ODC 8-K
Oil-Dri Corp of America (ODC)
8-K
2026-10-08
For: 2026-10-08
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Added on
October 08, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 2.02 | Results of Operations and Financial Condition. | |||||||
On October 8, 2026 , Oil-Dri Corporation of America (the “Company”) issued a press release announcing its results of operations for its fourth quarter and fiscal year ended July 31, 2026. A copy of the press release is attached as Exhibit 99.1, and the information contained therein is incorporated herein by reference.
The information in this Item 2.02, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. This information shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference to such disclosure in this Form 8-K in such a filing.
| Item 8.01 | Other Events. | |||||||
At its regular meeting on October 7, 2026, the Board of Directors of the Company (the “Board”) appointed Anthony W. Parker, Vice President, General Counsel & Secretary, as an executive officer of the Company and declared quarterly cash dividends of $0.225 per share of Common Stock, and $0.168 per share of Class B Stock. The dividends will be payable on November 20, 2026 to stockholders of record at the close of business on November 6, 2026.
A copy of the press release issued on October 7, 2026 announcing these matters is attached as Exhibit 99.2, and the information contained therein is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. | |||||||
(d)Exhibits
| Exhibit | ||||||||
| Number | Description of Exhibits | |||||||
| 99.1 | ||||||||
| 99.2 | ||||||||
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the iXBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| OIL-DRI CORPORATION OF AMERICA | |||||||||||
| By: | /s/ Anthony W. Parker | ||||||||||
| Anthony W. Parker | |||||||||||
| Vice President, General Counsel & Secretary | |||||||||||
Date: October 8, 2026
410 N. Michigan Ave. Chicago, Illinois 60611, U.S.A
News Announcement
For Immediate Release
Exhibit 99.1
Oil-Dri Delivers Record Annual Financial Results,
Including All-Time High Fourth Quarter Sales and Historic Cash Generation
CHICAGO-(October 8, 2026) - Oil-Dri Corporation of America (NYSE: ODC), producer and marketer of sorbent mineral products, today announced results for its fourth quarter and fiscal year 2026.
| Fourth Quarter | Year to Date | |||||||||||||||||||
| (in thousands, except per share amounts) | Ended July 31, | Ended July 31, | ||||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||
| Consolidated Results | ||||||||||||||||||||
| Net Sales | $ | 129,292 | $ | 125,212 | 3% | $ | 493,844 | $ | 485,572 | 2% | ||||||||||
| Income from Operations * | $ | 18,242 | $ | 15,644 | 17% | $ | 67,982 | $ | 68,220 | —% | ||||||||||
| Net Income | $ | 14,418 | $ | 13,055 | 10% | $ | 56,969 | $ | 53,996 | 6% | ||||||||||
| EBITDA † | $ | 24,120 | $ | 21,358 | 13% | $ | 93,266 | $ | 89,989 | 4% | ||||||||||
| Diluted EPS - Common | $ | 1.00 | $ | 0.89 | 12% | $ | 3.92 | $ | 3.70 | 6% | ||||||||||
| Business to Business | ||||||||||||||||||||
| Net Sales | $ | 50,094 | $ | 48,087 | 4% | $ | 180,198 | $ | 182,596 | (1)% | ||||||||||
| Segment Operating Income | $ | 16,956 | $ | 14,982 | 13% | $ | 55,348 | $ | 59,796 | (7)% | ||||||||||
| Retail and Wholesale | ||||||||||||||||||||
| Net Sales | $ | 79,198 | $ | 77,125 | 3% | $ | 313,646 | $ | 302,976 | 4% | ||||||||||
| Segment Operating Income | $ | 9,260 | $ | 9,723 | (5)% | $ | 43,730 | $ | 44,137 | (1)% | ||||||||||
* Comprised of Consolidated Operating Income less unallocated corporate expenses.
† Please refer to Reconciliation of Non-GAAP Financial Measures below for a reconciliation of Non-GAAP items to the comparable GAAP measures.
