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Oil-Dri Corporation of America - ODC STOCK NEWS

Welcome to our dedicated page for Oil-Dri Corporation of America news (Ticker: ODC), a resource for investors and traders seeking the latest updates and insights on Oil-Dri Corporation of America stock.

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.

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Oil-Dri of America (NYSE: ODC) announced record sales and gross profit for Q3 and the first nine months of fiscal 2024. Q3 consolidated net sales reached $106.8 million, up 1% from the prior year. Net income for the quarter was $7.8 million, down 9% from last year, primarily due to increased SG&A expenses. Gross profit increased by 10% to $30.1 million. The company highlighted growth in fluids purification and cat litter products, as well as the acquisition of Ultra Pet Company, which is expected to drive future earnings. Year-to-date net sales were $323.9 million, a 6% increase from the previous year.

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Oil-Dri of America (NYSE: ODC) announced a dividend increase to $0.31 per share for Common Stock and $0.233 per share for Class B Stock, representing a 7% rise. This marks the 21st consecutive year of dividend increases, highlighting strong financial performance and confidence in future growth. Dividends will be payable on August 23, 2024, to shareholders who are recorded as of August 9, 2024. Historically, the company increased dividends by $0.01 annually, but this year it doubled the increase to $0.02 per share. A press release detailing Q3 2024 performance will be issued on June 6, with an earnings discussion webcast scheduled for June 7 at 10:00 a.m. Central Time.

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Oil-Dri of America (NYSE: ODC) has completed the acquisition of Ultra Pet Company, Inc. for $46 million, aiming to strengthen its position in the cat litter industry. The acquisition was financed through a mix of cash and credit facilities. The combined efforts of both companies will focus on expanding in the crystal cat litter segment, optimizing operations, and sharing core values. Oil-Dri's earnings for the third quarter of fiscal 2024 will be released on June 6, 2024, followed by an earnings discussion on June 7, 2024.

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Oil-Dri of America (NYSE: ODC) announces the acquisition of Ultra Pet Company, Inc. for $46 million in cash, aiming to expand its presence in the rapidly growing crystal cat litter market. The transaction is expected to be immediately accretive to earnings, positioning Oil-Dri as a key player in the lightweight cat litter segment.
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Oil-Dri Corporation of America (ODC) announces impressive financial results for the second quarter and first six months of fiscal year 2024. Net sales increased by 4% to $105.7 million, with net income more than tripling to $12.4 million. Gross profit reached an all-time high of $30.9 million, driven by higher selling prices and improved product mix. Operating income doubled to $15.2 million. The Business to Business Products Group saw a 3% revenue increase, while the Retail and Wholesale Products Group experienced a 4% growth in revenues.
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Oil-Dri Corporation of America (ODC) declares quarterly cash dividends of $0.29 per share for Common Stock and $0.218 per share for Class B Stock. Dividends payable on May 24, 2024, to stockholders of record on May 10, 2024. The company has been paying dividends since 1974 and increasing them annually for twenty years. Earnings discussion via webcast scheduled for March 8, 2024.
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Amlan International partners with Grupo Profil to distribute natural feed additives in Latin America, targeting poultry, swine, aquaculture, and dairy sectors. The partnership aims to enhance animal health and productivity, reduce antibiotic use, and offer sustainable solutions in Central America.
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Amlan International, a global leader in mineral-based feed additives, received the prestigious 'Best of the Best' award in Live Production at the International Production & Processing Expo (IPPE) for its innovative product, NeutraPath. NeutraPath is a natural antimicrobial feed additive that optimizes intestinal health, reduces pathogenic bacterial load, and enhances performance in high-challenge environments. The product's efficacy has been validated through research, showcasing its potential to improve pathogen control and feed conversion. Amlan's commitment to innovation and sustainability in the poultry industry is evident through NeutraPath's recognition and previous accolades for their natural anticoccidial feed additive, Phylox.
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Amlan International, a subsidiary of Oil-Dri Corporation of America, will participate in the XXX AMVECAJ International Congress, focusing on pig health management, nutrition, and animal welfare. The event will feature leading experts from the United States, Colombia, Uruguay, Argentina, Brazil, and Mexico, providing Amlan with a global platform to showcase its natural mineral-based feed additives and technical services expertise.
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Cat's Pride, a brand from Oil-Dri Corporation of America (NYSE: ODC), is launching the 'Give Shelter Cats a Clean Start' campaign in honor of National Cat Health Month. For every jug of Antibacterial Clumping Litter sold in February, Cat's Pride will donate two pounds of litter to help shelters nationwide. The litter kills 99.9% of odor-causing bacteria and aims to provide a more sanitary environment for shelters and homes. With over 3 million cats entering shelters annually, the initiative aims to make a tangible impact by providing a necessity for all shelters – cat litter.
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FAQ

What does Oil-Dri Corporation of America specialize in?

Oil-Dri specializes in the development, manufacturing, and marketing of sorbent products derived mainly from clay, including cat litter, toxin control for livestock, and agricultural carriers.

What are some of Oil-Dri’s notable brands?

Notable brands include Cat's Pride, Jonny Cat, Amlan, Agsorb, Verge, Pure-Flo, and Ultra-Clear.

How did Oil-Dri perform in the first quarter of fiscal 2024?

Oil-Dri achieved record net sales and gross profit for the sixth and eighth consecutive quarters, respectively, with net income doubling to an all-time high.

What is Amlan International's role within Oil-Dri?

Amlan International is Oil-Dri’s animal health division, focusing on innovative mineral-based feed additives to enhance animal health and production efficiency.

What was the significance of Oil-Dri’s acquisition of Ultra Pet?

The acquisition of Ultra Pet for $46 million expands Oil-Dri’s market presence in the growing crystal cat litter segment, enhancing their product portfolio with innovative solutions.

How does Oil-Dri ensure product quality?

Oil-Dri ensures product quality through vertical integration, overseeing every process step from research and development to supply chain management and marketing.

What is Oil-Dri’s mission?

Oil-Dri’s mission is to create value from sorbent minerals while continuously improving the value provided to customers through their products and services.

What recent events did Amlan International participate in?

Amlan International recently participated in the International Production and Processing Expo (IPPE) and the AMVECAJ International Congress, showcasing their advanced mineral-based feed additives.

What values does Oil-Dri emphasize in its operations?

Oil-Dri emphasizes high moral and ethical values, integrity, honesty, and a passion for excellence in all its operations.

Where can more information about Oil-Dri be found?

More information about Oil-Dri can be found on their website at oildri.com.

Oil-Dri Corporation of America

NYSE:ODC

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