Financial Data and Key Metrics Changes - In Q2, net sales decreased by 6%, while organic net sales decreased by 4.6% when excluding unfavorable foreign exchange impacts [20][35] - Adjusted EBITDA was $71.3 million, a decline of $24 million compared to the previous year, primarily due to lower sales volumes and increased brand-focused investments [22][36] - Gross margins decreased by 60 basis points to 37.5%, driven by lower volume, higher trade promotions, and inflation [22][35] Business Line Data and Key Metrics Changes - Global Pet Care reported a 7.1% decrease in net sales, with organic sales down 6.3%, affected by softness in both companion animal and aquatics categories [39][46] - Home and Garden net sales decreased by 5.2%, primarily due to timing shifts in retailer inventory builds [46][47] - Home and Personal Care saw a 5.1% decrease in reported net sales, with organic net sales down 2.2%, driven by softness in North America [53][58] Market Data and Key Metrics Changes - Consumer sentiment in the U.S. weakened, impacting category growth, with consumers seeking value amid economic uncertainty [21][22] - EMEA organic sales for Global Pet Care grew mid-single digits, while North American sales declined, particularly in premium segments [42][54] - Latin America experienced low double-digit growth in organic net sales, driven by strong new product launches [56] Company Strategy and Development Direction - The company is focused on protecting its balance sheet and generating free cash flow, targeting approximately $160 million for the year [24][61] - Plans to transition sourcing out of China are underway, with expectations to have 100% of Home and Garden sourced outside of China by the end of the calendar year [71][72] - The company aims to leverage its strong balance sheet for potential acquisitions in the pet category, positioning itself as a consolidator in the market [27][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current tariff environment and emphasized the importance of maintaining liquidity and a strong balance sheet [18][74] - The company anticipates challenges in the Home and Personal Care segment but expects to emerge stronger due to its strategic initiatives [70][72] - Management highlighted the potential for strategic acquisitions as asset prices reset in the current economic climate [66][73] Other Important Information - The company repurchased approximately 2 million shares during the second quarter, continuing its disciplined approach to share repurchases [30][31] - The company does not have sufficient visibility to provide an earnings framework for fiscal 2025 due to the unpredictable nature of global trade negotiations [32][61] Q&A Session Summary Question: Are there areas where the company sees itself competitively advantaged in sourcing? - Management indicated that while the tariff situation presents challenges, the company is well-positioned to reduce its exposure to China and has a competitive advantage due to its scale and strong relationships with suppliers [80][84] Question: Can the company frame the gross impact of tariffs and mitigation actions? - Management stated that while it is difficult to provide absolute numbers, the company has pivoted its operating strategy and stopped ordering from China, which will mitigate the gross impact of tariffs [88]

CONCORD, Ontario, May 07, 2025 (GLOBE NEWSWIRE) -- Ultrack Systems Inc. (OTC: MJLB), an emerging diversified holding company, is pleased to announce that Better Pets, its recent strategic acquisition target under a signed Memorandum of Understanding (MOU), has officially filed a U.S. trademark class application for its expanding line of health-focused pet products. This marks a major milestone in Better Pets’ North American market strategy and supports Ultrack’s commitment to entering the high-growth pet we ...

Group 1 - Cat's Pride, a brand of Oil-Dri Corporation of America, will donate up to 500,000 pounds of cat litter to local animal shelters as part of their "Love that Lasts" campaign from April 1 to April 30, 2025, coinciding with National "Adopt a Shelter Pet Day" [1] - The campaign aims to alleviate the resource burden on animal shelters by providing essential supplies such as cat litter, allowing them to focus on finding homes for the cats [1] - Cat's Pride offers a range of innovative lightweight litters that provide superior odor control and are easier to handle for both animal shelters and pet owners [2] Group 2 - The company has introduced a new Micro Crystals formula that offers powerful moisture absorption and odor-blocking capabilities, allowing for a month of use without changing the litter box for one cat [3] - Donations for the "Love that Lasts" campaign will be funded through the sales of all Cat's Pride products in April, including the new Micro Crystals and various package sizes of litter [3] - The President and CEO of Oil-Dri Corporation, Daniel S. Jaffee, will discuss the campaign and innovative products on The Balancing Act, airing on April 7 and 15 [4] Group 3 - Oil-Dri Corporation of America is a leading manufacturer of specialty sorbent products across various markets, including pet care and animal health, with over 80 years of experience [6] - The company is vertically integrated, allowing it to manage all aspects of production from research and development to marketing and sales [6]