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

Amlan International, a division of Oil-Dri Corporation of America, has strengthened its presence in the Philippines with the appointment of Jayson Fernandez as sales manager and the registration of FJ Wegon Animal Health and Nutrition Inc. to distribute Calibrin®-Z. The Philippines is a major poultry and swine producer in Southeast Asia. While the poultry industry faces post-COVID-19 recovery and swine repopulation challenges, Amlan aims to enhance animal health and profitability. Amlan’s innovative mineral technology promises to improve gut protection for livestock, supporting the company's expansion efforts in this key market.

On October 12, 2022, Oil-Dri Corporation of America (NYSE: ODC) declared quarterly cash dividends of $0.28 per share for Common Stock and $0.21 for Class B Stock, payable on November 25, 2022. The record date for stockholders is November 11, 2022. Oil-Dri has consistently paid cash dividends since 1974, raising them annually for 19 consecutive years. The company plans to release its fiscal Q1 earnings on December 6, 2022, and will hold a virtual earnings discussion on December 7, 2022.

Oil-Dri Corporation of America (NYSE: ODC) reported strong fourth quarter results with net sales reaching $93.2 million, a 19% increase year-over-year, and a consolidated net income of $5.2 million, up 762%. For the fiscal year 2022, total net sales hit $348.6 million, a 14% rise, while net income attributable to the company fell by 49% to $5.7 million due to a $5.6 million goodwill impairment charge. Despite inflationary pressures, the company showed growth in its cat litter and fluids purification segments, and announced a dividend increase for the 19th consecutive year, underlining its commitment to shareholder returns.

Oil-Dri Corporation's animal health business, Amlan International, is set to showcase its natural mineral-based feed additives at two major expos in China: the China Feed Expo from September 22-24 and the China Animal Husbandry Expo (CAHE) from September 27-29. Amlan emphasizes the benefits of its products, such as Calibrin-Z and Varium, which support animal health and productivity without antibiotics. Harold Zhou will discuss sustainable agriculture at CAHE. Amlan aims to strengthen its presence in China, enhancing its technical service team and addressing the needs of local producers.

Amlan International, part of Oil-Dri of America, is set to participate in the China Dairy Expo 2022 from September 5-7, 2022, in Ji’Nan, China. This expo is the largest dairy production event in China, with over 600 companies expected to attend. Amlan aims to support the growing dairy industry in China by promoting its product Calibrin-Z, a biotoxin binder that enhances milk production and gut health in livestock. With China's dairy market expanding due to rising health awareness, Amlan's innovative solutions are positioned to meet the demand for high-quality milk.

Oil-Dri Corporation of America (NYSE: ODC) will increase prices for its cat litter products effective October 17, 2022, across the U.S. and Canada. This decision is a response to significant inflation in commodities, transportation, labor, and manufacturing costs. The CEO, Daniel S. Jaffee, emphasized that despite improved efficiencies, pricing actions are necessary to mitigate margin pressures. Specific details regarding the price increase will be communicated to customers directly by sales representatives.

Oil-Dri Corporation of America (NYSE: ODC) announced a price increase for its industrial and automotive absorbents, effective October 1, 2022, ranging from 15% to 20%. These increases are necessary to counteract significant inflation in costs such as diesel, natural gas, and labor, as well as rising capital improvement costs. CEO Daniel S. Jaffee emphasized that these adjustments are vital for maintaining product quality and service levels amid ongoing elevated costs.

Oil-Dri Corporation of America (NYSE: ODC) announces that the Brazilian Patent Office has granted Patent No. 11 2015 007549 5 for a novel mineral-based formulation used in its animal health products, Varium and NeoPrime. These products aim to enhance intestinal health in swine and poultry without antibiotics, responding to Brazil's growing demand for antibiotic-free poultry production. With Brazil as a leading producer of poultry and pork, the patented formulation is positioned to support producers in maintaining animal health and productivity.