Core Viewpoint - Oil-Dri Corporation of America has appointed Jonathan Blake as Vice President, Corporate Controller, effective immediately, to enhance its accounting and financial operations as the company continues to grow [1][3] Company Overview - Oil-Dri Corporation of America is a leading manufacturer and supplier of specialty sorbent products across various markets including pet care, animal health, agriculture, and industrial applications, with over 80 years of experience [4] Leadership Appointment - Jonathan Blake brings over 25 years of experience in accounting and finance, with a strong background in SEC reporting, SOX compliance, and financial system implementation [2] - Prior to joining Oil-Dri, Mr. Blake served as Global Corporate Controller at Videojet Technologies Inc. and held senior roles at Optimas OE Solutions Holdings and Kraft Foods [2] - His leadership is expected to support the company's tactical objectives and enhance financial reporting operations [3]

Core Viewpoint - Oil-Dri Corporation of America has appointed Jonathan Blake as Vice President, Corporate Controller, effective immediately, to enhance its accounting and financial operations as the company continues to grow [1][3]. Company Overview - Oil-Dri Corporation of America is a leading manufacturer and supplier of specialty sorbent products across various markets, including pet care, animal health, agriculture, and industrial applications, with over 80 years of experience [4]. Leadership Appointment - Jonathan Blake brings over 25 years of experience in accounting and finance, with a strong background in SEC reporting, SOX compliance, and financial system implementation [2]. - Prior to joining Oil-Dri, Mr. Blake held significant roles at Videojet Technologies Inc. and Optimas OE Solutions Holdings, and has extensive experience in public accounting with Deloitte & Touche [2]. Strategic Importance - Mr. Blake's leadership is expected to support Oil-Dri's tactical objectives and enhance financial reporting operations, contributing to the company's growth and operational efficiencies [3].

Financial Performance - Consolidated net sales for Q2 FY2025 reached $116.9 million, an 11% increase from $105.7 million in Q2 FY2024, driven by 7% organic growth and a 4% contribution from the acquisition of Ultra Pet Company[7] - Operating income rose to $17.5 million, a 15% increase compared to $15.2 million in the same period last year, supported by improved product mix and higher prices[10] - Net income for Q2 FY2025 was $12.9 million, reflecting a 4% increase from $12.4 million in Q2 FY2024, while EBITDA grew 16% to $22.2 million[13] - Gross profit for Q2 FY2025 was $34.4 million, an 11% increase, with gross margins at 29.5%, marking the tenth consecutive quarter of year-over-year margin expansion[8] - Operating income for the first six months of 2025 was $38,672,000, representing a 36.5% increase from $28,321,000 in the first six months of 2024[31] - Net income for the six months ended January 31, 2025, was $29,297,000, up 26.7% from $23,124,000 in the same period of 2024[33] - EBITDA for the second quarter of 2025 was $22,216,000, compared to $19,233,000 in Q2 2024, indicating a growth of 15.4%[34] - The company’s basic common net income per share increased to $2.17 for the six months ended January 31, 2025, from $1.72 in the same period of 2024[31] Revenue Breakdown - The Business to Business (B2B) Products Group reported revenues of $43.4 million, a 20% increase year-over-year, with fluids purification sales reaching $26.5 million, up 17%[15] - The Retail and Wholesale (R&W) Products Group's revenues increased to $73.5 million, a 6% rise, with $4.4 million contributed from the Ultra Pet acquisition[18] - Net sales for the second quarter ended January 31, 2025, increased to $116,914,000, a 10.4% rise from $105,668,000 in the same period of 2024[30] Expenses and Liabilities - Selling, general and administrative expenses (SG&A) increased by 8% to $17.0 million, reflecting higher compensation and strategic investments in data analytics[9] - The company reported a decrease in total liabilities from $77,340,000 as of July 31, 2024, to $65,697,000 as of January 31, 2025[32] Cash Flow and Investments - Cash and cash equivalents decreased to $22,589,000 as of January 31, 2025, from $27,800,000 at the end of the previous year[33] - The company paid down $5.0 million of its revolving credit facility used for the Ultra Pet acquisition, maintaining a focus on debt reduction and infrastructure investment[14] - The company paid dividends totaling $4,194,000 during the six months ended January 31, 2025, compared to $3,889,000 in the same period of 2024[33] Strategic Outlook - The company aims to continue driving sustainable growth while executing its strategic vision with discipline and efficiency in the second half of FY2025[6] - The effective tax rate increased to 20.5% in Q2 FY2025 from 15.7% in Q2 FY2024, due to higher pre-tax income[12] Other Financial Metrics - Total current assets rose slightly to $149,016,000 as of January 31, 2025, compared to $147,158,000 as of July 31, 2024[32] - Gross profit margin improved to 29.5% in Q2 2025, compared to 29.3% in Q2 2024, with gross profit reaching $34,448,000[30]

