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410 N. Michigan Ave. Chicago, Illinois 60611, U.S.A

News Announcement
For Immediate Release
 
Exhibit 99.1
Oil-Dri Announces Third Quarter and First Nine-Months of Fiscal 2019 Results

CHICAGO-(June 7, 2019)-Oil-Dri Corporation of America (NYSE: ODC), producer and marketer of sorbent mineral products, today announced results for its third quarter and first nine-months of fiscal 2019.
 
Third Quarter
Year to Date
 
Ended April 30
Ended April 30
 
 
 
 
 
 
 
 
F19
F18
Change
F19
F18
Change
Consolidated Results
 
 
 
 
 
 
Net Sales
$70,885,000
$64,847,000
9%
$206,908,000
$200,387,000
3%
Net Income Attributable to Oil-Dri
$5,619,000
$3,585,000
57%
$8,812,000
$5,539,000
59%
Earnings per Diluted Share
$0.74
$0.48
54%
$1.17
$0.75
56%
Business to Business
 
 
 
 
 
 
Net Sales
$26,041,000
$24,784,000
5%
$77,825,000
$79,226,000
(2)%
Segment Operating Income
$7,454,000
$7,556,000
(1)%
$21,758,000
$26,191,000
(17)%
Retail and Wholesale
 
 
 
 
 
 
Net Sales
$44,844,000
$40,063,000
12%
$129,083,000
$121,161,000
7%
Segment Operating Income
$4,161,000
$2,223,000
87%
$6,823,000
$7,010,000
(3)%

Daniel S. Jaffee, President and CEO, stated, “Our third quarter results demonstrate progress in executing our long-term growth strategies. I am pleased with the strong revenue momentum in our Retail & Wholesale Group and the gains in our Business to Business Group. Although we continue to experience challenges caused by market conditions and increased costs, we remain focused on improving operational efficiencies and continue to lay the groundwork to capture the full value of our investments.

The Business to Business Group experienced an increase in sales of 5% in the third quarter over the prior year, led by a 13% gain of fluid purification products, mainly in our North American and Latin American markets. Other revenue increases were due to growth of engineered granules within the Agricultural sector, and coarse cat litter in the Co-Packaging division. Sales of our animal health and nutrition products declined 27% in the quarter versus the prior year. Our business in Asia, including our subsidiary in China, continues to be negatively impacted by the African Swine Fever.


 
Leslie A. Garber
Investor Relations Manager
Oil-Dri Corporation of America
InvestorRelations@oildri.com
(312) 321-1515


The following information was filed by Oildri Corp Of America (ODC) on Friday, June 7, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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