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.
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Oil-Dri Corporation of America (NYSE: ODC) announced the appointment of Patricia "Patti" J. Schmeda to its Board of Directors on March 22, 2023. With over 30 years in information technology, Schmeda will enhance the Board's perspective on IT strategies and cybersecurity. She is currently Global CIO at Wahl Clipper Corporation and has a solid background in IT leadership roles. Additionally, the Board declared a quarterly cash dividend of $0.28 per share of Common Stock and $0.21 per share of Class B Stock, payable on May 26, 2023, to stockholders of record by May 12, 2023. Oil-Dri has paid continuous dividends since 1974 and has increased them annually for 19 years.
Dr. Robin Jarquin has been appointed as the new Director of Sales for LATAM at Amlan International, part of Oil-Dri Corporation of America. With over 17 years in the poultry industry, Dr. Jarquin will focus on expanding Amlan's operations in Latin America, which produced 28 million tons of broiler meat in 2021. He will advance product registration, including the anticoccidial alternative Phylox in Mexico and Chile, and support growth in both poultry and swine sectors. The region's pork production has also experienced over 20% growth in the past five years, positioning Amlan for further market share expansion.
Oil-Dri Corporation of America (NYSE: ODC) announced strong financial results for Q2 and the first half of fiscal 2023. Net sales reached $101.7 million, a 17% increase year-over-year. Net income attributable to Oil-Dri soared to $3.9 million, a 93% increase from $2.0 million in the previous year. Adjusted earnings per diluted share jumped 100% to $0.56. Notably, the Business to Business Products Group achieved record revenues of $35.2 million, driven by price increases. Despite a reserve of $2.5 million for landfill modifications, the company reported robust growth across its product portfolio, showcasing resilience in an inflationary environment.
Amlan International, a leader in natural feed additives, will participate in the VIV Asia 2023 conference from March 8-10 in Bangkok, Thailand. Focusing on animal health, Amlan's booth 3650 will showcase products like Phylox® and Calibrin®-Z, targeting gut health and production efficiency. Dr. Aldo Rossi and Dr. Marc Herpfer will present research on alternatives to anticoccidial drugs and biotoxin control, addressing critical industry challenges. Asia accounts for one-third of global broiler meat supply, highlighting the region's importance in global food production. Amlan aims to connect with producers to enhance poultry and livestock performance.
Amlan International, part of Oil-Dri Corporation, has received the 2023 New Product Showcase “Best of the Best” award at the International Production & Processing Expo for its product Phylox. This natural, non-pharmaceutical solution addresses coccidiosis, a major poultry disease, and offers a no-antibiotic-ever (NAE) alternative for producers. Phylox contains a blend of natural antiprotozoal phytochemicals and has shown to improve feed conversion, weight gain, and reduce mortality. The award recognizes innovations that advance the industry, and Amlan is positioned to enhance poultry production efficiency and profitability.
Amlan International, a leader in mineral-based feed additives, has appointed Chris Dyer as Director of Sales for North America. Dyer brings over 35 years of experience in poultry production and sales, aiming to enhance Amlan's growth strategies in the U.S. and Canada. His background includes managing a multimillion-dollar medicated feed additives program. The company focuses on delivering natural products that cater to rising customer demands for high-quality animal proteins. Amlan's products, such as Sorbiam™, have proven effective in the North American market, which contributes significantly to global broiler meat production.