Oil-Dri Corp of America Files Q3 2024 10-Q

TL;DR

OIL-DRI filed its Q3 10-Q. Check financials.

AI Summary

Oil-Dri Corp of America filed its 10-Q for the period ending April 30, 2024. The company reported financial results for the third quarter and the first nine months of its fiscal year. Specific financial figures and operational details are contained within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Oil-Dri Corp of America, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

• Oil-Dri Corp of America (company) — Filer of the 10-Q
• 20240430 (date) — End of the reporting period
• 20240606 (date) — Date of filing

FAQ

Key Financial Figures

• $0.10 — ich registered Common Stock, par value $0.10 per share ODC New York Stock Exchange

Filing Documents

• odc-20240430.htm (10-Q) — 1071KB
• odcex3104302024.htm (EX-31) — 21KB
• odcex3204302024.htm (EX-32) — 8KB
• odcex9504302024.htm (EX-95) — 44KB
• 0000074046-24-000043.txt ( ) — 6063KB
• odc-20240430.xsd (EX-101.SCH) — 35KB
• odc-20240430_cal.xml (EX-101.CAL) — 65KB
• odc-20240430_def.xml (EX-101.DEF) — 255KB
• odc-20240430_lab.xml (EX-101.LAB) — 447KB
• odc-20240430_pre.xml (EX-101.PRE) — 338KB
• odc-20240430_htm.xml (XML) — 868KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Page

: Financial Statements

Item 1: Financial Statements 3

: Management's Discussion and Analysis of Financial Condition and Results Of Operations

Item 2: Management's Discussion and Analysis of Financial Condition and Results Of Operations 25

: Controls and Procedures

Item 4: Controls and Procedures 31

– OTHER INFORMATION

PART II – OTHER INFORMATION

: Risk Factors

Item 1A: Risk Factors 32

: Unregistered Sales of Equity Securities and Use of Proceeds

Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 33

: Mine Safety Disclosures

Item 4: Mine Safety Disclosures 33

: Other Information

Item 5: Other Information 33

: Exhibits

Item 6: Exhibits 34

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Certain statements in this report, including, but not limited to, those under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations," and those statements elsewhere in this report and other documents that we file with the Securities and Exchange Commission ("SEC"), contain forward-looking statements, within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on current expectations, estimates, forecasts and projections about our future performance, our business, our beliefs and our management's assumptions. In addition, we, or others on our behalf, may make forward-looking statements in press releases or written statements, or in our communications and discussions with investors and analysts in the normal course of business through meetings, webcasts, phone calls and conference calls. Forward-looking statements can be identified by words such as "expect," "outlook," "forecast," "would," "could," "should," "project," "intend," "plan," "continue," "believe," "seek," "estimate," "anticipate," "may," "assume," "potential," "strive," and similar references to future periods. Such statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially, including, but not limited to, those described herein and in Item 1A, "Risk Factors," of our Annual Report on Form 10-K for the fiscal year ended July 31, 2023 and in Part II, Item 1A, "Risk Factors," of our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31 , 2024, and from time to time in our other filings with the SEC. Should one or more of these or other risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, intended, expected, believed, estimated, projected, planned or otherwise expressed in any forward-looking statement

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements OIL-DRI CORPORATION OF AMERICA Condensed Consolidated Balance Sheet (Unaudited) (in thousands, except for share and per share amounts) ASSETS April 30, 2024 July 31, 2023 Current Assets Cash and cash equivalents $ 46,821 $ 31,754 Accounts receivable, net of allowances of $ 1,094 and $ 1,087 at April 30, 2024 and July 31, 2023, respectively 60,003 59,287 Inventories, net 45,468 42,612 Prepaid expenses 6,554 2,854 Total Current Assets 158,846 136,507 Property, Plant and Equipment Cost 322,526 305,851 Less accumulated depreciation and amortization ( 194,580 ) ( 184,979 ) Total Property, Plant and Equipment, Net 127,946 120,872 Other Assets Goodwill 3,618 3,618 Intangible assets, net of accumulated amortization of $ 8,394 and $ 8,341 at April 30, 2024 and July 31, 2023, respectively 1,458 1,421 Deferred income taxes 7,117 7,201 Operating lease right-of-use assets 12,981 9,386 Other 7,186 7,230 Total Other Assets 32,360 28,856 Total Assets $ 319,152 $ 286,235 The accompanying notes are an integral part of the Condensed Consolidated Financial Statements. 3 OIL-DRI CORPORATION OF AMERICA Condensed Consolidated Balance Sheet (continued) (Unaudited) (in thousands, except for share and per share amounts) LIABILITIES & STOCKHOLDERS' EQUITY April 30, 2024 July 31, 2023 Current Liabilities Current maturities of notes payable $ 1,000 $ 1,000 Accounts payable 13,728 17,101 Dividends payable 1,958 1,927 Operating lease liabilities 2,819 1,872 Accrued expenses 32,413 36,868 Total Current Liabilities 51,918 58,768 Noncurrent Liabilities Notes payable, net of unamortized debt issuance costs of $ 140 and $ 173 at April 30, 2024 and July 31, 2023, respectively 40,860 30,827 Deferred compensation 5,508 4,512 Long-term operating lease liabilities 11,399 8,810 Other 6,518 6,242 Total Noncurrent Liabilities 64,285 50,391 Total Liabilities 116,203 109,159 Commitments and contingencies (See note 7) St

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