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 ...

PART I – FINANCIAL INFORMATION [Item 1: Financial Statements](index=3&type=section&id=Item%201%3A%20Financial%20Statements) Presents Oil-Dri Corporation of America's unaudited Condensed Consolidated Financial Statements for the period ended April 30, 2024 [Condensed Consolidated Balance Sheet](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheet) Total assets increased to **$319.2 million** by April 30, 2024, driven by higher cash and property, with liabilities and equity also growing Condensed Consolidated Balance Sheet Highlights (in thousands of US dollars) | Metric | April 30, 2024 | July 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $46,821 | $31,754 | | Total Current Assets | $158,846 | $136,507 | | Total Property, Plant and Equipment, Net | $127,946 | $120,872 | | Total Assets | $319,152 | $286,235 | | **Liabilities & Equity** | | | | Total Current Liabilities | $51,918 | $58,768 | | Total Liabilities | $116,203 | $109,159 | | Total Stockholders' Equity | $202,949 | $177,076 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Nine-month net sales reached **$323.9 million** with net income at **$30.9 million**; Q3 net income decreased to **$7.8 million** despite sales growth Statements of Operations Highlights - Nine Months Ended April 30 (in thousands of US dollars) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Net Sales | $323,885 | $305,633 | | Gross Profit | $92,070 | $72,793 | | Income from Operations | $38,753 | $28,331 | | Net Income Attributable to Oil-Dri | $30,901 | $17,632 | | Diluted EPS (Common) | $4.26 | $2.58 | Statements of Operations Highlights - Three Months Ended April 30 (in thousands of US dollars) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Net Sales | $106,779 | $105,425 | | Gross Profit | $30,137 | $27,467 | | Income from Operations | $10,432 | $14,456 | | Net Income Attributable to Oil-Dri | $7,777 | $8,535 | | Diluted EPS (Common) | $1.07 | $1.24 | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow was **$36.9 million**, investing used **$23.5 million**, financing provided **$1.5 million**, increasing cash by **$15.1 million** Cash Flow Summary - Nine Months Ended April 30 (in thousands of US dollars) | Cash Flow Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $36,929 | $36,041 | | Net Cash Used in Investing Activities | ($23,536) | ($16,735) | | Net Cash Provided by (Used in) Financing Activities | $1,462 | ($5,806) | | **Net Increase in Cash and Cash Equivalents** | **$15,067** | **$13,448** | - Capital expenditures increased to **$23.7 million** from **$16.7 million** in the prior-year period, reflecting expansion of plant equipment and facility improvements[28](index=28&type=chunk)[135](index=135&type=chunk) - Financing activities included **$10 million** in proceeds from notes payable, offset by **$5.8 million** in dividend payments and **$2.7 million** in treasury stock purchases[28](index=28&type=chunk)[136](index=136&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, segment performance, debt, and the **$46 million** Ultra Pet acquisition, including its **$10 million** debt financing - On May 1, 2024, the company acquired Ultra Pet Company for approximately **$46 million** to enter the crystal cat litter market, financed with cash, a **$10 million** credit advance, and **$10 million** in new Series D Senior Notes[91](index=91&type=chunk) - In Q2 FY2023, a **$2.5 million** reserve for landfill modification costs was recorded, increased by **$0.5 million** in FY2024, with work expected to complete in Q4 2024[67](index=67&type=chunk) - The company issued **$10 million** of **6.47%** Series D Senior Notes due April 30, 2033, and amended its credit agreement to facilitate the Ultra Pet acquisition[70](index=70&type=chunk)[72](index=72&type=chunk) [Item 2: Management's Discussion and Analysis of Financial Condition and Results Of Operations (MD&A)](index=27&type=section&id=Item%202%3A%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20Of%20Operations%20%28MD%26A%29) MD&A highlights strong nine-month sales and gross profit growth, Q3 net income decline from SG&A, and robust liquidity for the Ultra Pet acquisition [Results of Operations - Nine Months Ended April 30, 2024](index=27&type=section&id=Results%20of%20Operations%20-%20Nine%20Months%20Ended%20April%2030%2C%202024) Nine-month consolidated net sales grew **6%** to **$323.9 million**, gross profit surged **27%**, and operating income increased **$10.4 million** despite **20%** higher SG&A Consolidated Results - Nine Months Ended April 30 (in millions of US dollars) | Metric | 2024 | 2023 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $323.9 | $305.6 | +6% | | Gross Profit | $92.1 | $72.8 | +27% | | Income from Operations | $38.8 | $28.3 | +37% | | Net Income | $30.9 | $17.6 | +76% | - B2B segment sales increased **7%** to **$111.6 million**, primarily due to a **23%** (**$12.4 million**) increase in fluids purification products from new renewable diesel