Financial Performance - Net sales for the three months ended October 31, 2024, were $127,945,000, an increase of 14.8% compared to $111,438,000 for the same period in 2023[17] - Gross profit for the three months ended October 31, 2024, was $40,780,000, representing a gross margin of 31.9%, up from $30,991,000 in 2023[17] - Net income for the three months ended October 31, 2024, was $16,376,000, a 52.5% increase from $10,742,000 in the same period last year[19] - Basic earnings per share for common stock increased to $2.43 for the three months ended October 31, 2024, compared to $1.61 in 2023[17] - Income from operations for the three months ended October 31, 2024, was $21,190,000, compared to $13,156,000 for the same period in 2023, reflecting a growth of 61.1%[87] - The company reported a total comprehensive income of $16,334,000 for the three months ended October 31, 2024, compared to $10,557,000 in the same period last year[19] Assets and Liabilities - Total current assets decreased to $144,115,000 as of October 31, 2024, from $147,158,000 as of July 31, 2024[12] - Total liabilities decreased to $126,179,000 as of October 31, 2024, from $144,017,000 as of July 31, 2024[15] - Total stockholders' equity increased to $223,992,000 as of October 31, 2024, compared to $210,588,000 as of July 31, 2024[15] - Total current liabilities decreased to $54,841,000 from $66,677,000, a reduction of 17.8%[15] - Total noncurrent liabilities decreased to $71,338,000 from $77,340,000, a decline of 7.8%[15] - Total assets as of October 31, 2024, were $350,171,000, a decrease from $354,605,000 as of July 31, 2024[12] Cash Flow and Investments - Total cash provided by operating activities for the three months ended October 31, 2024, was $10,919,000, up from $8,564,000 in 2023, indicating a 27.5% increase[24] - Capital expenditures for the three months ended October 31, 2024, were $12,817,000, compared to $8,064,000 in 2023, reflecting a 58.5% increase[24] - The balance of cash and cash equivalents at the end of the period was $13,506,000, down from $29,579,000 in 2023, indicating a decrease of 54.4%[24] - The company experienced a net decrease in cash and cash equivalents of $(10,975,000) in 2024, compared to $(2,175,000) in 2023, highlighting cash flow challenges[24] Dividends and Stock - The company declared dividends of $0.310 per share for common stock and $0.233 per share for Class B stock, compared to $0.290 and $0.218, respectively, in 2023[17] - Dividends declared in the three months ended October 31, 2024, were $2,098,000, compared to $1,953,000 in 2023, marking a 7.4% increase[24] - Stock-based compensation expense for the three months ended October 31, 2024, was $0.9 million, compared to $0.8 million in the same period of 2023[91] - As of October 31, 2024, there were 350,000 non-vested restricted shares outstanding, with a weighted average grant date fair value of $53.75 per share[92] Inventory and Receivables - Total inventories increased to $56.025 million as of October 31, 2024, compared to $54.236 million as of July 31, 2024, with finished goods rising from $31.772 million to $34.130 million[62] - The company reported an increase in accounts receivable of $9,020,000 for the three months ended October 31, 2024, compared to an increase of $1,487,000 in 2023[24] - Inventory reserves were $3.7 million as of October 31, 2024, down from $3.8 million as of July 31, 2024[62] Compliance and Accounting - The company is in compliance with all covenants as of October 31, 2024, with no new borrowings during the first quarter of fiscal year 2025[79] - The company has not adopted any new accounting pronouncements during the reporting period[57] - The company is currently evaluating the impact of new accounting standards issued by the FASB, including ASU No. 2023-09 and ASU No. 2023-07, which will enhance disclosures related to income taxes and segment reporting, respectively[53][54] Other Financial Metrics - The company recorded a loss on impairment of patent applications amounting to $48,000 in 2024, with no such loss reported in 2023[24] - Operating lease costs for the three months ended October 31, 2024, were $1.37 million, compared to $546,000 for the same period in 2023, indicating an increase of 150%[82] - The company had $5 million drawn under the Credit Agreement at a 6.66% interest rate as of October 31, 2024, with $2.9 million of letters of credit outstanding[79]

CHICAGO, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC) has once again received the honor of winning a Chicagoland Top Workplace award by the Chicago Tribune. The 2024 award is based solely on teammate feedback gathered through a confidential survey issued by a third-party. The survey uniquely measures the employee experience and its component themes, such as feeling respected and supported, having opportunities for growth, and being empowered to execute. Daniel S. Jaffee, Pres ...

