Oil-Dri Reports Record Third Quarter Revenues and Strong Earnings Growth
Rhea-AI Summary
Oil-Dri (NYSE: ODC) reported record third quarter fiscal 2026 net sales of $126.3 million, up 9% year over year, and net income of $14.5 million, up 25%.
Gross margin was 26.7% versus 28.6% last year, while SG&A declined 13%. Business to Business sales rose 3%, Retail & Wholesale sales rose 13%, driven mainly by strong cat litter demand and record crystal, co-packaged, and industrial/sports product sales.
Positive
- Record Q3 net sales of $126.3M, up 9% year over year
- Q3 net income $14.5M, up 25% versus prior year
- Q3 consolidated income from operations $17.1M, up 23% year over year
- Retail & Wholesale Q3 net sales $82.5M, up 13% year over year
- Domestic cat litter sales $57.9M, up 10% year over year
- Co-packaged cat litter sales up 94% to a record high
Negative
- Q3 gross margin fell to 26.7% from 28.6% year over year
- Per ton domestic cost of goods sold increased 6% in Q3
- Business to Business Q3 operating income down 3% to $13.0M
- Year-to-date Business to Business operating income down 14% to $38.4M
- Year-to-date consolidated income from operations down 5% to $49.7M
- Fluids purification product revenues down 1% year over year in Q3
News Market Reaction – ODC
In the Jun 9 session, ODC gained 17.38%, reflecting a significant positive market reaction. Argus tracked a peak move of +11.6% during that session. Our momentum scanner triggered 39 alerts that day, indicating elevated trading interest and price volatility. Trading volume was elevated at 2.7x the daily average, suggesting notable buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 03 | Dividend hike & buyback | Positive | +9.0% | Dividend increase and new share repurchase authorization signaled continued capital returns. |
| May 06 | Marketing/ESG campaign | Positive | +0.6% | Launch of major charitable cat litter donation campaign supporting animal shelters nationwide. |
| Apr 13 | Workplace award | Positive | -1.0% | Recognition as a 2026 USA TODAY Top Workplaces winner for strong employee culture. |
| Mar 12 | Quarterly dividends | Positive | -2.9% | Board declared regular quarterly dividends, extending a long multi-decade payout history. |
| Mar 11 | Record Q2 earnings | Neutral | +0.8% | Record second-quarter net sales but slightly lower profits amid weather-related disruptions. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Positive corporate actions and earnings records have often seen supportive or modestly positive next-day moves, but there are instances where upbeat announcements coincided with small declines.
Over the last six months, Oil-Dri has repeatedly highlighted record revenues and consistent capital returns. On Mar 11, 2026, it reported record second-quarter net sales with slightly lower profits. The board maintained and later raised dividends, as noted on Mar 12 and Jun 3, 2026, alongside a new repurchase authorization. Brand and workplace initiatives, including a major litter donation campaign and a 2026 USA TODAY Top Workplaces award, reinforced strategic positioning. Today’s record third-quarter revenue and earnings growth extend this trajectory of operational strength and shareholder returns.
Key Terms
ebitda financial
sg&a financial
schedule 13g regulatory
form 4 regulatory
form 144 regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
CHICAGO, June 08, 2026 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC), producer and marketer of sorbent mineral products, today announced results for its third quarter and first nine- months of fiscal year 2026.
| Third Quarter | Year to Date | |||||||||||||
| (in thousands, except per share amounts) | Ended April 30, | Ended April 30, | ||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||
| Consolidated Results | ||||||||||||||
| Net Sales | $ | 126,329 | $ | 115,501 | $ | 364,552 | $ | 360,360 | ||||||
| Income from Operations * | $ | 17,093 | $ | 13,904 | $ | 49,740 | $ | 52,576 | (5)% | |||||
| Net Income | $ | 14,526 | $ | 11,644 | $ | 42,551 | $ | 40,941 | ||||||
| EBITDA † | $ | 23,770 | $ | 20,248 | $ | 69,146 | $ | 68,631 | ||||||
| Diluted EPS - Common | $ | 1.00 | $ | 0.80 | $ | 2.93 | $ | 2.81 | ||||||
| Business to Business | ||||||||||||||
| Net Sales | $ | 43,841 | $ | 42,678 | $ | 130,104 | $ | 134,509 | (3)% | |||||
| Segment Operating Income | $ | 12,959 | $ | 13,382 | (3)% | $ | 38,392 | $ | 44,814 | (14)% | ||||
| Retail and Wholesale | ||||||||||||||
| Net Sales | $ | 82,488 | $ | 72,823 | $ | 234,448 | $ | 225,851 | ||||||
| Segment Operating Income | $ | 11,299 | $ | 9,709 | $ | 34,470 | $ | 34,414 | —% | |||||
* Comprised of Consolidated Operating Income less unallocated corporate expenses.