Core Viewpoint - Oil-Dri Corporation of America has declared quarterly cash dividends, continuing its long-standing practice of paying dividends since 1974 and increasing them annually for 21 consecutive years [1] Group 1: Dividend Declaration - The Board of Directors declared cash dividends of $0.155 per share for Common Stock and $0.1165 per share for Class B Stock [1] - The dividends will be payable on May 23, 2025, to stockholders of record as of May 9, 2025 [1] Group 2: Upcoming Financial Performance - The company will release its performance report for the third quarter of fiscal year 2025 after the U.S. stock market closes on June 5, 2025 [2] - An earnings discussion will be hosted via a live webcast on June 6, 2025, at 10:00 a.m. Central Time [2] Group 3: Company Overview - Oil-Dri is a leading manufacturer and supplier of specialty sorbent products across various markets, including pet care, animal health, and industrial applications [3] - The company is vertically integrated, overseeing all processes from research and development to marketing and sales [3] - With over 80 years of experience, Oil-Dri aims to create value from sorbent minerals [3]

Financial Performance - Net sales for the six months ended January 31, 2025, increased to $244.859 million, up from $217.106 million in the same period last year, representing a growth of 12.8%[13] - Gross profit for the six months ended January 31, 2025, was $75.228 million, compared to $61.933 million for the same period in 2024, reflecting a gross margin increase from 28.6% to 30.7%[13] - Net income for the six months ended January 31, 2025, was $29.297 million, an increase of 26.7% from $23.124 million in the prior year[13] - Earnings per share for basic common stock rose to $2.17 for the six months ended January 31, 2025, compared to $1.72 for the same period in 2024, marking a 26.2% increase[13] - Operating income for the six months ended January 31, 2025, was $38.672 million, up from $28.321 million in the prior year, representing a growth of 36.5%[13] - The company reported total comprehensive income of $29.089 million for the six months ended January 31, 2025, compared to $23.109 million for the same period in 2024, an increase of 25.8%[16] Assets and Liabilities - Total assets as of January 31, 2025, were $353.747 million, slightly down from $354.605 million as of July 31, 2024[10] - Total liabilities decreased to $117.887 million as of January 31, 2025, from $144.017 million as of July 31, 2024, indicating a reduction of 18.1%[12] - Stockholders' equity increased to $235.860 million as of January 31, 2025, up from $210.588 million as of July 31, 2024, reflecting an increase of 11.9%[12] Cash Flow and Investments - Total cash provided by operating activities for the six months ended January 31, 2025, was $32,330 thousand, compared to $17,945 thousand for the same period in 2024, reflecting a significant increase[27] - Capital expenditures for the six months ended January 31, 2025, were $17,806 thousand, up from $15,546 thousand in 2024, indicating ongoing investment in business operations[27] - Dividends paid during the six months ended January 31, 2025, totaled $4,194 thousand, compared to $3,889 thousand in 2024, representing an increase of 7.8%[27] Stock and Shareholder Information - The company declared a dividend of $0.310 per share for common stock for the six months ended January 31, 2025, compared to $0.290 in the same period last year[13] - The balance of common and Class B stock increased to 19,866,445 shares as of January 31, 2025, from 19,805,720 shares as of January 31, 2024[25] - A two-for-one stock split was approved by the Board of Directors, with additional shares distributed on January 3, 2025, and trading on a post-split basis began on January 6, 2025[36] - The stock split increased the number of authorized shares of Common Stock from 15 million to 30 million[37] Inventory and Receivables - Total inventories as of January 31, 2025, amounted to $55.231 million, a slight increase from $54.236 million as of July 31, 2024[62] - Inventory reserves were $3.6 million as of January 31, 2025, down from $3.8 million as of July 31, 2024[63] - The company experienced a decrease in accounts receivable by $4,424 thousand during the six months ended January 31, 2025, compared to a decrease of $64 thousand in 2024[27] Accounting and Compliance - The company has not adopted any new accounting pronouncements in the period[59] - The company is evaluating the impact of recently issued accounting standards on its disclosures[56] - Revenue is recognized when performance obligations are satisfied, with a recorded liability for advance payments of $0.1 million as of January 31, 2025[51] Legal and Regulatory Matters - The company believes that ongoing legal actions will not have a material adverse effect on its business or financial condition[72] Miscellaneous - The company incurred a loss on impairment of patent applications amounting to $49 thousand during the six months ended January 31, 2025[27] - Non-cash stock-based compensation for the six months ended January 31, 2025, was $2,542 thousand, slightly higher than $2,354 thousand in 2024[27]

