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Oct 31, 2022
Oil-Dri Q1 2023 Earnings Report
Announced record sales and improved profitability.
Key Takeaways
Oil-Dri Corporation of America reported record consolidated net sales and improved profitability for the first quarter of fiscal year 2023. Net sales reached an all-time high, driven by pricing actions and increased demand across multiple product lines. Gross margins expanded, marking the fourth consecutive quarter of margin improvement. Consolidated net income attributed to Oil-Dri showed a strong improvement over the prior year.
Consolidated net sales reached a record $98.5 million, a 19% increase year-over-year.
Gross profit increased by 61% with margins expanding to 22.6% from 16.8% in the previous year.
Net income attributable to Oil-Dri was $5.2 million, a significant increase from $0.6 million in the prior year.
The company experienced double-digit growth across all principal products.
Revenue by Segment
Forward Guidance
The company anticipates further pricing actions in the months ahead and will be investing heavily in its manufacturing infrastructure to support increased demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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