Oil-Dri Corporation of America Stock Price, News & Analysis

Oil-Dri Corporation of America (NYSE: ODC) reported its Q2 2022 results, achieving record net sales of $87.2 million, a 17% increase year-over-year. However, net income dropped by 53% to $2 million, with earnings per share declining 54% to $0.28. Despite sales growth in the Business to Business segment, ongoing inflation and supply chain challenges reduced gross profit margins to 18%, down from 22% in the prior year. Oil-Dri continues to focus on pricing strategies and cost-saving measures to combat these pressures.

Oil-Dri Corporation of America (NYSE: ODC) announced a price increase for its sports field products effective April 1, 2022. This decision is driven by rising inflation affecting key cost inputs such as packaging, materials, natural gas, and manufacturing expenses. CEO Daniel S. Jaffee stated that the price adjustments are crucial to maintain product quality and to restore profit margins to historical levels. Pro’s Choice sales representatives will provide further details to customers directly.

Amlan International has appointed Eduardo Euclides Baggio as Technical Manager to support Brazilian poultry and livestock producers. With a focus on integrating natural mineral-based products into animal rations, Amlan aims to enhance intestinal health and sustainability in production. Despite challenges from rising feed and fuel costs, Brazilian poultry and pork production are set for significant growth in 2022. Amlan, part of Oil-Dri Corporation, emphasizes its commitment to technical expertise as it assists producers in navigating restrictions on antibiotic usage in animal production.

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.