Recent ODC transcripts
Associated ODC filings
Leslie Garber | executive |
Laura Scheland | executive |
Daniel Jaffee | executive |
Susan Kreh | executive |
Aaron Christiansen | executive |
Christopher Lamson | executive |
Bruce Patsey | executive |
Wade Robey | executive |
Good morning and welcome to Oil-Dri Corporation of America's 2023 Annual Meeting of Stockholders. My name is Leslie Garber and I am the Director of Investor Relations at Oil Dri. We're conducting this meeting virtually, a format which enables greater stockholder attendance and participation, improved efficiency, and increases our ability to communicate with stockholders and reduces costs. On your screen under meeting materials, you will find the meeting agenda, rules of contact, list of stockholders of record, and Oil-Dri's proxy statement and annual report.During the meeting today, we will be covering the election of directors and 4 other proposals.
Next will be the business presentations and financial review followed by time for Q&A. submit on online your you a the that field Question screen. ask your under questions Ask We Only stockholders of during the record are able to meeting. ask questions clicking the on Products Stockholders Vote Laura my the Scheland, also be Consumer Legal to Division. and introduce online will Officer General Chief and of able pleasure to Here President screen.Now your by button our it Vice is vote the Manager today's of She will formal conduct meeting. portion a
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helps is government's to actually a The significant. the Just X for of produced. companies which industry, be in that's money in build an for amount going going gas. to these COX $X credit to plants key. this very the every I that non-aviation gallon XXXX, facilities.So really of there's mean, tax fuel are approximately these behind of January example, Reduction
XX% the So to is marketplace. you greenhouse up drop into when gas reduced this in emissions fuel
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this can of help the and on improve improvement amount oil. We talked profitability our core of bring the are were and most the and been profits Aaron competitively the are market, that the order with process is of clay and business, improve their in demand plants.And then we to same cars sales how me their in years plant general we with in reduce of where know the infrastructure We increase a of we I've this market positive movement then lot manager milling. refineries. really for back our business them then our economics and the of our about people manufacturing; experience this So capacity maximize got today and value there to that XX out to people still of meet XXXX, of sales for these team, can have the car rail for at rail for consumption sell that
think of bright that, Wade and Agricultural beyond.With to and going So the fiscal International. it forward I who is very we I'm the of our current Division is to to Amlan turn future rest for Robey, business the of the really President our look President 'XX Vice and over
take it away. Wade, So
go the Oil-Dri you privilege morning, Business to to we my to everyone. and Health the Animal start overview It's around Yes, of everyone you, this going market everyone help with business. portfolio America.I'm Nutrition to Bruce, Corporation is world. this understand our level just thank morning how and set of Amlan an our morning to talk about good Amlan International of and
so couple segments items improve look a but unique we graph, a animals and them America. ago, products products are North and production.When sell I'll market internationally, designed branded bit an to help that in to of opportunity productivity years help set differently, that target to of potential, launched we you number their We them these different this in a just the of which market. reach have little really specific the subsequent we and show on a we have with differently we the very We economics address of brand market, of promote organize we them our the differently, a of
they program product Phylox So discuss a launched, or under sector, or prevention a will we even a or disease is NeutraPath synergistically natural Phylox have a Fusion, or anticoccidial be that in we which chemicals product other either new work couple also our in can whether with have called we product of spotlight.And a bit anticoccidial a called that bio products little later product vaccines. individually antibiotics shuttle a anticoccidials,
serve but outbreaks animals. normal our with feed the annual for this ability to XXXX, in XX% general and nice started from XX% have United Calibrin as was not lastly, you products then return States. spite is year in pandemic, persistent, significant sharp we saw pandemic our of we of through have the business the Amlan the That's growth that interruptions productivity the years Coming and seen to the of avian swine obviously fiscal and world or compounded to and of moving then X with only and at ending which African last in pandemic, logistics markets, year our we the a the last in the and of still look we growth also more year-over-year, our fever Calibrin influenza, pretty around Z with varium end the rate especially business efficiency over disease in out XXXX, saw the very at July.Now performance in products, also just XX.X%. and A.As We control, Cadillac that neoprime biotoxin products target growth
this very of a We that launched the the into through that the at So to we have American as bottom on growth expect seen that can North we portfolio into x-axis. XXXX. we chart, sorbent accelerate nice started future.You listed period, and see
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very in growth and launch America the rapid the of American market. North of mention my again see a North You
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Our Mexico grew business well.
