Quarterly ResultJun 8, 2026, 04:16 PM
Oil-Dri Reports Record Q3 Sales of $126.3M; Dividend Increased 10%
AI Summary
Oil-Dri Corporation of America announced record third quarter results with net sales up 9% to $126.3 million and net income up 25% to $14.5 million. The company also announced a 10% increase in its quarterly cash dividend, marking the 23rd consecutive year of dividend growth, and authorized a new share repurchase program for up to 500,000 shares. Growth was driven by strong performance in the Retail and Wholesale segment, particularly cat litter sales, and positive contributions from the Business to Business segment.
Key Highlights
- Oil-Dri reported record third quarter net sales of $126.3 million, a 9% increase year-over-year.
- Net income for the third quarter increased 25% to $14.5 million, or $1.00 per diluted common share.
- The Board of Directors declared a quarterly cash dividend of $0.225 per share of Common Stock and $0.168 per share of Class B Stock, a 10% increase.
- The Board authorized the repurchase of up to 500,000 shares of Common Stock.
- Retail and Wholesale segment net sales grew 13% to $82.5 million, driven by cat litter demand.
- Business to Business segment net sales increased 3% to $43.8 million, with agricultural and animal health businesses showing growth.
- Consolidated income from operations increased 23% to $17.1 million.
- Cash and cash equivalents increased to $62.9 million as of April 30, 2026.
Price Impact
More from ODC