customers[105](index=105&type=chunk) - R&W segment sales grew **5%** to **$212.3 million**, mainly driven by a **6%** (**$10.5 million**) increase in global cat litter sales due to higher pricing and favorable mix[108](index=108&type=chunk) - SG&A expenses rose **20%** (**$8.9 million**), attributed to higher compensation costs, performance-based incentives, and acquisition-related expenses[101](index=101&type=chunk) [Results of Operations - Three Months Ended April 30, 2024](index=30&type=section&id=Results%20of%20Operations%20-%20Three%20Months%20Ended%20April%2030%2C%202024) Q3 net sales rose **1%** to **$106.8 million**; however, a **51%** SG&A surge led to operating income of **$10.4 million** and net income of **$7.8 million** Consolidated Results - Three Months Ended April 30 (in millions of US dollars) | Metric | 2024 | 2023 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $106.8 | $105.4 | +1% | | Gross Profit | $30.1 | $27.5 | +9% | | SG&A Expenses | $19.7 | $13.0 | +51% | | Income from Operations | $10.4 | $14.5 | -28% | | Net Income | $7.8 | $8.5 | -8% | - The **51%** increase in SG&A was due to higher anticipated compensation costs, increased performance-based incentive accruals, and acquisition-related expenses for Ultra Pet[116](index=116&type=chunk) - B2B segment sales grew **2%** to **$36.2 million**, led by a **26%** increase in fluids purification products, offsetting declines in agricultural and animal health products[120](index=120&type=chunk) - R&W segment sales increased **1%** to **$70.6 million**, driven by higher prices for cat litter, which offset softer volumes[124](index=124&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity is strong with cash up **$15.1 million** to **$46.8 million**, supported by **$36.9 million** operating cash flow and **$10 million** new debt for Ultra Pet - Principal liquidity needs include capital requirements, working capital, stock repurchases, dividends, and debt service[129](index=129&type=chunk) - Cash provided by financing activities was **$1.5 million**, driven by a **$10 million** note issuance, offset by dividend payments and treasury stock repurchases[136](index=136&type=chunk) - The company expects capital expenditures in fiscal 2024 to be greater than in fiscal 2023[139](index=139&type=chunk) [Item 4: Controls and Procedures](index=33&type=section&id=Item%204%3A%20Controls%20and%20Procedures) CEO and CFO concluded disclosure controls were effective as of April 30, 2024, with no material changes to internal control over financial reporting - The CEO and CFO concluded that as of the end of the reporting period, the company's disclosure controls and procedures were effective[142](index=142&type=chunk) - No changes occurred during the fiscal quarter ended April 30, 2024, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[143](index=143&type=chunk) PART II – OTHER INFORMATION [Item 1A: Risk Factors](index=34&type=section&id=Item%201A%3A%20Risk%20Factors) No material changes to risk factors have occurred since the January 31, 2024, quarterly report, referring to prior disclosures - There have been no material changes to the company's risk factors since the previous quarterly report for the period ending January 31, 2024[146](index=146&type=chunk) [Item 2: Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202%3A%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered securities were sold; **1,651** common shares were repurchased at **$69.48** for tax purposes, with significant repurchase authority remaining Issuer Purchases of Equity Securities (Q3 FY2024) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | March 2024 | 1,651 | $69.48 | - As of April 30, 2024, **380,753** shares of Common Stock and **262,092** shares of Class B Stock remain authorized for repurchase[138](index=138&type=chunk)[149](index=149&type=chunk) [Item 4: Mine Safety Disclosures](index=35&type=section&id=Item%204%3A%20Mine%20Safety%20Disclosures) Mine safety disclosures, as required by the Dodd-Frank Act, are provided in Exhibit 95 of this quarterly report - Mine safety disclosures required under the Dodd-Frank Wall Street Reform and Consumer Protection Act are provided in Exhibit 95 to the Form 10-Q[150](index=150&type=chunk) [Item 5: Other Information](index=35&type=section&id=Item%205%3A%20Other%20Information) No officers or directors adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter - No officers or directors adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the quarter[151](index=151&type=chunk) [Item 6: Exhibits](index=36&type=section&id=Item%206%3A%20Exhibits) Lists exhibits filed with Form 10-Q, including the Ultra Pet acquisition agreement, credit agreement amendment, and CEO/CFO certifications - Key exhibits filed include the Stock Purchase Agreement for Ultra Pet, an amendment to the credit agreement with BMO Bank, and CEO/CFO certifications[152](index=152&type=chunk) Signatures Report signed on June 6, 2024, by Daniel S. Jaffee, CEO, and Susan M. Kreh, CFO, for Oil-Dri Corporation of America