China, to completely in a saw run final in the which producers acquisition our of is Agromex, downturn. the completed also strong sell Mexican growth by operation. very We XXXX Amlan going direct there.In Oil-Dri is continue at That same time to and key business we now we forward expect as Mexico we
market due of was conditions. to Some that
a market of did of previously had distribution large to large Some a a partners. business. with restructuring gone staff, pretty China very very of we significant We suite that due in was with to China direct the
narrowed have We that now significantly.
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products by natural harsh seeing clean fit food pharmaceuticals nicely food cases. them without without to within Amlan's global products naturally natural do It naturally, the we're produced desire the our and use of a really is without business? It that or in are that more but way. offer see that really allows efficacies consumers in we move is grow of pharmaceuticals, we more use bring call the consumers mineral sustainably in producers chemicals. in to what products?Why interested will why Amlan customers a our are Oil-Dri's the based a growth So many of of demand.Our broad that very animals sources very on to range use
in look in place avian it mentioned, the enormously fever, product are of right large we of time.When the conditions pandemic, the overall you in at the at opportunity right the right market. So spite the influenza, spite of market I or African swine the as is an
the represents You XXXX can left growing dominate, are and the in both market, aquaculture, and see as and finfish that markets rapidly. pets, the ruminant swine significant the graph on XXXX. crustaceans, well also broiler graph the The curve from but to markets
and expect swine about annually, target directly grow X.X% of towards we look as expect is we to pet, toxin the very markets to we and we market forward, control. As look aqua, the we in XXXX.One lead
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look you of side companion side for our then followed quality this ensures So Broilers and swine, the out. by layers aqua, producers.As the need have ruminants, see the milk, animals. segment at is market that toxin control meat poultry laid largest chart, how urgent and highest you is mycotoxins eggs it of the is of kind can the and for and control the customers right to we
animals companion on or to significantly adsorption a -- mineral to Our based the will our it grow technology absorption of growth really in the future expect science and clay be We sorption Amlan.How work? substrate. for toxins do we opportunity is
in fields our side You that mineral, binding area chart for of kilogram the XX intestines the this of can processed only see left of surface has of on soccer once Amlan the animal. X
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we a protectant that So called potential.Here's the product reach for it's to NeutraPath. animal new last their spotlight a a highly year. product of them product effective allows launched a natural this It's just
pathogenic additional our formulation, if that in but promoting we're based NeutraPath, antibiotics natural their organisms pathogens also product in they to the or international mineral, could but it's and resistance producers say, We also use a field. States, like help I salmonella, it like grown clostridium.It's directly a product, don't similar the they the neutralize when in a compounds adjuvants in want have can substitute use like United product to on includes clay that product has or campylobacter, can portfolio our address when
not uniqueness the product our Oil-Dri, business? believe believe about customers? very we about significant of It's source we in Why why global will a mine it the process efficacy our it but NeutraPath. rations.We're we for are It's we're mineral. it So overall, in will and win We or excited selectivity. utility with field that broadens We product our the do those also control only portfolio for way products proprietary way, a forward.So this going excited of delivery the be integrated. really mining in of the in service and customers vertically in to a support a team. its animal technical to the the it our We
to the quality, consistency, the ROI So value, portfolio. we're business the the ensure our diverse customers.And able for lastly, our
experience We have of mineral XX years science. in
Chris and of in a variety sell we earlier, industries. Bruce mentioned As
what from brings a the of tremendous a utility product value have market. we is lot to that So natural
the us We had of for to those plan, the which allows over term. have long invest years, also we and really company stability have our XX develop, the leadership to
come excited thank the and this about our Garber, Investor Leslie business excited that to back for will Relations. we're So your in it growth sector.So that, and Director attention and I'll hand the nutrition about animal health of with you
submit growth revenue be Amlan's when to must Great. questions. for meeting. or relevant will asks, the that pertinent I our remarks now first your Thank the will a happen? question what webcast. ], an from all the presentation. are the using Questions questions It to might up I Ethan the to and before on listening prospects field question. and Wade. meeting to Please floor open investor, now Thanks, for Stark individual for comes you Ask [ the significant read matters the and brought products, he the
already we a markets There have question, the only been argue it's in North growth I like Thank year for now. business. really are would a in tremendous that are and Ethan. that about America seeing happening. half I and We're this appreciate you,
