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

Oil-Dri Corporation of America (NYSE: ODC) announces the appointment of Amy Ryan to its Board of Directors effective June 9, 2021. Ryan brings nearly 20 years of experience in Environmental, Social, & Governance (ESG) and risk management. The Board also declared a quarterly cash dividend of $0.27 per share, marking an approximate 4% increase, and extending 18 consecutive years of dividend increases, demonstrating commitment to shareholder value. The dividends will be payable on August 27, 2021, to shareholders of record by August 13, 2021.

Amlan International is enhancing its operations in China to address the growing demand for animal protein, particularly in poultry and pork production. The company has appointed eight new sales and technical professionals, including Michael Hua and King Zhu, to bolster customer service and technical support. Amlan is also expanding its logistics capabilities across three strategically located centers in China. These initiatives aim to help local producers meet the increasing consumer demand and evolving regulatory requirements. Amlan is part of Oil-Dri Corporation of America, publicly traded as ODC.

Oil-Dri Corporation of America (NYSE: ODC) reported its third quarter and nine-month fiscal results for 2021. Consolidated net sales for the third quarter were $76.3 million, flat year-over-year, with a net income of $2.2 million, down 52%. Earnings per diluted share decreased to $0.32. Increased costs for commodities and freight led to a gross margin drop from 28% to 22%. However, sales in industrial and sports sectors showed recovery. The company plans additional price increases due to ongoing cost pressures and continues to focus on profitability and growth initiatives.

Amlan International has appointed Saksake Pacharadit as the new regional sales manager for the Asia Pacific region. With extensive experience in poultry and a focus on enhancing sales in countries like Pakistan and India, Pacharadit will drive strategies to meet the growing demand for animal protein, especially as poultry production in Southeast Asia is expected to significantly increase. Amlan aims to align its goals with producer profitability through innovative mineral-based feed additive solutions.

Amlan International has appointed Jay Hughes as the new Regional Technical Service Manager for North America as of April 1, 2021. In this role, he will enhance customer support and implement strategies to meet the poultry production needs of Amlan's clients. Hughes brings extensive experience in poultry genetics and production analytics, previously managing relationships at an agriculture analytics firm. The appointment aligns with Amlan's commitment to delivering mineral-based feed additives to satisfy rising demand for natural solutions in poultry and livestock sectors.

Oil-Dri Corporation of America (NYSE: ODC) appointed Matthew J. Daley as Vice President, Corporate Controller on March 10, 2021. Daley, a seasoned finance executive with over 28 years of experience, will oversee corporate accounting and financial reporting. The company also declared a quarterly cash dividend of $0.26 per share of Common Stock and $0.195 per share of Class B Stock, payable on May 28, 2021, to shareholders of record by May 14, 2021. Oil-Dri has paid continuous dividends since 1974, increasing them annually for 17 years.

Oil-Dri Corporation of America (NYSE: ODC) reported a 5% increase in net sales for Q2 FY2021, reaching $74.5 million, attributed to higher demand for cat litter and animal health products. Net income fell 11% to $4.3 million, with EPS of $0.61, down from $0.67. Operating income in the B2B segment rose slightly, while the Retail and Wholesale segment saw a 27% decline in operating income. The company faced challenges from increased commodity and freight costs, impacting gross margin, which dropped to 24%. Strategic investments in animal health and marketing were highlighted as key growth drivers.

Amlan International, the animal health division of Oil-Dri Corporation of America, has appointed Wade Robey as Vice President of Marketing and Product Development. This leadership role highlights Amlan's commitment to delivering natural feed additives for poultry and livestock to enhance intestinal health. Robey's extensive experience in agriculture and animal health is expected to drive innovative solutions amid shifting consumer preferences and regulatory pressures against antibiotic growth promoters. Amlan aims to provide drug-free alternatives to support sustainable animal protein production.

Oil-Dri Corporation of America (NYSE: ODC) announced the issuance of Patent 28958.07.0042 by the Korean Intellectual Property Office for its natural feed additives Varium® and NeoPrime® used in poultry and swine. This patent protects Amlan International's proprietary mineral-based technology aimed at replacing antibiotics in animal feed, promoting intestinal health, and improving growth performance. The patent is part of a series of global protections following similar patents received in the U.S. and EU, enhancing Amlan’s commitment to antibiotic-free animal protein production.