† Please refer to Reconciliation of Non-GAAP Financial Measures below for a reconciliation of Non-GAAP items to the comparable GAAP measures.
Daniel S. Jaffee, President and Chief Executive Officer, stated, “I am pleased to announce that after two consecutive quarters of challenging year-over-year comparisons, our recent results surpassed the prior year. Record third quarter consolidated net sales grew
Consolidated Results
As previously reported, the Company was impacted by Winter Storm Fern in January 2026, which disrupted Oil-Dri’s supply chain and affected customers’ ability to receive or pick up orders. Following the storm, operations recovered quickly, and service levels remained strong. During the third quarter of fiscal year 2026, the Company achieved fill rates of
Consolidated net sales for the three months ended April 30, 2026 reached
Consolidated gross profit for the third quarter of fiscal year 2026 was
Selling, general and administrative ("SG&A") expenses were
Consolidated income from operations was
Total other income, net was
During the third quarter of fiscal 2026, income tax expense rose to
Consolidated net income for the third quarter of fiscal year 2026 was
Cash and cash equivalents for the three month period ended April 30, 2026 totaled
Product Group Review
The B2B Products Group’s third quarter fiscal year 2026 revenues were
SG&A expenses within the B2B Products Group for the third quarter of fiscal year 2026 remained flat compared to the same period last year.
Operating income for the B2B Products Group was
The R&W Products Group delivered record sales of
During the third quarter of fiscal 2026, SG&A expenses within the R&W Products Group decreased by
Operating income for the R&W Products Group was
The Company will host its third quarter fiscal year 2026 earnings discussion virtually via a live webcast on Tuesday, June 9, 2026 at 10:00 a.m. Central Time. Participation details are available on the Company’s website’s Events page.
“Oil-Dri” and “Amlan” are registered trademarks of Oil-Dri Corporation of America and its subsidiaries.
1Based in part on data reported by NielsenIQ through its Scantrack Service for the Cat Litter Category in the 13-week period ended April 18, 2026, for the U.S. xAOC+Pet Supers market. Copyright © 2026 NielsenIQ.
About Oil-Dri Corporation of America
Oil-Dri Corporation of America is a leading manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, 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 over 80 years of experience, the Company continues to fulfill its mission to Create Value from Sorbent Minerals.
Forward-Looking Statements
Certain statements in this press release may constitute forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are based on management’s current expectations, estimates, forecasts, assumptions and projections about future events, our future performance, the future of our business, our plans and strategies, projections, anticipated trends, the economy and other future developments and their potential effects on us. In addition, we, or others on our behalf, may make forward-looking statements in other press releases or written statements, or in our communications and discussions with investors and analysts in the normal course of business through meetings, webcasts, phone calls and conference calls. Forward-looking statements can be identified by words such as “expect,” “outlook,” “forecast,” “would,” “could,” “should,” “project,” “intend,” “plan,” “continue,” “believe,” “seek,” “estimate,” “anticipate,” “may,” “assume,” “potential,” “strive,” and variations of such words and similar references to future periods.
Such statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those anticipated, intended, expected, believed, estimated, projected, planned or otherwise expressed in any forward-looking statements, including, but not limited to, those described in our most recent Annual Report on Form 10-K and from time to time in our other filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except to the extent required by law, we do not have any intention or obligation to update publicly any forward-looking statements after the distribution of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.
Non-GAAP Financial Measures
To supplement our consolidated financial statements prepared in accordance with generally accepted accounting principles (“GAAP”), we provide certain non-GAAP financial measures in this press release as supplemental financial metrics. In particular, EBITDA is a non-GAAP financial measure provided herein. We provide a reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure below.
The non-GAAP financial measures we use may not be the same or calculated in the same manner as those used and calculated by other companies. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our financial results prepared and reported in accordance with GAAP. We believe that certain non-GAAP measures may be helpful to investors and others in understanding and evaluating our operating results, and we urge investors to review the reconciliation of non-GAAP financial measures to the comparable GAAP financial measures included in this release, and not to rely on any single financial measure to evaluate our business.
