Oil-Dri Q3 2021 Earnings Report
Key Takeaways
Oil-Dri Corporation of America reported flat consolidated net sales for the third quarter of fiscal year 2021, with a decrease in net income attributable to Oil-Dri due to increased costs and reduced gross margins. The company experienced growth in industrial, sports, agricultural, and animal health product sales, but this was offset by lower cat litter sales and higher expenses.
Consolidated net sales were essentially flat at $76.3 million compared to the prior year.
Net income attributable to Oil-Dri decreased by 52% to $2.2 million.
Gross profit decreased due to a 14% increase in cost of goods sold per manufactured ton.
The Retail and Wholesale Products Group's third quarter revenues reached a record $50 million, a 1% increase over the prior year.
Oil-Dri
Oil-Dri
Oil-Dri Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income