Oil-Dri of America(ODC) - 2025 Q1 - Quarterly Results

Financial Performance - Consolidated net sales for Q1 FY2025 reached a record $127.9 million, a 15% increase from$ 111.4 million in Q1 FY2024[6] - Operating income increased by 61% to $21.2 million, up from$ 13.2 million in the same period last year[8] - Net income rose to a record $16.4 million, reflecting a 52% improvement compared to$ 10.7 million in Q1 FY2024[10] - EBITDA for the quarter was $26.2 million, representing a 51% increase from$ 17.4 million in the prior year[5] - Gross profit reached $40.8 million, a 32% gain over the prior year, with gross margins expanding to 32% from 28%[6] - Net sales for the three months ended October 31, 2024, were$ 127,945,000, an increase from $111,438,000 for the same period in 2023, representing a growth of 14.8%[26] - Gross profit for the three months ended October 31, 2024, was$ 40,780,000, which is 31.9% of sales, compared to $30,991,000 or 27.8% of sales in the prior year[26] - Operating income increased to$ 21,190,000, representing 16.6% of sales, up from $13,156,000 or 11.8% of sales in the same quarter last year[26] - Net income for the three months ended October 31, 2024, was$ 16,376,000, or 12.8% of sales, compared to $10,742,000 or 9.6% of sales in the previous year[26] - Basic net income per share increased to$ 2.43, up from $1.61 in the same quarter of 2023[26] - EBITDA for the first quarter ended October 31, 2024, was$ 26,167,000, compared to $17,384,000 for the same period in 2023[30] Revenue Breakdown - The B2B Products Group generated revenues of$ 48.4 million, a 24% increase driven by higher volumes and sales from fluids purification[12] - The Retail and Wholesale Products Group achieved revenues of $79.5 million, a 10% increase, with 8% attributed to the acquisition of Ultra Pet[14] Expenses and Assets - SG&A expenses increased by 10% to$ 19.6 million, reflecting higher compensation costs and other operating segment costs[7] - Cash and cash equivalents totaled $12.5 million, down from$ 23.5 million at the end of FY2024, due to significant investments in manufacturing infrastructure[11] - Total current assets as of October 31, 2024, were $144,115,000, a slight decrease from$ 147,158,000 as of July 31, 2024[28] - Total liabilities decreased to $126,179,000 as of October 31, 2024, from$ 144,017,000 as of July 31, 2024[28] - Cash and cash equivalents decreased to $12,506,000 from$ 23,481,000 in the previous quarter[28] Future Outlook - The company expects to continue its growth trajectory, supported by strong performance in renewable diesel and crystal cat litter markets[5] - Book value per share outstanding increased to $32.43 from$ 30.69[27]