NYSE$ODC
Oil-Dri Corporation of America · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Oil-Dri's Q3 2020 results were announced, marked by record net sales and increased operating income, driven by high demand for cat litter and resilient business-to-business operations.
Oil-Dri Corporation of America reported record net sales of $76.3 million for the third quarter of fiscal 2020, an 8% increase compared to the same period last year. This growth was primarily driven by high demand for cat litter due to the COVID-19 pandemic and strong performance in the Business to Business Group. Consolidated operating income increased by 145% to $5.7 million, while diluted earnings per share were $0.61.
- Record quarterly consolidated net sales reached $76.3 million, an 8% increase year-over-year.
- Consolidated gross margins improved to 28% due to lower freight and natural gas costs.
- Operating income grew by 145% to $5.7 million, driven by increased sales and lower costs.
- Retail and Wholesale Products Group experienced record sales, with a 20% increase in domestic cat litter revenues due to COVID-19 related demand.
Headline financials
Revenue & EPS history
Oil-Dri · Revenue · Quarterly
$76.3M
Revenue by segment
Oil-Dri · $76.3M total across 2 segments · Q3 2020
- Retail and Wholesale$49.6M+10.5%65.0%
- Business to Business$26.7M+2.5%35.0%
Forward guidance
The company did not provide specific forward guidance, but expects advertising costs for the full fiscal year to be higher than last year.
Tailwinds
- Company is adapting to the evolving situation and working hard to keep business running to meet the changing needs of customers.
- Manufacturing facilities remained open, and the company continues to operate to keep pace with demand.
- The company achieved record quarterly consolidated net sales.
- Business to Business Group’s diversified product portfolio proved to be resilient.
- Consolidated gross margins rose due to lower freight and natural gas costs.
Headwinds
- Sales to pork producers within China remained soft as a result of the continued spread of the African swine fever within some areas of the country.
- Revenues from fluid purification products declined due to lower demand from edible oil producers due to worldwide COVID-19 closures of restaurants and schools.
- Local pricing competition in foreign markets caused by unfavorable exchange rates and the closure of a domestic biodiesel processing plant also contributed to the decline in revenues from fluid purification products.
- Decreased demand of industrial and sports products due to COVID-19 offset some of the sales gains within the Retail and Wholesale Products Group.
- Higher incentive bonus accruals and other compensation and benefits costs accounted for the increase in SG&A expenses over the prior year.
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 Q3 2020
+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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