CHICAGO, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC) recently announced to its customers that it will implement price increases on its industrial, automotive, and sports field products effective today, November 1, 2024. These price increases will range from 5% to 8%, depending on the product. Pricing actions are necessary to offset higher costs, as well as continued investments in manufacturing infrastructure improvements. About Oil-DriOil-Dri Corporation of America is a lea ...

CHICAGO, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC) announced today that it expects to release earnings for its first quarter of fiscal year 2025 after the close of the U.S. stock market on Monday, December 9, 2024. The Company will host its first quarter fiscal year 2025 earnings discussion and its fiscal year 2024 Annual Meeting of Stockholders virtually via a live webcast on Wednesday, December 11, 2024 at 9:30 a.m. Central Time. The record date for voting eligibility at ...

CHICAGO, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC), producer and marketer of sorbent mineral products, today announced results for its fourth quarter and fiscal year 2024. Fourth Quarter Year to Date (in thousands, except per share amounts) Ended July 31, Ended July 31, 2024 2023 Change 2024 2023 Change Consolidated Results Net Sales $ 113,702 $ 107,388 6 % $ 437,587 $ 413,021 6 % Operating Income (Including Unallocated Corporate Expenses) $ 12,892 $ 12,709 1 % $ 51,645 $ ...

In my last article about Oil-Dri Corporation of America, we only had data covering through the first quarter of the company's 2024 fiscal year. Today, we now have results covering through the third quarter. For the first nine months of the 2024 fiscal year, revenue for the company came in at $323.9 million. That's a respectful 6% increase over the $305.6 million the company generated one year earlier. According to management, this is due not only to higher prices on the firm's products, but also because of ...

Exhibit 99.1 Oil-Dri Announces Record Sales and Gross Profit for the Third Quarter and First Nine-Months of Fiscal 2024 CHICAGO-(June 6, 2024) - Oil-Dri Corporation of America (NYSE: ODC), producer and marketer of sorbent mineral products, today announced results for its third quarter and first nine-months of fiscal year 2024. | (in thousands, except per share amounts) | | | Third Quarter Ended April 30, | | | | Year to Date Ended April 30, | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2 ...

| UNITED STATES | | --- | | SECURITIES AND EXCHANGE COMMISSION | | Washington, D.C. 20549 | | FORM 10-Q | | (Mark One) | | ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | For the Quarterly Period Ended April 30, 2024 | | or | | ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | For the transition period from _____________ to ______________ | | Commission File Number 001-12622 | | OIL-DRI CORPORATION OF AMERICA | | (Exa ...

† Please refer to Reconciliation of Non-GAAP Financial Measures below for a reconciliation of Non-GAAP items to the comparable GAAP measures. Daniel S. Jaffee, President and Chief Executive Officer, stated, "I am pleased to report we set new records for sales and gross profit for the third quarter, representing a 1% and 10% increase, respectively, over the prior year. These results reflect the continued growth of our fluids purification and cat litter businesses. During these past three months, we invested ...

Third Quarter Year to Date (in thousands, except per share amounts) Ended April 30, Ended April 30, 2024 2023 Change 2024 2023 Change Consolidated Results Net Sales $ 106,779 $ 105,425 1% $ 323,885 $ 305,633 6% Net Income Attributable to Oil-Dri $ 7,777 $ 8,535 (9)% $ 30,901 $ 17,632 75% Net Income Attributable to Oil-Dri Excluding Nonrecurring Events † $ 7,777 $ 13,319 (42)% $ 31,363 $ 24,393 29% Diluted EPS - Common $ 1.07 $ 1.24 (14)% $ 4.26 $ 2.58 65% Diluted EPS - Common, Excluding Nonrecurring Events ...