Oil-Dri Corp Q2 revenue rises 1% to record high, profit slips
Overview
U.S. sorbent products maker's fiscal Q2 revenue rose 1% yr/yr to record high
Net income for Q2 declined 3%
Severe winter storm disrupted operations, delaying shipments and shifting revenue to next quarter
Outlook
Company anticipates surpassing last yr's annual net income if current trends continue
Oil-Dri says revenues delayed by winter storm expected to shift into next reporting period
Result Drivers
WEATHER DISRUPTION - Severe winter storm delayed shipments and shifted revenue to next quarter, impacting Q2 results
PRODUCT MIX - Record net sales driven by higher agricultural and cat litter product sales
HIGHER COSTS - Gross margin declined due to a 4% increase in domestic cost of goods sold per ton
Company press release: ID:nGNX6yXdH3
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| $117.7 mln |
|
Q2 EPS |
| $0.87 |
|
Q2 Net Income |
| $12.6 mln |
|
Q2 Operating Income |
| $15.7 mln |
|
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