Contact:
Leslie A. Garber
Director of Investor Relations
Oil-Dri Corporation of America
InvestorRelations@oildri.com
(312) 321-1515
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
| (in thousands, except per share amounts) | ||||||||||||||||
| Third Quarter Ended April 30, | ||||||||||||||||
| 2026 | % of Sales | 2025 | % of Sales | |||||||||||||
| Net Sales | $ | 126,329 | 100.0 | % | $ | 115,501 | 100.0 | % | ||||||||
| Cost of Goods Sold | (92,601 | ) | (73.3 | ) | % | (82,479 | ) | (71.4 | ) | % | ||||||
| Gross Profit | 33,728 | 26.7 | % | 33,022 | 28.6 | % | ||||||||||
| Selling, General and Administrative Expenses | (16,635 | ) | (13.2 | ) | % | (19,118 | ) | (16.6 | ) | % | ||||||
| Operating Income | 17,093 | 13.5 | % | 13,904 | 12.0 | % | ||||||||||
| Other Income, Net | 818 | 0.6 | % | 344 | 0.3 | % | ||||||||||
| Income Before Income Taxes | 17,911 | 14.2 | % | 14,248 | 12.3 | % | ||||||||||
| Income Taxes Expense | (3,385 | ) | (2.7 | ) | % | (2,604 | ) | (2.3 | ) | % | ||||||
| Net Income | 14,526 | 11.5 | % | 11,644 | 10.1 | % | ||||||||||
| Earnings Per Share: | Basic Common | $ | 1.08 | $ | 0.86 | |||||||||||
| Basic Class B | $ | 0.81 | $ | 0.65 | ||||||||||||
| Diluted Common | $ | 1.00 | $ | 0.80 | ||||||||||||
| Diluted Class B | $ | 0.81 | $ | 0.65 | ||||||||||||
| Avg Shares Outstanding: | Basic Common | 9,848 | 9,907 | |||||||||||||
| Basic Class B | 4,048 | 4,002 | ||||||||||||||
| Diluted Common | 13,896 | 13,909 | ||||||||||||||
| Diluted Class B | 4,048 | 4,002 | ||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
| (in thousands, except per share amounts) | ||||||||||||||||
| Nine Months Ended April 30, | ||||||||||||||||
| 2026 | % of Sales | 2025 | % of Sales | |||||||||||||
| Net Sales | $ | 364,552 | 100.0 | % | $ | 360,360 | 100.0 | % | ||||||||
| Cost of Goods Sold | (263,027 | ) | (72.2 | ) | % | (252,110 | ) | (70.0 | ) | % | ||||||
| Gross Profit | 101,525 | 27.8 | % | 108,250 | 30.0 | % | ||||||||||
| Selling, General and Administrative Expenses | (51,785 | ) | (14.2 | ) | % | (55,674 | ) | (15.4 | ) | % | ||||||
| Income from Operations | 49,740 | 13.6 | % | 52,576 | 14.6 | % | ||||||||||
| Other Income (Expense), Net | 1,659 | 0.5 | % | (1,866 | ) | (0.5 | ) | % | ||||||||
| Income Before Income Taxes | 51,399 | 14.1 | % | 50,710 | 14.1 | % | ||||||||||
| Income Taxes Expense | (8,848 | ) | (2.4 | ) | % | (9,769 | ) | (2.7 | ) | % | ||||||
| Net Income | 42,551 | 11.7 | % | 40,941 | 11.4 | % | ||||||||||
| Earnings Per Share: | Basic Common | $ | 3.15 | $ | 3.03 | |||||||||||
| Basic Class B | $ | 2.37 | $ | 2.28 | ||||||||||||
| Diluted Common | $ | 2.93 | $ | 2.81 | ||||||||||||
| Diluted Class B | $ | 2.37 | $ | 2.28 | ||||||||||||
| Avg Shares Outstanding: | Basic Common | 9,884 | 9,882 | |||||||||||||
| Basic Class B | 4,035 | 3,991 | ||||||||||||||
| Diluted Common | 13,919 | 13,873 | ||||||||||||||
| Diluted Class B | 4,035 | 3,991 | ||||||||||||||
| CONSOLIDATED BALANCE SHEETS | |||||||
| (in thousands, except per share amounts) | |||||||
| As of April 30, | As of July 31, | ||||||
| 2026 | 2025 | ||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $ | 62,941 | $ | 50,458 | |||
| Accounts Receivable, Net | 75,772 | 69,370 | |||||
| Inventories, Net | 52,420 | 51,594 | |||||
| Prepaid Expenses and Other Assets | 5,212 | 5,961 | |||||
| Total Current Assets | 196,345 | 177,383 | |||||
