Oil-Dri Corp of America Up 9.12% To $44.25 After Earnings

Friday, June 9, 2023 - Oil-Dri Corp of America (ODC) reported upside earnings and revenues today.

Oil-Dri Corp of America's earnings came in at an EPS of $1.94 per share. The firm's earnings are up 706% since reporting losses of $0.32 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $105.4 million. That revenue figure is an increase of 22.93% from the year ago quarter.

The stock is up 9.12% to $44.25 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Trading in the five days leading up to the report earned Oil-Dri Corp of America a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 63.

Oil-Dri Corp of America develops, manufactures, and markets sorbent products made primarily from clay. Its absorbent offerings, which draw liquid up, include cat litter, floor products, toxin control substances for livestock, and agricultural chemical carriers. The company has two segments based on the different characteristics of two primary customer groups namely Retail and Wholesale Products Group and Business to Business Products Group. The company's products are sold under various brands such as Cat's Pride, Jonny Cat, Amlan, Agsorb, Verge, Pure-Flo, and Ultra-Clear.