Zacks Initiates Coverage of Oil-Dri With Neutral Recommendation

ODC's heavy reliance on Walmart for a substantial portion of its sales introduces revenue volatility risks. For fiscal 2023, Walmart accounted for approximately 19% of the total net sales. Any significant changes in Walmart's purchasing patterns could adversely impact Oil-Dri's financial performance. Sales in the agricultural and animal health product segments fell 24% and 17% year over year, respectively, in the third quarter of fiscal 2024. These declines were attributed to reduced demand and inventory ad ...