NYSE$ODC
Oil-Dri Corporation of America · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Oil-Dri reported record fourth quarter net income and EPS, despite a decrease in net sales.
Oil-Dri Corporation of America announced its fourth quarter results for fiscal year 2020, which included a record quarterly net income attributable to Oil-Dri of $5.886 million, despite an 8% decrease in consolidated net sales compared to the prior year. The increase in net income was largely driven by a one-time pre-tax gain of $13 million from an intellectual property license agreement. The company's Retail and Wholesale Group experienced a 9% decrease in revenues, while the Business to Business Group saw a 5% decrease. However, e-commerce business experienced double-digit sales growth.
- Net sales decreased by 8% compared to the previous year, totaling $64.844 million.
- Net income attributable to Oil-Dri increased by 55% to $5.886 million, a quarterly record.
- Earnings per common diluted share increased by 54% to $0.83.
- The company entered into a confidential license agreement in exchange for a one-time lump sum payment which helped the fourth quarter results.
Headline financials
Revenue & EPS history
Oil-Dri · Revenue · Quarterly
$64.8M
Revenue by segment
Oil-Dri · $64.8M total across 2 segments · Q4 2020
- Retail and Wholesale$38.2M-9.2%58.9%
- Business to Business$26.6M-5.1%41.1%
Forward guidance
Oil-Dri anticipates that advertising costs for fiscal year 2021 will be comparable to fiscal year 2020 and that the company is positioned for a successful and healthy fiscal year 2021.
Tailwinds
- Ongoing momentum in the combined net sales for the third and fourth quarters, reflecting a 7% increase over the same quarters in the prior year.
- Double-digit sales growth for the e-commerce business in the fourth quarter compared to the same period last year.
- Revenues from cat litter within the Canadian subsidiary demonstrated a 20% increase over the prior year.
- Expect advertising costs for the upcoming fiscal 2021 to be comparable to fiscal 2020.
- Company entered into an amended and restated note purchase and private shelf agreement, providing the ability to request additional financing in the future to grow the business, if needed.
Headwinds
- Consolidated net sales in the fourth quarter declined by 8% compared to last year.
- Weaker demand for products within all areas of the business, except for our animal health products, resulted in decrease in sales.
- Sales of agricultural products declined by 10% versus the prior year due to COVID-19 related demand delays.
- Sales of fluid purification products also declined this quarter by 6% compared to the fourth quarter in the prior year.
- Industrial and sports products were negatively impacted by COVID-19.
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 Q4 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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