Core Insights - Oil-Dri Corporation reported record sales and gross profit for the third quarter of fiscal 2024, with net sales increasing by 1% to $106.8 million and gross profit rising by 10% to $30.1 million compared to the previous year [2][5][23]. Financial Performance - Consolidated net income attributable to Oil-Dri decreased by 9% to $7.8 million in the third quarter, while year-to-date net income increased by 75% to $30.9 million [4][8]. - Diluted earnings per share (EPS) for the third quarter was $1.07, down 14% from $1.24 in the prior year, but year-to-date diluted EPS increased by 65% to $4.26 [4][42]. - Selling, general and administrative (SG&A) expenses rose by 51% to $19.7 million in the third quarter, primarily due to increased compensation and advertising costs related to the acquisition of Ultra Pet Company [6][12]. Segment Performance - The Business to Business (B2B) Products Group saw revenues of $36.2 million, a 2% increase driven by higher prices and improved product mix, despite lower volumes [27]. - The Retail and Wholesale (R&W) Products Group's revenues reached $70.6 million, a 1% increase, supported by higher prices of domestic and co-packaged cat litter products [11][30]. - Operating income for the R&W Products Group increased by 1% to $10.9 million, attributed to higher prices and improved product mix [28][30]. Acquisition Details - Oil-Dri completed the acquisition of Ultra Pet Company for $46 million, which is expected to enhance its position in the cat litter market and contribute to earnings in the fourth quarter of fiscal 2024 [31][32]. - The integration of Ultra Pet is anticipated to be seamless, with financial results reported under the cat litter principal product within the R&W Products Group [32]. Market Trends - The increase in gross margins to 28% from 26% year-over-year was driven by higher selling prices and an improved product mix, marking seven consecutive quarters of gross margin expansion [23]. - The company noted a decline in sales from agricultural, animal health, and industrial & sports products, indicating challenges in those segments [5][27].

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 ...

CHICAGO, June 05, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Oil-Dri Corporation of America (NYSE: ODC) today declared quarterly cash dividends of $0.31 per share of the Company's Common Stock and $0.233 per share of the Company's Class B Stock, an approximate 7% increase for both classes of stock. Oil-Dri Corporation of America ("Oil-Dri") is a leading manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients ...

CHICAGO, June 05, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Oil-Dri Corporation of America (NYSE:ODC) today declared quarterly cash dividends of $0.31 per share of the Company's Common Stock and $0.233 per share of the Company's Class B Stock, an approximate 7% increase for both classes of stock. This declaration marks the 21st consecutive year the Company has increased dividends. Oil-Dri has paid cash dividends continuously since 1974, and historically has increased quarterly cash dividends by $0. ...

CHICAGO, May 01, 2024 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE:ODC) ("Oil-Dri"), a leading manufacturer of sorbent minerals including clay-based cat litter, announces the closing of its previously announced $46 million acquisition of Ultra Pet Company, Inc. ("Ultra Pet"), a prominent supplier of silica gel-based crystal cat litter. The transaction was financed through a combination of cash-on-hand and Oil-Dri's existing credit facilities. To ensure the successful integration of Ultra Pet int ...

