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Oil-Dri Q1 results impacted due to high costs; shares down ~5%

Published 12/10/2018, 10:50 AM
Updated 12/10/2018, 10:50 AM
© Reuters.  Oil-Dri Q1 results impacted due to high costs; shares down ~5%
  • Oil-Dri (ODC -5.2%) says that the company faced a challenging Q1 quarter, and experienced higher freight, packaging and non-fuel manufacturing costs; expects majority of the increase to continue for the remainder of the year.
  • Net income was negatively impacted by higher advertising costs for Cat’s Pride litter products and B2B products mix.
  • Net sales declines 1% to $66.1M primarily led by lower B2B sales, partially offset by increased retail & wholesale sales.
  • Sales by segment: Retail & Wholesale: $25.3M (NYSE:MMM) (-7%); B2B: $40.8M (+3%)
  • Gross margin declines ~430bps to 24.2%; operating margin compresses 480bps to 1.5%
  • Previously: Oil Dri reports Q1 results (Dec. 7)
  • Now read: Technical Communications reports Q4 results


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