† Please refer to Reconciliation of Non-GAAP Financial Measures below for a reconciliation of Non-GAAP items to the comparable GAAP measures.
Daniel S. Jaffee, President and Chief Executive Officer, stated, “Fiscal year 2026 has been especially meaningful as we celebrated our 85th anniversary and reported our strongest full-year sales and net income in history. In the first half of the year, we faced difficult comparisons against a robust prior period. Our team remained focused on growing the business in the second half and ultimately delivered solid results that surpassed last year’s performance. The fourth quarter closed out the year on a high note, with record breaking sales. While some areas of our business encountered headwinds, others delivered strong growth, demonstrating the benefit of our diverse product portfolio. Despite inflationary cost pressures, we maintained disciplined expense management and achieved historic levels of cash generation, while continuing to invest in our business and returning value to shareholders with two dividend increases. As we enter fiscal 2027, we remain focused on our strategic initiatives and supporting our businesses.”
Full Year Results
Consolidated net sales for fiscal year 2026 reached an all-time high of $493.8 million, a 2% increase over the prior year, primarily due to favorable product mix. The Retail & Wholesale (“R&W”) Products Group delivered record sales of $313.6 million, up 4% over last year, driven
by a 47% increase in co-packaged cat litter, a 16% gain in crystal litter, and a 3% improvement in industrial and sports products. This growth was partially offset by a 1% decline in domestic clay litter sales, reflecting changes in private label distribution and the absence of certain non-recurring promotional activity from the prior year. The Business to Business (“B2B”) Products Group generated solid revenues of $180.2 million, a slight decrease of 1% from the prior year. Agricultural carriers achieved record sales, increasing 11% year-over-year, while revenues from fluids purification and animal health products declined 5% and 7%, respectively, due to lower demand compared with exceptionally strong prior-year results.
Annual consolidated gross profit was $137.5 million, down 4% from last year. Gross margins declined to 27.8% in fiscal year 2026 from 29.5% in fiscal year 2025. This was driven by a 4% increase in per ton domestic cost of goods sold, resulting from higher manufacturing and freight costs.
Selling, general and administrative ("SG&A") expenses were $69.5 million in fiscal year 2026 compared to $74.9 million in the prior year. This 7% decline primarily reflects lower human resource costs attributable to corporate functions, a reduced bonus accrual, and decreased outside services expenses.
Fiscal year 2026’s consolidated operating income was $68.0 million and remained relatively flat compared to last year. Higher sales and lower SG&A expenses offset cost increases.
Total other income, net was $1.5 million in fiscal 2026 compared to total other expense, net of $2.0 million in fiscal 2025. The year-over-year change primarily reflects lower landfill modification costs in fiscal 2026 compared to an increase in the estimated obligation recognized in fiscal 2025, as well as higher interest income. The improvement was also driven by the positive outcome of a confidential legal settlement in the matter of Oil-Dri Corporation of America vs. Entera Animal Health, et al.
Income tax expense for fiscal year 2026 was $12.5 million compared to $12.2 million in the same period last year. This 3% increase resulted from higher pre-tax income.
Annual consolidated net income reached a record $57.0 million in fiscal 2026, or a 6% increase over the prior year.
Cash and cash equivalents grew to a historic high of $73.7 million at the end of fiscal year 2026, compared to $50.5 million at the end of fiscal year 2025, reflecting strong earnings and disciplined cash management. The Company generated this remarkable level of cash flow while simultaneously investing in its infrastructure and returning capital to shareholders, including $34.2 million in capital expenditures, $12.6 million in share repurchases, and $10.4 million in dividends paid during the year.
Fourth Quarter Results
Consolidated Performance
Consolidated net sales for the fourth quarter of fiscal 2026 reached $129.3 million, a 3% increase over the prior year period and the highest quarterly revenue in the Company’s history. Topline
growth was achieved in both the B2B and R&W Products Groups, mainly due to improved product mix.
