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- **Record Fiscal 2025 Performance**: Net sales ($325M), gross profit ($182M), and net income ($72M) set new highs, driven by Mini Ball strategy.
- **Strong Q1 2026 Start**: $120M net sales, 11% YoY growth, with EBITDA of $24M and net cash position.
- **Capital Investment Focus**: $25M+ in FY2025 for rail, compressed air, and robotics, supporting operational efficiency.
- **Growth Drivers**: Renewable diesel (20% CAGR), lightweight litter (16.7% CAGR), and Verge agricultural products.
- **Risks**: Tariffs impacting Amlan, but Q1 2026 orders rebounding in Brazil.

**【Management Opening Remarks】**
- Leslie Garber and Anthony Parker conducted the formal meeting, confirming the election of 9 directors and ratification of Grant Thornton as auditor. A quorum was achieved with 26.5 million votes, and all proposals passed.

**【CEO Summary Section】**
- Daniel Jaffee highlighted a 23-year strategy shift from volume to value creation, resulting in a 5% CAGR in net sales and 7.6% CAGR in gross profit per ton. Fiscal 2025 saw record net sales ($325M), gross profit ($182M), and net income ($72M). The dividend increased 22% annually, and the stock price rose from $4 to $56.

**【CFO Financial Commentary】**
- Susan Kreh reported Q1 2026 net sales of $120M, up 11% YoY, driven by price/mix (6%), volume (3%), and Ultra Pet (2%). Gross profit per ton ($175) matched FY2025 average. EBITDA was $24M, and the balance sheet remained strong with $39.8M debt and net cash position.

**【Operations Update】**
- Aaron Christiansen detailed $25M+ in FY2025 capital investments, including rail infrastructure, compressed air efficiency, environmental controls, and robotics. These projects enhance operational flexibility, cost efficiency, and safety.

**【Business Segment Updates】**
- **Fluids Purification**: Bruce Patsey noted 20% FY2025 growth in renewable diesel and vegetable oil businesses. EPA regulations may boost demand, with Q1 2026 sales above plan.
- **Consumer Products**: Laura Scheland highlighted 16.7% CAGR in lightweight litter and Crystal Litter. Distribution expanded 58% post-Ultra Pet acquisition, with 45% dollar share in new markets.
- **Agriculture**: Wade Robey reported a record Q1 2026 for Verge sales, driven by higher service levels and price adjustments. The division targets 5%+ CAGR in feed additives.

**【Q&A Highlights】**
- **Second Half Recovery**: CEO Dan Jaffee confirmed confidence in meeting FY2026 plan, with Q1 ahead of expectations.
- **Sustainable Aviation Fuel**: Bruce Patsey expects growth as renewable diesel producers expand into aviation.
- **Amlan Headwinds**: Wade Robey cited tariffs as a challenge but noted orders rebounding in Brazil.
- **R&D Investments**: Mervyn de Souza highlighted new Crystal litter products and lightweight innovations.
- **Service Levels**: Aaron Christiansen reported 99.8% fill rate and 94-95% on-time delivery, unchanged from prior year.

Oil-Dri Corporation of America(ODC)-20251209-2026 Q1 Earnings call transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

ODC

ODC fundamentals

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