NYSE$ODC
Oil-Dri Corporation of America · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Oil-Dri reported record quarterly net sales for Q1 2022, but profitability was impacted by rising costs.
Oil-Dri Corporation of America announced record high quarterly consolidated net sales of $82.46 million for the first quarter of fiscal year 2022, an 8% increase over the prior year. However, net income attributable to Oil-Dri decreased significantly to $585,000 compared to $3.984 million in the same quarter last year, due to increased cost pressures exceeding price increases.
- Consolidated net sales reached a record quarterly high of $82.46 million, an 8% increase year-over-year.
- Net income attributable to Oil-Dri decreased by 85% to $585,000 due to higher cost of goods sold.
- Gross profit decreased by approximately $5 million, or 26%, with margins reduced to 17% from 25% in the prior year.
- The company experienced a surge in unanticipated demand, leading to a backlog of some orders, which they are addressing by expanding production shifts and adding equipment.
Headline financials
Revenue & EPS history
Oil-Dri · Revenue · Quarterly
$82.5M
Revenue by segment
Oil-Dri · $82.5M total across 2 segments · Q1 2022
- Retail and Wholesale$53.5M+10.2%64.9%
- Business to Business$28.9M+5.1%35.1%
Forward guidance
Oil-Dri is implementing pricing strategies, cost savings measures, and operational enhancements to improve profitability and drive the business forward. The company anticipates adjustments to advertising spending for the remainder of the year due to any upcoming volatility in the economic environment.
Tailwinds
- Additional price increases will be executed in the second quarter to offset higher costs.
- Production shifts have been expanded and equipment added to resolve capacity constraints.
- E-commerce business experienced substantial double-digit revenue gains.
- Domestic industrial and sports business achieved topline growth due to the return of pre-pandemic purchasing levels and the reopening of sports fields.
- Financing options are available to provide additional cash for operations and strategic capital investments.
Headwinds
- Cost pressures continued to exceed price increases.
- Supply chain continued to be challenged by the nationwide labor shortage, a tight trucking market, and delays from ocean freight carriers.
- Extreme inflation impacted many key cost inputs, including resin, natural gas, and freight.
- Sales of agricultural and animal health products declined in the first quarter compared to last year.
- Advertising costs decreased in the first quarter to help offset inflationary headwinds.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2022
+1.0%
Avg return
Earnings day
+2.3%
Avg return
5 days after
+4.2%
Avg return
30 days after
58%
32 / 55 earnings
Positive
+19.9%
Q3 2023
Best reaction
-17.1%
Q4 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +18.4% | +13.7% | — | |
| Q2 2026 | +3.7% | -5.1% | +12.2% | |
| Q1 2026 | -12.7% | -4.4% | -3.9% | |
| Q4 2025 | +8.0% | -0.5% | -6.5% | |
| Q3 2025 | +0.0% | +1.5% | +5.8% | |
| Q2 2025 | +9.0% | +6.9% | -5.0% | |
| Q1 2025 | +18.4% | +28.0% | +24.2% | |
| Q4 2024 | +5.9% | +4.8% | +12.5% | |
| Q3 2024 | -15.7% | -13.8% | -26.7% | |
| Q2 2024 | -1.1% | -0.0% | -1.2% | |
| Q1 2024 | +9.6% | +16.7% | +13.4% | |
| Q4 2023 | -9.8% | -6.9% | -8.5% | |
| Q3 2023 | +19.9% | +27.6% | +60.2% | |
| Q2 2023 | +5.3% | +4.4% | +7.4% | |
| Q1 2023 | +5.0% | +3.1% | +5.9% | |
| Q4 2022 | +13.1% | +18.0% | +35.5% | |
| Q3 2022 | +2.6% | +8.6% | +22.3% | |
| Q2 2022 | -2.6% | +4.1% | -2.0% | |
| Q1 2022 | +1.8% | -1.0% | +4.6% | |
| Q4 2021 | +0.5% | +0.4% | +0.3% | |
| Q3 2021 | -4.8% | -6.2% | -8.3% | |
| Q2 2021 | +0.2% | -1.1% | -7.5% | |
| Q1 2021 | +1.0% | +4.3% | +0.8% | |
| Q4 2020 | -5.0% | -2.2% | -11.3% | |
| Q3 2020 | -4.2% | -8.6% | -8.1% | |
| Q2 2020 | +1.1% | -0.6% | +2.0% | |
| Q1 2020 | +1.1% | +5.5% | -0.1% | |
| Q4 2019 | +2.5% | +1.8% | +13.4% | |
| Q3 2019 | +3.8% | -1.0% | +19.5% | |
| Q2 2019 | -0.3% | +10.4% | +16.7% | |
| Q1 2019 | -4.3% | -5.0% | -3.1% | |
| Q4 2018 | -0.9% | -12.9% | -5.1% | |
| Q3 2018 | -3.1% | -7.1% | -1.9% | |
| Q2 2018 | +0.3% | +4.5% | +9.3% | |
| Q1 2018 | +0.6% | +0.7% | -7.5% | |
| Q4 2017 | -17.1% | -17.4% | -16.5% | |
| Q3 2017 | +6.9% | +13.1% | +20.1% | |
| Q2 2017 | +1.4% | +6.6% | +7.8% | |
| Q1 2017 | +2.3% | -0.6% | -8.4% | |
| Q4 2016 | -1.3% | +1.1% | -2.7% | |
| Q3 2016 | +1.2% | +4.8% | +7.2% | |
| Q2 2016 | -9.9% | — | — | |
| Q1 2015 | +8.3% | — | — | |
| Q3 2015 | -3.4% | — | — | |
| Q2 2014 | +1.4% | — | — | |
| Q4 2012 | -1.5% | — | — | |
| Q2 2012 | +2.3% | — | — | |
| Q1 2012 | -1.9% | — | — | |
| Q4 2011 | +4.1% | — | — | |
| Q3 2011 | +0.6% | — | — | |
| Q2 2011 | -3.1% | — | — | |
| Q1 2010 | -2.8% | — | — | |
| Q4 2010 | -2.6% | — | — | |
| Q3 2010 | -0.4% | — | — | |
| Q2 2009 | +1.8% | — | — |
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