Consolidated gross profit was $36.0 million in the fourth quarter of fiscal 2026, or a 3% gain over the prior year. Gross margins remained stable at 27.8% despite a 3% increase in per ton domestic cost of goods sold, primarily driven by higher freight expenses. Geopolitical pressure on diesel prices and reduced capacity in the trucking industry contributed to this increase.
SG&A expenses were $17.7 million during the fourth quarter of fiscal year 2026 compared to $19.2 million in the prior year. This 8% decline largely resulted from reduced outside service expenses and lower human resource costs attributable to corporate functions.
Consolidated income from operations was $18.2 million in the fourth quarter of fiscal year 2026, or 17% greater than the same period in fiscal year 2025. Improved sales combined with lower SG&A expenses drove this notable increase.
Total other expense, net was $160,000 for the three months ended July 31, 2026, compared to $140,000 in the same period last year.
During the fourth quarter of fiscal 2026, income tax expense rose to $3.7 million from $2.4 million in the prior year period, driven by higher pre-tax income and one-time tax benefits in fiscal year 2025.
Consolidated net income for the fourth quarter of fiscal year 2026 was $14.4 million versus $13.1 million last year, representing a 10% improvement. EBITDA rose by 13% to $24.1 million, demonstrating continued strength in the Company’s underlying operating performance.
Product Group Review
The B2B Products Group delivered record fourth quarter sales of $50.1 million in fiscal year 2026, up 4% from the prior year, primarily reflecting favorable product mix and, to a lesser extent, increased volumes. The Company’s animal health and agricultural businesses achieved revenue gains, while fluids purification product sales remained relatively flat. Revenues of animal health products reached an all-time high of $9.9 million during the fourth quarter of fiscal year 2026, an increase of 18% over the same period last year. This topline growth was attributable to higher domestic and international volumes, including additional demand from current customers and new end-user accounts gained during the year. Sales of agricultural products were $12.6 million, an increase of 6% compared to last year, driven by elevated demand and order timing. Fluids purification product revenues totaled $27.6 million in the fourth quarter of fiscal year 2026, representing the strongest quarterly performance in the last 12 months and remaining relatively consistent with last year’s results.
SG&A costs within the B2B Products Group decreased by $220,000 in the fourth quarter of fiscal 2026, or 5%, compared to the same period last year. This change was primarily driven by lower bad debt expense and the absence of a foreign value-added tax (“VAT”) assessment recorded in the fourth quarter of fiscal 2025.
Operating income for the B2B Products Group was $17.0 million in the fourth quarter of fiscal year 2026 compared to $15.0 million in the prior year period, reflecting an increase of 13%. Higher net sales and lower SG&A expenses offset elevated cost of goods sold.
The R&W Products Group reported sales of $79.2 million in the fourth quarter of fiscal year 2026, up 3% from the prior year, reflecting improved product mix. These gains were driven by higher revenues from cat litter, and to a lesser extent, from industrial and sports products. Co-packaged cat litter sales grew by 60% year-over-year, supported by an expanded product portfolio that now includes lightweight litter. Domestic cat litter revenues, excluding co-packaged products, totaled $55.9 million for the fourth quarter of fiscal year 2026, down 3% from the prior year period. While crystal cat litter sales increased, revenues of clay litter products softened when compared to the prior year. Domestic clay sales were negatively impacted by the timing and frequency of promotional activity at a large account, changes in retailer pricing strategies and distribution, and ongoing heightened trade spending by competitors. These headwinds were partially offset by the successful introduction of new lightweight products at a key customer and continued growth of Oil‑Dri’s EPA‑approved Cat’s Pride Antibacterial Clumping Litter. Domestic industrial and sports product sales increased 7% to $12.1 million, primarily due to pricing actions to offset higher costs, including increased transportation expenses. The Company’s Canadian subsidiary reported record revenues for the fourth quarter of fiscal year 2026, up 3% from the prior year, reflecting growth across both cat litter and industrial products.
