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Oil-Dri Corporation of America reports developments tied to its sorbent mineral products business, including specialty absorbents and purification materials sold into pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets.
Recurring updates cover quarterly operating results, product-group trends in the Retail and Wholesale Products Group and Business-to-Business Products Group, cash dividends on Common Stock and Class B Stock, and activity at Amlan International, the company's animal health business. News also includes mineral-based feed additive products, agricultural offerings such as Verge, and fluids purification demand across edible oil, jet fuel and renewable diesel applications.
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.
Oil-Dri Corporation of America (NYSE: ODC) announced its fiscal Q1 2022 results, reporting record high consolidated net sales of $82.5 million, an 8% increase year-over-year. However, net income fell significantly by 85% to $585,000, and earnings per share dropped to $0.08, down 86% from the previous year. Cost pressures due to inflation led to a 26% decrease in gross profit, with operating income reduced to $445,000. Despite challenges in supply chains and increased operational expenses, the company plans to implement further price increases to manage costs.
Oil-Dri Corporation of America (NYSE: ODC) announced a price increase for its fluid purification products, effective January 1, 2022. The hikes will be up to 10%, driven by significant inflation in key costs such as natural gas, diesel, packaging, and non-fuel manufacturing. The company emphasizes that these adjustments are essential to navigate the rising expenses. Sales representatives will provide customers with further details regarding the changes.
On November 18, 2021, Amlan International announced the appointment of Xin WU as Technical Sales Manager for North China. His role aims to support poultry and swine producers facing high feed costs and rising demand for natural, antibiotic-free protein. Amlan's mineral-based feed additives are designed to enhance animal health and improve production efficiency, leveraging over 80 years of expertise from Oil-Dri Corporation. Xin brings over 13 years of experience in the animal feed sector and holds advanced degrees in veterinary medicine.
Oil-Dri Corporation of America (NYSE: ODC) announced a price increase of 7% to 10% for its industrial clay and synthetic absorbents, effective January 1, 2022. The decision, according to CEO Daniel S. Jaffee, is driven by ongoing inflationary pressures on materials, packaging, and manufacturing costs. The company emphasizes its commitment to maintaining product quality and supply for its customers. Further details will be communicated directly to customers by sales representatives.
Amlan International, the animal health division of Oil-Dri Corporation of America, will feature research on natural feed additives at the Symposium on Gut Health in Production of Food Animals from October 31 to November 3, 2021. Presentations will be made by Amlan scientists, including Dr. Hongyu Xue, who will address the adverse effects of coccidiosis and the benefits of Amlan’s products. The symposium aims to highlight the importance of gut health in livestock and poultry, especially amidst global restrictions on in-feed antibiotics, creating demand for drug-free solutions.