Oil-Dri Corporation of America reports Q4 ex-items EPS $1.69 vs. 77c last year

Reports Q4 revenue $107.39M vs. $93.16M last year. Daniel Jaffee, president and CEO, stated, “I am extremely pleased with our fourth quarter and fiscal year 2023 results as we set new records in consolidated net sales, gross profit, and net income for both periods. These achievements reflect the dedication of our teammates who worked diligently to rebuild profitability and service our loyal customers during a highly inflationary economic environment. During the fourth quarter, we delivered a 220-basis point gain in gross margins over the third quarter of fiscal 2023, as well as a 950-basis point increase over the fourth quarter last year. For the full fiscal year 2023, gross margins grew by a remarkable 710 basis points compared to fiscal 2022. While I am proud of our improvement, I am mindful of the fact that even though we grew our gross margins in fiscal 2023, there is still progress to be made to return to our historical gross margin levels.