Core Insights - Oil-Dri Corporation of America reported record net sales, gross profit, and net income for the second quarter of fiscal year 2025, driven by strategic growth in fluids purification and animal health businesses, as well as the crystal cat litter market [2][3][9] Consolidated Financial Results - Consolidated net sales for Q2 2025 reached $116.9 million, an 11% increase from $105.7 million in Q2 2024, with 7% organic growth and a 4% contribution from the acquisition of Ultra Pet Company [3][9] - Operating income rose to $17.5 million, a 15% increase compared to $15.2 million in the same quarter last year [6][9] - Net income for Q2 2025 was $12.9 million, reflecting a 4% increase from $12.4 million in Q2 2024 [9][10] - EBITDA grew by 16% to $22.2 million, up from $19.2 million in the prior year [9][30] Segment Performance Business to Business (B2B) Products Group - B2B revenues increased by 20% to $43.4 million, with fluids purification sales reaching $26.5 million, a 17% increase, and animal health sales growing by 82% to $7.7 million [11][13] - Operating income for the B2B segment was $14.3 million, a 30% increase from $11.0 million in the previous year [13] Retail and Wholesale (R&W) Products Group - R&W revenues grew by 6% to $73.5 million, with $4.4 million contributed from the Ultra Pet acquisition [14][16] - Operating income for the R&W segment decreased by 5% to $11.3 million, impacted by higher operating costs despite increased net sales [16] Cost and Expense Analysis - Consolidated gross profit for Q2 2025 was $34.4 million, an 11% increase from the previous year, with gross margins slightly improving to 29.5% [4][9] - Selling, general and administrative expenses rose to $17.0 million, an 8% increase attributed to higher compensation and advertising costs [5][15] Cash Flow and Balance Sheet - Cash and cash equivalents as of January 31, 2025, totaled $22.6 million, down from $23.5 million at the end of fiscal year 2024 [10][27] - The company paid down $5.0 million of its revolving credit facility used for the Ultra Pet acquisition [10]

Core Insights - Oil-Dri Corporation of America will showcase its innovative lightweight cat litter products at the 2025 Global Pet Expo, highlighting brands such as Cat's Pride®, Jonny Cat®, and Ultra® [1][5] - The company emphasizes its commitment to sustainability and environmental responsibility through the production of lightweight cat litter, which reduces transportation carbon footprint [4] Company Overview - Oil-Dri Corporation is a leading manufacturer of specialty sorbent products, with over 80 years of experience in various markets including pet care and industrial applications [6] - The company is vertically integrated, allowing it to manage the entire process from research and development to marketing and sales [6] Product Innovations - Following the acquisition of Ultra Pet Company in 2024, Oil-Dri introduced Cat's Pride Micro Crystal Litter, which absorbs moisture and controls odors for up to 30 days [3] - The company launched Cat's Pride Antibacterial Clumping Litter, the first EPA-approved antibacterial litter in the U.S., which kills 99.9% of odor-causing bacteria [3] Event Participation - Oil-Dri will exhibit at Booth 2020 during the Global Pet Expo, providing opportunities for retailers and consumers to learn about their latest products and innovations [1][5] - The company aims to cater to diverse consumer preferences with a range of branded and private label options in various litter formulas [4]

Core Points - Oil-Dri Corporation of Georgia was awarded Large Business of the Year at the 2025 Community Impact Awards, recognizing its contributions to the local community [1] - The company has been part of the local community for over 60 years, operating a site in Ochlocknee, GA, and employing 320 local team members [2] - Oil-Dri engages in various community service activities, including food drives and scholarships for local students [2][3] - The leadership of Oil-Dri expressed gratitude for the award and reaffirmed their commitment to community service and corporate responsibility [3] - Oil-Dri Corporation of America specializes in manufacturing and supplying specialty sorbent products across various markets, with over 80 years of experience [4]

CHICAGO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Amlan® International, a global leader in mineral-based animal health solutions, will exhibit at VIV Asia 2025, taking place March 12–14 at IMPACT in Bangkok, Thailand. This premier industry event will welcome over 47,000 attendees and 200 expert speakers from across the animal protein production sector. At booth 2-2842, Amlan's leadership, technical experts and regional sales team will showcase its innovative natural feed additives, including Phylox®, Calibrin®-Z, ...

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