410 N. Michigan Ave. Chicago, Illinois 60611, U.S.A News Announcement For Immediate Release Exhibit 99.1 Daniel S. Jaffee, President and Chief Executive Officer, stated, "I am pleased to report another exceptional quarter, marked by growth in consolidated net sales, gross profit, and net income. Increased sales of renewable diesel and cat litter products pushed our revenues to record highs for the second quarter. Our strategic initiatives to improve gross margins yielded positive results in the second quart ...

| 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 January 31, 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 ...

Net Income and Earnings - Net income for the three months ended October 31, 2023, was $10.742 million, compared to $5.230 million in the same period last year[24] - Net income for the three months ended October 31, 2023 was $10.742 million, with basic EPS of $1.61 and diluted EPS of $1.50[53] - Net income attributable to Oil-Dri increased to $10.74 million in Q3 2023 from $5.24 million in Q3 2022, a growth of 105%[83] Depreciation and Amortization - Depreciation and amortization expenses increased to $4.368 million in Q3 2023, up from $3.523 million in Q3 2022[24] Capital Expenditures - Capital expenditures for the three months ended October 31, 2023, were $8.064 million, compared to $6.737 million in the same period last year[24] - Accrued capital expenditures not yet paid amounted to $3.532 million as of October 31, 2023, up from $1.381 million in the same period last year[26] Cash and Cash Equivalents - Cash and cash equivalents decreased by $2.175 million in Q3 2023, ending the period at $29.579 million[24] - Cash equivalents as of October 31, 2023 were $15.4 million, classified as Level 1 fair value measurements[56] Capital Parts Reserve - The capital parts reserve was $1.7 million as of October 31, 2023, down from $2.0 million as of July 31, 2023[37] Dividends - Dividends paid in Q3 2023 amounted to $1.927 million, slightly higher than the $1.851 million paid in Q3 2022[24] Stock-Based Compensation - Non-cash stock-based compensation increased to $1.108 million in Q3 2023, up from $0.794 million in Q3 2022[24] - Stock-based compensation was $0.8 million for the first quarter of fiscal years 2024 and 2023[86] Accounts Receivable and Inventories - Accounts receivable decreased by $1.487 million in Q3 2023, compared to a decrease of $1.622 million in Q3 2022[24] - Inventories decreased by $1.374 million in Q3 2023, compared to a decrease of $5.202 million in Q3 2022[24] - Total inventories as of October 31, 2023 were $43.832 million, including finished goods of $23.734 million and spare parts of $6.379 million[55] Accrued Expenses - Accrued expenses as of October 31, 2023 totaled $32.613 million, including $9.556 million for salaries and wages[62] Landfill Modification Costs - A $2.5 million reserve was recorded in Q2 FY2023 for landfill modification costs in Georgia, with no changes in Q1 FY2024[64] Debt and Credit Facilities - Outstanding debt includes $7 million of 3.95% Series B Senior Notes due 2030 and $25 million of 3.25% Series C Senior Notes due 2031[65] - The company has a $45 million unsecured revolving credit facility, with $1.0 million in letters of credit outstanding as of October 31, 2023[69] Operating Lease Costs - Operating lease costs for the three months ended October 31, 2023 were $546 thousand[72] Postretirement Health Benefits - The discount rate for postretirement health benefits was 4.90% for the three months ended October 31, 2023[78] Net Sales by Product Group - Net sales for the Business to Business Products Group increased to $39.16 million in Q3 2023 from $33.69 million in Q3 2022, a growth of 16.2%[81] - Net sales for the Retail and Wholesale Products Group increased to $72.28 million in Q3 2023 from $64.85 million in Q3 2022, a growth of 11.5%[81] Total Assets - Total assets increased to $288.77 million as of October 31, 2023, compared to $286.24 million as of July 31, 2023[82] Restricted Stock and Comprehensive Loss - Non-vested restricted stock outstanding increased to 472 thousand shares as of October 31, 2023, from 348 thousand shares as of July 31, 2023[87] - Accumulated other comprehensive loss decreased to $563 thousand as of October 31, 2023, from $748 thousand as of July 31, 2023[88] Related Party Transactions - Payments to a related party vendor were $0.1 million for the first three months of fiscal years 2024 and 2023[89]