During the fourth quarter of fiscal 2026, SG&A expenses within the R&W Products Group decreased by $140,000 or 2%, from the prior year, primarily due to lower advertising spending.
Operating income for the R&W Products Group was $9.3 million in the fourth quarter of fiscal year 2026, or 5% less than the same period last year. The decline was mainly driven by significantly higher costs to transport cat litter products. These headwinds were partially offset by increased sales and lower SG&A expenses.
The Company will host its fourth quarter fiscal year 2026 earnings discussion virtually via a live webcast on Friday, October 9, 2026 at 10:00 a.m. Central Time. Participation details are available on the Company’s website’s Events page.
###
“Oil-Dri” and “Cat's Pride” are registered trademarks of Oil-Dri Corporation of America and its subsidiaries.
About Oil-Dri Corporation of America
Oil-Dri Corporation of America is a leading manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. Oil-Dri is vertically integrated which enables the Company to efficiently oversee every step of the process from research and development to supply chain to marketing and sales. With over 80 years of experience, the Company continues to fulfill its mission to Create Value from Sorbent Minerals.
Forward-Looking Statements
Certain statements in this press release may constitute forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are based on management’s current expectations, estimates, forecasts, assumptions and projections about future events, our future performance, the future of our business, our plans and strategies, projections, anticipated trends, the economy and other future developments and their potential effects on us. In addition, we, or others on our behalf, may make forward-looking statements in other press releases or written statements, or in our communications and discussions with investors and analysts in the normal course of business through meetings, webcasts, phone calls and conference calls. Forward-looking statements can be identified by words such as “expect,” “outlook,” “forecast,” “would,” “could,” “should,” “project,” “intend,” “plan,” “continue,” “believe,” “seek,” “estimate,” “anticipate,” “may,” “assume,” “potential,” “strive,” and variations of such words and similar references to future periods.
Such statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those anticipated, intended, expected, believed, estimated, projected, planned or otherwise expressed in any forward-looking statements, including, but not limited to, those described in our most recent Annual Report on Form 10-K and from time to time in our other filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except to the extent required by law, we do not have any intention or obligation to update publicly any forward-looking statements after the distribution of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.
Non-GAAP Financial Measures
To supplement our consolidated financial statements prepared in accordance with generally accepted accounting principles (“GAAP”), we provide certain non-GAAP financial measures in this press release as supplemental financial metrics. In particular, EBITDA is a non-GAAP financial measure provided herein. We provide a reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure below.
The non-GAAP financial measures we use may not be the same or calculated in the same manner as those used and calculated by other companies. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our financial results prepared and reported in accordance with GAAP. We believe that certain non-GAAP measures may be helpful to investors and others in understanding and evaluating our operating results, and we urge investors to review the reconciliation of non-GAAP financial measures to the comparable GAAP financial measures included in this release, and not to rely on any single financial measure to evaluate our business.
