Oil-Dri Announces Price Increases on Clay Absorbents and Sports Field Products
Oil-Dri Corporation of America (NYSE: ODC) announced price increases of 5% to 9% on clay absorbents and sports field products, effective September 1, 2021.
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Rhea-AI Summary
Oil-Dri Corporation of America (NYSE: ODC) announced price increases of 5% to 9% on clay absorbents and sports field products, effective September 1, 2021. This decision is driven by significant cost increases in packaging, materials, natural gas, and non-fuel manufacturing costs, despite ongoing improvements in manufacturing efficiencies. Sales representatives will communicate detailed information about the price adjustments directly to customers.
Positive
- Price increases may enhance revenue, contributing to overall financial stability.
Negative
- Rising costs for packaging, materials, and natural gas could pressure profit margins.
Details
News Market Reaction – ODC
The recorded move for ODC in the trading session of this news was +0.37%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
CHICAGO, July 30, 2021 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC) today announced that it will implement price increases of its clay absorbents and sports field products, effective September 1, 2021. These price increases will range from
Although Oil-Dri is continuously improving its manufacturing efficiencies, price adjustments are necessary as the company is facing significant cost increases across all input channels, including packaging, materials, natural gas, and non-fuel manufacturing costs.
Oil-Dri sales representatives will communicate additional 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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