very significant we continually as a Asia performance are in rapidly continue CAGR highest to rebound America those and grow strong seeing in So of to expect recover business.We the obviously now again our North and economies at of also pretty LATAM. any
So use the business last to of the and this within species couple year of over continued we what products next be strong we growth reflective expect seen of with by have our industries. years these in all
you. Thank
fiscal plan you at Our increase spending your next and a you and was in Is question Wealth advertising focus asks, primary he quarter and in comes XXXX? as comparable on Ascend of Chris? or from rate primarily consumer from what John lines 'XX are to Advisors, Bair product on? seen retail BXB, do first focusing
as through in for within prior QX we marketing their this John. QX. of platforms global that think scale as was some of you'll to hadn't That's against saw, of that kind we the of new of We really that a this but good spending spending thanks, in Thanks, a in look predictive we the consumer what supply is came pretty advertising the platforms really sales were see ROIs BXB it's going malaise. good Leslie, past.We see that that level spoken to a our a some The of doesn't spending business QX we spent and as little been strong not playing We were of you reasons. heavy forward we well, you say I that at and and catch-up. year majority like. heavily majority kind the pretty Primarily, against to just a couple bit consumer business. started the goes and in out the have
he productivity? growth, Great, this a The the how Investing, in for Robert new long-term from Smith thank you do you. future this Also, its you level? your respect, comes is the next area of plan reflect asks, question do lifeblood since from and to increase Performance in earnings measure commensurate R&D Center
question, our our and yes, of lifeblood for Bob, growth. mean, you, your is and present and R&D I our past Thank the future
real So playing minerals and from don't value likewise commitment long-time to minerals, our things value on and the we to and sorbent where our decisions which creating investors have the we're margins, there which could you of and measure another for customer, provide into we deriving version which customers term.So top mission know, as us customers and then what we advantage on do walking trying we of call through frankly the through ], where where value is we're is is could ultimately data do better [ who is then layered is Moneyball, there our to the statement, mineyball getting from just a hang a only it is fact-based way the low lean how that be value those to the to competitive most healthy trying on and supplier make selling. and away from that do isn't serve the somewhere long that
This million million. Back year million $XXX worth out was sold, that we our gross but grew not million to full so so $XX in ton, this profit very about a talk before, just really had tons and we $XX only ton, a when me well, XXXX average the but $XXX doing generated $XXX was startling over of company XXXX we heard selling repeating. sales, it's maxed well last our a with you've price was fiscal $XXX in million and in we gross from profit. So
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performance, that value. are with it. and very delivering of and creating we that mean, to every we customers clearly day, pricing, towards a all to customers the appreciative are we different contribute we're but and ways X,XXX we much to that, service we believe, close know achieve our that that's Yes, value. there's through also we So measure are and value teammates provide.So I it's our many It products, is helping globally how too. very believe
take for very, this we thanks great a So and question seriously. very
question China. sales sale of How is Amlan from line Okay, sell the the next in Wade? He Bair. master and to John distributor says down affect this they International's top the distributor the as near-term current does was growth projected to inventory? inventory attributed existing this to company's inquired master
the This ownership for in be China able in a the China that the this establishment thank Yes, specifically Amlan sale move part that Obviously, the big in and that product with Yes, us master Leslie, thank our of and activity distributor. happened you, restructuring to important from for market. business, was to of of to John. you, an to conclude was distributor
the imagine, a that master in also our customers had distributor, products mix to selling the fairly the low already our those there, market.And our products down need had of is so is the to and are largest As that that maintained, currently, warehouses we of key inventory.So you especially that products, we're expectations. in some seeing were also might service dairy ordering products that while replenishing that, exceeding we significantly of they some we what of some sector, grow in various customers
orders that to early be replace transfer all and expect the volume that to we this we're fairly consumed year, So in seeing year, already of inventory.
mention those Thank Are X present? quarter able there you. was from you [ new Stark about Ethan at Amlan The of to next products. tell question is ]. Last more us
the thank we in both Ethan, trials fairly about Those industry. you, sale cycle long this as talked this are and in products sessions, can were year. launched They be in past X currently. Yes, have other
utilizing world. conclude sometime in largest year natural to actually one trial the about one integrators I'll the is to X product. run a sell That internationally They're of product, the basically mention field for is full it direct the for with as a the trials The We now spring. trial It's in months which been first Phylox going well. performing we hope in anticoccidial.