Contact:
Leslie A. Garber
Director of Investor Relations
Oil-Dri Corporation of America
(312) 321-1515
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||||||||
| (in thousands, except per share amounts) | |||||||||||||||||||||||
| Fourth Quarter Ended July 31, | |||||||||||||||||||||||
| 2026 | % of Sales | 2025 | % of Sales | ||||||||||||||||||||
| Net Sales | $ | 129,292 | 100.0 | % | $ | 125,212 | 100.0 | % | |||||||||||||||
| Cost of Goods Sold | (93,307) | (72.2) | % | (90,379) | (72.2) | % | |||||||||||||||||
| Gross Profit | 35,985 | 27.8 | % | 34,833 | 27.8 | % | |||||||||||||||||
| Selling, General and Administrative Expenses | (17,743) | (13.7) | % | (19,189) | (15.3) | % | |||||||||||||||||
| Operating Income | 18,242 | 14.1 | % | 15,644 | 12.5 | % | |||||||||||||||||
| Other Expense, Net | (158) | (0.1) | % | (143) | (0.1) | % | |||||||||||||||||
| Income Before Income Taxes | 18,084 | 14.0 | % | 15,501 | 12.4 | % | |||||||||||||||||
| Income Taxes Expense | (3,666) | (2.8) | % | (2,446) | (2.0) | % | |||||||||||||||||
| Net Income | 14,418 | 11.2 | % | 13,055 | 10.4 | % | |||||||||||||||||
| Earnings Per Share: Basic Common | $ | 1.07 | $ | 0.96 | |||||||||||||||||||
| Basic Class B | $ | 0.81 | $ | 0.72 | |||||||||||||||||||
| Diluted Common | $ | 1.00 | $ | 0.89 | |||||||||||||||||||
| Diluted Class B | $ | 0.81 | $ | 0.72 | |||||||||||||||||||
| Avg Shares Outstanding: Basic Common | 9,851 | 9,911 | |||||||||||||||||||||
| Basic Class B | 4,048 | 4,002 | |||||||||||||||||||||
| Diluted Common | 13,899 | 13,913 | |||||||||||||||||||||
| Diluted Class B | 4,048 | 4,002 | |||||||||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||||||||
| (in thousands, except per share amounts) | |||||||||||||||||||||||
| Twelve Months Ended July 31, | |||||||||||||||||||||||
| 2026 | % of Sales | 2025 | % of Sales | ||||||||||||||||||||
| Net Sales | $ | 493,844 | 100.0 | % | $ | 485,572 | 100.0 | % | |||||||||||||||
| Cost of Goods Sold | (356,334) | (72.2) | % | (342,489) | (70.5) | % | |||||||||||||||||
| Gross Profit | 137,510 | 27.8 | % | 143,083 | 29.5 | % | |||||||||||||||||
| Selling, General and Administrative Expenses | (69,528) | (14.1) | % | (74,863) | (15.4) | % | |||||||||||||||||
| Income from Operations | 67,982 | 13.8 | % | 68,220 | 14.0 | % | |||||||||||||||||
| Other Income (Expense), Net | 1,501 | 0.3 | % | (2,009) | (0.4) | % | |||||||||||||||||
| Income Before Income Taxes | 69,483 | 14.1 | % | 66,211 | 13.6 | % | |||||||||||||||||
| Income Taxes Expense | (12,514) | (2.5) | % | (12,215) | (2.5) | % | |||||||||||||||||
| Net Income | 56,969 | 11.5 | % | 53,996 | 11.1 | % | |||||||||||||||||
| Earnings Per Share: Basic Common | $ | 4.23 | $ | 3.99 | |||||||||||||||||||
| Basic Class B | $ | 3.18 | $ | 3.00 | |||||||||||||||||||
| Diluted Common | $ | 3.92 | $ | 3.70 | |||||||||||||||||||
| Diluted Class B | $ | 3.18 | $ | 3.00 | |||||||||||||||||||
| Avg Shares Outstanding: Basic Common | 9,876 | 9,889 | |||||||||||||||||||||
| Basic Class B | 4,038 | 3,994 | |||||||||||||||||||||
| Diluted Common | 13,914 | 13,883 | |||||||||||||||||||||
| Diluted Class B | 4,038 | 3,994 | |||||||||||||||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||||||||
| (in thousands, except per share amounts) | ||||||||||||||
