America: INNOVATION NATION" airing August 30. The segment features Dr. Hongyu Xue, highlighting how Varium protects chicken health and reduces antibiotic use. Amidst food safety concerns raised by COVID-19, Amlan aims to address global food supply challenges. The company's advancements in mineral technology contribute to sustainable agricultural practices.

On August 24, 2020, Oil-Dri Corporation of America (NYSE: ODC) announced the issuance of U.S. Patent 10,568,903 for its mineral-based technology used in animal feed. This patent covers Varium^® for poultry and NeoPrime™ for swine, presenting a natural alternative to antibiotics in animal protein production. The technology aims to combat intestinal diseases, which cost the livestock industry over $6 billion annually. The patent validates the potential of mineral additives to improve livestock health and productivity while reducing reliance on antibiotics.

Oil-Dri Corporation of America (NYSE: ODC) announced the issuance of a European patent for its mineral-based feed additives, Varium® and NeoPrime®, aimed at improving animal health without antibiotics. This patent is validated in 12 countries and represents advancements in antibiotic-free animal protein production. The technology aids in mitigating pathogenic bacteria's effects, enhancing gut health. Positive feedback from industry partners highlights improvements in poultry health and efficiency. CEO Daniel S. Jaffee emphasized the significance of the patent in promoting value-added, antibiotic-free solutions in animal agriculture.