the right product while entering is that's a cycle.The United sometimes it a NeutraPath, bit a Amsure. in little long happened, sale now. than trials in lengthier called product of product similar That So second sell States indicative we is
and little the to we sales the We of to sometime that shorter springtime Integrators. largest expect some bit in that, product with cycle a have of U.S. hope
shortly. are about excited field those That trials through we So on products, of them. but working still conclude will both
Thank Okay. you.
outlook the the We have on an another question M&A Bair. of from Any company's comments on John pursuit landscape?
foremost, Thanks, margins, look, directors, board major use as we John, question, for plants, which then the to it's and repair people, and how cash, our and our investing your we in capital our processes. and is we cash? to management in is a in and continue are allocation going that our generating for the team are great, First of focus
ago puts and in our As will it have acceptable from we're and curve. X pressure more customers not value quality value, delivering that of be processes.So demanding more a stay our standpoint was as on ahead what years are to we years, more acceptable X
is is a our Obviously number the our in maintaining reinvesting major growing one. and plants clearly and people dividend capital. use So our of
shareholders, will and that forth, family dividend picnics so, and invited dividend the want joke, row.And we but years have always not have get do is be a finally so like it's keeping equation, will time very our totally that and from sisters, opportunistic our We somewhat so if there one feel to proud anything you seriously, any right to all our and growing and that the I into up.Stock my that, in and is authorization and and I semiconductors as we and raised that cash use us XX then sisters to narrowly seeing of an and activity, of soon. be facetiously, that value a record for my of certainly could to to keep not piece on buybacks the and be me healthy is or very important minerals.So when sorbent like be creating M&A focused mission,
come within up have mission, that when we be we very aggressive, been. So opportunities will and
we We deals just growth years, make made have have the strategy, to and going to them numerous they be not and fortunately it's make like come needed continue acquisitions if our will we're as cash.So forward definitely yes, vet a a but part to lot we M&A debt capacity over of and will generating it are of deals.
not will They be opportunistic different tangential they we into not we're jumps So will and very familiar that will be be with. bolt-ons. areas
do One He the seen more will X confidence quarter Bruce, from Okay. 'XX? throughout in BXB 'XX John that sales or fiscal that? want continue Bair. of you asks, trend can to gives fiscal you take what
Sure. John, you good for Thank question. question. the very
feed and type are these them about different different one lot and soybeans they're Vegetable talked the of crop vegetable oils. is big I oil being to plants they business, a renewable feedstock into a for to that soybeans and diesel growth this the in large, of of is and a very produce produce oils that pulling animals. As from they protein industry of feed continue industry.As the different sold applications to to general oil feeding of grow just going oil lot the gets
relate businesses businesses be our going through based growth now BXB and that with our this and of all business. in to growth fiscal So and ag industry, it's this in there's what's this growth to on the continued of beyond going on the happening all that's marketplace, clear right the year
increases articles, Great. I'm Thank to ability down, compete. on relates reading conclude, while up CPI the of is still recent Most general is it and Fed you, it the is wants and for as are pass it's down on continue slowing that our will along incur over making getting sure focused of them the is X%. so we that to They're less, X%, to it slope and so north for the toning economy be. inflation, to it comments while we always have diligent be just and control. a was Bruce, where outside here.And little targeting before well we still cost we and and our to how the
things the of impair that outside We and well service efficiency, are that plenty are are that our the doing but and quality give deserve. there to they demand very value and customers that our ability with own would they our of the our control
and of been happy mindful wrong, very front. I recession. that be would we just how goes I forward. on that.And So it see I that a am predicted don't will wrong to glad one but have going I'm see I have would
much. you very So thank
fiscal I the team. to year this will turns 'XX say our statement off to best and fiscal is I out crossed, be see, I'm together of fiscal is even what a great and keep strategy and strategy the hope was can literally supportive but a we're and to a start just fingers confident you better As X,XXX a than and us isn't it is all fiscal ever, while in 'XX.Let's forward-looking 'XX happen everyone fiscal 'XX pulling hope very of our make
after for we will you and as quarter. thank you second a So your shareholder, forward look loyal to to support the talking again
you day. now meeting Thank concluded. has have pleasant for a The joining and
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