| As of July 31, | As of July 31, | |||||||||||||
| 2026 | 2025 | |||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $ | 73,700 | $ | 50,458 | ||||||||||
| Accounts Receivable, Net | 75,438 | 69,370 | ||||||||||||
| Inventories, Net | 53,489 | 51,594 | ||||||||||||
| Prepaid Expenses and Other Current Assets | 6,020 | 5,961 | ||||||||||||
| Total Current Assets | 208,647 | 177,383 | ||||||||||||
| Property, Plant and Equipment, Net | 160,215 | 149,704 | ||||||||||||
| Other Assets | 59,924 | 65,137 | ||||||||||||
| Total Assets | $ | 428,786 | $ | 392,224 | ||||||||||
| Current Liabilities | ||||||||||||||
| Current Maturities of Notes Payable | $ | 1,000 | $ | 1,000 | ||||||||||
| Accounts Payable | 16,118 | 16,808 | ||||||||||||
| Dividends Payable | 3,017 | 2,444 | ||||||||||||
| Other Current Liabilities | 47,909 | 48,935 | ||||||||||||
| Total Current Liabilities | 68,044 | 69,187 | ||||||||||||
| Noncurrent Liabilities | ||||||||||||||
| Long-term debt | 37,857 | 38,817 | ||||||||||||
| Other Noncurrent Liabilities | 25,155 | 25,160 | ||||||||||||
| Total Noncurrent Liabilities | 63,012 | 63,977 | ||||||||||||
| Stockholders' Equity | 297,730 | 259,060 | ||||||||||||
| Total Liabilities and Stockholders' Equity | $ | 428,786 | $ | 392,224 | ||||||||||
| Book Value Per Share Outstanding | $ | 21.40 | $ | 18.66 | ||||||||||
Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements.
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||
| (in thousands) | |||||||||||
| For the Twelve Months Ended | |||||||||||
| July 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||
| Net Income | $ | 56,969 | $ | 53,996 | |||||||
| Adjustments to reconcile net income to net cash | |||||||||||
| provided by operating activities: | |||||||||||
| Depreciation and Amortization | 23,200 | 22,042 | |||||||||
| Increase in Accounts Receivable | (5,815) | (7,789) | |||||||||
| (Increase) Decrease in Inventories | (1,875) | 2,336 | |||||||||
| Decrease in Prepaid Expenses | 55 | 191 | |||||||||
| Increase in Accounts Payable | 6 | 926 | |||||||||
| (Decrease) Increase in Accrued Expenses | (104) | 2,384 | |||||||||
| Other | 7,670 | 6,097 | |||||||||
| Total Adjustments | 23,137 | 26,187 | |||||||||
| Net Cash Provided by Operating Activities | 80,106 | 80,183 | |||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||
| Capital Expenditures | (34,209) | (32,562) | |||||||||
| Other Investing Activities | 1,334 | 36 | |||||||||
| Net Cash Used in Investing Activities | (32,875) | (32,526) | |||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||
| Payments on Revolving Credit Facility | (1,000) | (11,000) | |||||||||
| Dividends Paid | (10,376) | (8,395) | |||||||||
| Purchases of Treasury Stock | (12,574) | (2,349) | |||||||||
| Net Cash Used In Financing Activities | (23,950) | (21,744) | |||||||||
| Effect of exchange rate changes on Cash and Cash Equivalents | (39) | 64 | |||||||||
| Net Increase in Cash and Cash Equivalents | 23,242 | 25,977 | |||||||||
| Cash, Cash Equivalents and Restricted Cash, Beginning of Period | 50,458 | 24,481 | |||||||||
| Cash, Cash Equivalents and Restricted Cash, End of Period | $ | 73,700 | $ | 50,458 | |||||||
Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements.
