Oil-Dri Corporation of America - ODC STOCK NEWS

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.

Oil-Dri Corporation of America (NYSE: ODC) has appointed Christopher B. Lamson as Group Vice President of Retail and Wholesale, effective immediately. He will oversee the company's domestic and Canadian consumer products, industrial, and sports turf businesses, as well as the co-packaging business with The Clorox Company. Lamson brings 18 years of experience from The Clorox Company and more recent leadership at Central Garden and Pet. His expertise in managing P&L for both branded and private label products aims to enhance Oil-Dri's market presence.

Amlan International, a division of Oil-Dri Corporation of America, showcased next-generation natural mineral-based feed additives at the IPPE 2022 to enhance gut health in poultry and livestock. These new products address consumer demand for antibiotic-free animal protein, optimizing health without harmful chemicals. Amlan's existing additives, proven in key global markets, are designed to improve sustainability and economic performance. The company emphasized its growing R&D investment and expansion in logistics, particularly in China, to meet evolving demands in the market.

Amlan International will showcase innovative natural feed additives for poultry at the International Production and Processing Expo (IPPE) in Atlanta from January 25-27, 2022. The presentations will address the need for drug-free solutions to enhance intestinal health and overall sustainability in poultry production. Key topics include microbial populations and mycotoxin management, featuring renowned experts such as Gerardo M. Nava and Carlos Augusto Mallmann. Amlan will engage attendees at booth B5255, providing insights into their mineral-based technologies.

Amlan International, a leader in natural feed additives, has appointed Dr. Kim Huang as regional technical services manager for the Asia Pacific (APEC) region. His role is crucial in supporting the growing Southeast Asia poultry market, expected to represent one-third of global production by 2023. Increasing input costs emphasize the need for better feed conversion and animal health, making Amlan's solutions vital for profitability. Dr. Huang brings over 30 years of experience, aiming to enhance customer service and productivity in the region.

The Board of Directors of Oil-Dri Corporation of America (NYSE: ODC) declared quarterly cash dividends of $0.27 per share for Common Stock and $0.2025 per share for Class B Stock. These dividends will be paid on February 25, 2022 to stockholders of record as of February 11, 2022. Oil-Dri has consistently paid cash dividends since 1974, increasing them annually for eighteen consecutive years.

Earnings for the second quarter of fiscal 2022 will be released post-market on March 11, 2022, with a webcast discussion following on March 14, 2022.

Oil-Dri Corporation of America (NYSE: ODC) announced its fiscal Q1 2022 results, reporting record high consolidated net sales of $82.5 million, an 8% increase year-over-year. However, net income fell significantly by 85% to $585,000, and earnings per share dropped to $0.08, down 86% from the previous year. Cost pressures due to inflation led to a 26% decrease in gross profit, with operating income reduced to $445,000. Despite challenges in supply chains and increased operational expenses, the company plans to implement further price increases to manage costs.

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.

On November 18, 2021, Amlan International announced the appointment of Xin WU as Technical Sales Manager for North China. His role aims to support poultry and swine producers facing high feed costs and rising demand for natural, antibiotic-free protein. Amlan's mineral-based feed additives are designed to enhance animal health and improve production efficiency, leveraging over 80 years of expertise from Oil-Dri Corporation. Xin brings over 13 years of experience in the animal feed sector and holds advanced degrees in veterinary medicine.