Record Net Income
Oil-Dri achieved a net income of $11.644 million, greater than all but 8 of their past 84 fiscal years. Through 9 months, they are ahead of all previous fiscal years.
Significant Dividend Increase
The Board raised the dividend by 16%, marking the 22nd consecutive year of dividend increases.
Strong Cash Flow
Year-to-date net cash provided by operating activities was $55 million, a 49% increase compared to the first 9 months of fiscal year 2024.
Successful Ultra Pet Acquisition
The acquisition hit its 1-year anniversary, performing well and hitting internal financial benchmarks with strong cost synergies.
Renewable Diesel Growth
Despite a 12% decline in U.S. renewable diesel production, Oil-Dri's relevant segment grew by 13% due to securing new business.