| RECONCILIATION OF NON-GAAP FINANCIAL MEASURES | |||||||||||||||||||||||
| (in thousands) | |||||||||||||||||||||||
| Fourth Quarter | Year to Date | ||||||||||||||||||||||
| Ended July 31, | Ended July 31, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| GAAP: Net Income | $ | 14,418 | $ | 13,055 | $ | 56,969 | $ | 53,996 | |||||||||||||||
| Depreciation and Amortization | $ | 6,014 | $ | 5,651 | $ | 23,200 | $ | 22,042 | |||||||||||||||
| Interest Expense | $ | 551 | $ | 546 | $ | 2,199 | $ | 2,434 | |||||||||||||||
| Interest Income | $ | (529) | $ | (340) | $ | (1,616) | $ | (698) | |||||||||||||||
| Income Tax Expense | $ | 3,666 | $ | 2,446 | $ | 12,514 | $ | 12,215 | |||||||||||||||
| EBITDA | $ | 24,120 | $ | 21,358 | $ | 93,266 | $ | 89,989 | |||||||||||||||
410 N. Michigan Ave. Chicago, Illinois 60611, U.S.A
News Announcement
For Immediate Release
Exhibit 99.2
Oil-Dri's Board of Directors Appoints Anthony W. Parker as an Executive Officer
and Declares Quarterly Dividends
CHICAGO—(October 7, 2026)—The Board of Directors of Oil-Dri Corporation of America (NYSE: ODC) today appointed Anthony W. Parker, Vice President, General Counsel & Secretary, as an executive officer of the Company.
Mr. Parker joined Oil-Dri in June 2018 as Assistant General Counsel. He was promoted to Vice President, Legal in November 2023 and, in December 2024, became Vice President, General Counsel & Secretary. In his current role, he oversees Oil-Dri’s legal and regulatory affairs and advises the Company and its Board of Directors on corporate governance, securities matters, business transactions, and strategic initiatives. Mr. Parker also serves as a board member of the Sorptive Minerals Institute.
Daniel S. Jaffee, President and Chief Executive Officer, stated, “Tony’s appointment recognizes the leadership, sound judgment, and strategic counsel he has provided across Oil-Dri. His extensive legal expertise and deep understanding of our business will continue to support disciplined decision making and the Company’s long-term growth.”
Oil-Dri’s Board also declared quarterly cash dividends of $0.225 per share of the Company’s Common Stock and $0.168 per share of the Company’s Class B Stock.
The cash dividends will be payable on November 20, 2026 to stockholders of record at the close of business on November 6, 2026. Oil-Dri has paid cash dividends continuously each year since 1974 and has increased dividends annually for twenty-three consecutive years.
The Company’s press release outlining its performance for the fourth quarter of fiscal year 2026 will be issued after the close of the U.S. stock market on Thursday, October 8, 2026. Oil-Dri will host an earnings discussion via a live webcast on Friday, October 9, 2026 at 10:00 a.m. Central Time. Participation details are posted on the Company’s website’s Events page.
About Oil-Dri Corporation of America
Oil-Dri Corporation of America (“Oil-Dri”) is a leading manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. Oil-Dri is vertically integrated which enables the Company to efficiently oversee every step of the process from research and development to supply chain to marketing and sales. With
over 80 years of experience, the Company continues to fulfill its mission to Create Value from Sorbent Minerals. To learn more about the Company, please visit oildri.com.
Forward-Looking Statements
Certain statements in this press release may constitute forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are based on management’s current expectations, estimates, forecasts, assumptions and projections about future events, our future performance, the future of our business, our plans and strategies, projections, anticipated trends, the economy and other future developments and their potential effects on us. In addition, we, or others on our behalf, may make forward-looking statements in other press releases or written statements, or in our communications and discussions with investors and analysts in the normal course of business through meetings, webcasts, phone calls and conference calls. Forward-looking statements can be identified by words such as “expect,” “outlook,” “forecast,” “would,” “could,” “should,” “project,” “intend,” “plan,” “continue,” “believe,” “seek,” “estimate,” “anticipate,” “may,” “assume,” “potential,” “strive,” and variations of such words and similar references to future periods.
Such statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those anticipated, intended, expected, believed, estimated, projected, planned or otherwise expressed in any forward-looking statements, including, but not limited to, those described in our most recent Annual Report on Form 10-K and from time to time in our other filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except to the extent required by law, we do not have any intention or obligation to update publicly any forward-looking statements after the distribution of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.
Contact:
Leslie A. Garber
Director of Investor Relations
Oil-Dri Corporation of America
(312) 321-1515