Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Akanksha Bakshi

Oil-Dri Clocks 17% Sales Growth In Q2

  • Oil-Dri Corporation of America (NYSE:ODC) reported second-quarter sales growth of 17.1% year-over-year to $87.21 million, beating the consensus of $61.67 million.
  • The company states that revenue growth was demonstrated across all principal product segments, with significant sales from cat litter, fluids purification, and agricultural products.
  • The gross margin declined by 453 bps to 17.9%.
  • The operating income declined by 54.8% Y/Y to $1.92 million, and the margin contracted by 350 bps to 2.2%.
  • EPS decreased to $0.28 from $0.61 in 2Q21.
  • ODC generated cash from operating activities year-to-date of $61 thousand, compared to $3.08 million a year ago. It held cash and cash equivalents of $29 million at the end of the quarter.
  • During the quarter, Oil-Dri repurchased 113,236 shares for ~$3.9 million.
  • Price Action: ODC closed lower by 3.85% at $27 on Friday​​​​​​.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.