Oil-Dri Corporation of America reports Q3 EPS $1.07 vs. $1.94 last year

Reports Q3 revenue $106.78M vs. $105.43M last year. 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 heavily in our teammates and on advertising. While these elevated costs impacted our bottom line, we believe they will help drive future growth of our company. I am also very excited about the Ultra Pet Company, Inc. acquisition which closed on May 1, 2024. This strategic move will help propel Oil-Dri into the rapidly growing crystal cat litter market. As we begin the integration process in the fourth quarter of fiscal 2024, we anticipate this acquisition to be immediately accretive to our earnings and that it will create long-term value for our shareholders.”