Oil-Dri Q2 2021 Earnings Report
Key Takeaways
Oil-Dri Corporation of America announced a 5% increase in consolidated net sales for the second quarter of fiscal 2021, reaching $74.5 million, driven by higher demand for cat litter and animal health products. However, net income attributable to Oil-Dri decreased by 11% to $4.3 million due to higher commodity prices, increased freight costs, COVID-19 impacts, and increased investment spending in the animal health business.
Consolidated net sales increased by 5% to $74.5 million, setting a record for the second quarter.
Business to Business net sales increased by 7% to $26.3 million, driven by higher demand for animal health and agricultural products.
Retail and Wholesale net sales increased by 4% to $48.2 million, with record net sales for total domestic cat litter.
Net income attributable to Oil-Dri decreased by 11% to $4.3 million due to various market challenges and increased investment spending.
Oil-Dri
Oil-Dri
Oil-Dri Revenue by Segment
Forward Guidance
The recent elevated freight and commodity costs necessitated the implementation of mid-fiscal year price increases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income