| Property, Plant and Equipment, Net | 150,799 | 149,704 | |||||
| Other Assets | 61,646 | 64,590 | |||||
| Total Assets | $ | 408,790 | $ | 391,677 | |||
| Current Liabilities | |||||||
| Current Maturities of Notes Payable | $ | 1,000 | $ | 1,000 | |||
| Accounts Payable | 13,848 | 16,808 | |||||
| Dividends Payable | 2,750 | 2,444 | |||||
| Other Current Liabilities | 42,322 | 48,935 | |||||
| Total Current Liabilities | 59,920 | 69,187 | |||||
| Noncurrent Liabilities | |||||||
| Long-term debt | 38,847 | 38,817 | |||||
| Other Noncurrent Liabilities | 24,797 | 24,613 | |||||
| Total Noncurrent Liabilities | 63,644 | 63,430 | |||||
| Stockholders' Equity | 285,226 | 259,060 | |||||
| Total Liabilities and Stockholders' Equity | $ | 408,790 | $ | 391,677 | |||
| Book Value Per Share Outstanding | $ | 20.49 | $ | 18.66 | |||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (in thousands) | |||||||
| For the Nine Months Ended | |||||||
| April 30, | |||||||
| 2026 | 2025 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
| Net Income | $ | 42,551 | $ | 40,941 | |||
| Adjustments to reconcile net income to net cash | |||||||
| provided by operating activities: | |||||||
| Depreciation and Amortization | 17,186 | 16,391 | |||||
| Increase in Accounts Receivable | (6,203 | ) | (3,816 | ) | |||
| Increase in Inventories | (766 | ) | (2,547 | ) | |||
| Decrease in Prepaid Expenses | 463 | 1,234 | |||||
| (Decrease) Increase in Accounts Payable | (641 | ) | 495 | ||||
| Decrease in Accrued Expenses | (5,529 | ) | (2,268 | ) | |||
| Other | 6,147 | 4,558 | |||||
| Total Adjustments | 10,657 | 14,047 | |||||
| Net Cash Provided by Operating Activities | 53,208 | 54,988 | |||||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||
| Capital Expenditures | (20,918 | ) | (24,483 | ) | |||
| Acquisition of Business | — | (115 | ) | ||||
| Proceeds from sale of property, plant and equipment | — | 89 | |||||
| Net Dispositions of Investment Securities | 312 | — | |||||
| Net Cash Used in Investing Activities | (20,606 | ) | (24,509 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||
| Payments on Revolving Credit Facility | — | (10,000 | ) | ||||
| Dividends Paid | (7,626 | ) | (6,290 | ) | |||
| Purchases of Treasury Stock | (12,537 | ) | (2,233 | ) | |||
| Net Cash Used In Financing Activities | (20,163 | ) | (18,523 | ) | |||
| Effect of exchange rate changes on Cash and Cash Equivalents | 44 | 38 | |||||
| Net Decrease in Cash and Cash Equivalents | 12,483 | 11,994 | |||||
| Cash, Cash Equivalents and Restricted Cash, Beginning of Period | 50,458 | 24,481 | |||||
| Cash, Cash Equivalents and Restricted Cash, End of Period | $ | 62,941 | $ | 36,475 | |||
| RECONCILIATION OF NON-GAAP FINANCIAL MEASURES | |||||||||||||||
| (in thousands) | |||||||||||||||
| Third Quarter | Year to Date | ||||||||||||||
| Ended April 30, | Ended April 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| GAAP: Net Income | $ | 14,526 | $ | 11,644 | $ | 42,551 | $ | 40,941 | |||||||
| Depreciation and Amortization | $ | 5,708 | $ | 5,574 | $ | 17,186 | $ | 16,391 | |||||||
| Interest Expense | $ | 537 | $ | 548 | $ | 1,648 | $ | 1,888 | |||||||
| Interest Income | $ | (386 | ) | $ | (122 | ) | $ | (1,087 | ) | $ | (358 | ) | |||
| Income Tax Expense | $ | 3,385 | $ | 2,604 | $ | 8,848 | $ | 9,769 | |||||||
| EBITDA | $ | 23,770 | $ | 20,248 | $ | 69,146 | $ | 68,631 | |||||||
