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

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.

Amlan International has appointed Ricardo Ivanovski as the new Technical Service Manager for Brazil, enhancing its support in the region. His role will focus on delivering technical service and customer support for Amlan's mineral-based feed additive solutions aimed at protein producers and distributors. With extensive experience in animal health, Ivanovski's expertise will strengthen Amlan’s market presence in Brazil. Amlan is part of Oil-Dri Corporation of America, which offers innovative feed additives worldwide, emphasizing quality animal protein.

Amlan International has appointed Harold Zhou as the new Regional Operations Director for China, aimed at strengthening its market presence. Zhou, with extensive industry experience, will focus on enhancing customer value and profitability in the Chinese market. He previously served as Sales Director for a global pedigree broiler breeding company and has a background in veterinarian science. Amlan's innovative mineral-based feed additives enhance animal health and efficiency, supporting its mission to provide high-quality animal protein solutions.

On December 16, 2020, Amlan International, the animal health division of Oil-Dri Corporation of America, announced the appointment of Heath Wessels as the Director of Sales for North America. This new role aims to enhance Amlan's business presence in the U.S. and Canada, focusing on delivering value and profitability through its mineral-based feed additives. With over 20 years of experience in the animal protein sector, Wessels is expected to drive growth and build strategic relationships with producers to meet increasing consumer demands for high-quality animal protein.

The Board of Directors of Oil-Dri Corporation of America (NYSE: ODC) announced a quarterly cash dividend of $0.26 per share for Common Stock and $0.195 per share for Class B Stock. These dividends will be payable on February 26, 2021, to shareholders on record as of February 12, 2021. Oil-Dri has a longstanding history of continuous cash dividends since 1974 and has raised its dividend annually for 17 consecutive years. The company plans to release its earnings report for the second quarter of fiscal 2021 on March 11, 2021.

Oil-Dri Corporation of America (NYSE: ODC) reported a 7% increase in consolidated net sales for Q1 FY2021, reaching $76 million. Net income rose 13% to $4 million, and diluted EPS increased to $0.56. The B2B Products Group saw a 4% revenue rise, driven by a 22% increase in agricultural sales, while retail and wholesale revenues surged 9%. Operating income totaled $5.2 million, a 26% increase, despite challenges in animal health and industrial segments due to COVID-19. The company maintains a strong balance sheet with $31 million in cash and minimal debt.