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 announced plans to increase prices for its cat litter products in the U.S. and Canada during Q2 of fiscal year 2022. This decision comes in response to ongoing inflationary pressures affecting key costs such as freight, packaging, materials, and manufacturing. Despite efforts to optimize operational expenses, the company stated that price adjustments are necessary to uphold product quality and service levels. Specific details regarding the price increase will be communicated directly to customers by sales representatives.
The Board of Directors of Oil-Dri Corporation of America (NYSE: ODC) has declared quarterly cash dividends of $0.27 per share for Common Stock and $0.2025 for Class B Stock. These dividends will be payable on November 26, 2021, to stockholders on record as of November 12, 2021. Notably, Oil-Dri has consistently paid dividends since 1974, increasing them annually for eighteen consecutive years. The company plans to announce its first quarter earnings of fiscal 2022 on December 7, 2021, with a virtual earnings discussion on December 8, 2021.
Oil-Dri Corporation (NYSE: ODC) reported a strong fourth quarter and fiscal year 2021 with record net sales of $78 million and total sales of $305 million, representing a 20% and 8% increase, respectively. However, net income dropped 90% in Q4 to $603,000 and 41% for the year to $11.1 million, primarily due to severe cost inflation in key inputs like resin and lumber. Despite these challenges, the company continues to focus on growth in mineral-based alternatives and cat litter products. The outlook for fiscal 2022 emphasizes enhancing profitability amidst rising costs.
Amlan International has appointed Betty Yuriko as the new country manager for Indonesia, enhancing its operations in response to the growing demand for animal protein. With 27 years of experience, Betty will lead the distribution strategy for Amlan’s natural, mineral-based feed additives like Varium and NeoPrime, which recently received a patent in Indonesia. This move addresses producers' needs for alternatives to antibiotic growth promoters, aiming to optimize animal health and profitability. Amlan is a division of Oil-Dri Corporation, traded on the NYSE under the symbol ODC.
Oil-Dri Corporation of America (NYSE: ODC) has received a patent in Indonesia for its innovative mineral-based feed additive technology, benefiting the local animal protein industry. The patent, IDP-000071991, protects formulations used in Amlan's Varium® and NeoPrime® products, which promote intestinal health in poultry and swine. With rising demand for antibiotic-free alternatives in Indonesia, these products support livestock production efficiency. Amlan's direct partnership with producers and expansion of services are set to enhance support for high-quality animal protein production.
Oil-Dri Corporation of America (NYSE: ODC) announced price increases of 5% to 9% on clay absorbents and sports field products, effective September 1, 2021. This decision is driven by significant cost increases in packaging, materials, natural gas, and non-fuel manufacturing costs, despite ongoing improvements in manufacturing efficiencies. Sales representatives will communicate detailed information about the price adjustments directly to customers.
Oil-Dri Corporation of America (NYSE: ODC) announced plans to raise prices on its cat litter products in the first quarter of fiscal year 2022. This decision comes due to significant increases in costs associated with freight, packaging, materials, and natural gas. Despite efforts to mitigate these cost pressures, the price hike is necessary to sustain product quality and service levels. Specifics about the price increase will be communicated directly to customers by the sales team.
Amlan International has appointed Chuck Snipes as the new key account manager for the U.S. coastal region, enhancing its push into the U.S. poultry market. With nearly 9 billion broilers in the U.S., Chuck's role is crucial as producers shift towards antibiotic-free poultry production. His 35 years of experience will help strengthen Amlan's customer relationships and support industry-leading producers. Amlan International, part of Oil-Dri Corporation of America, focuses on mineral-based feed additives and has expanded its R&D capabilities.
Amlan International has appointed Nguyen Hai as the new commercial manager for Vietnam, focusing on sales strategy to meet the rising demand for animal protein in Southeast Asia. With poultry consumption per person in Vietnam projected to increase from 13 kg in 2017 to 17 kg by 2027, Amlan aims to provide innovative mineral-based feed additives that enhance intestinal health and production efficiency. Nguyen brings significant experience from a national sales manager role and holds advanced degrees in animal science.
Oil-Dri Corporation of America (NYSE: ODC) announced a price increase for its agricultural, bleaching clay, and fluid purification products, effective August 1, 2021, ranging up to 7%. This decision, according to President and CEO Daniel S. Jaffee, is a response to significant inflationary pressures from rising freight, packaging, materials, natural gas, and manufacturing costs. Despite efforts in expense optimization and operational productivity, the company could no longer absorb these increases without implementing price changes.