Oil-Dri Corporation of America (ODC) 11 Dec 242025 Q1 Earnings call transcript

Good morning, and welcome to Oil-Dri Corporation of America's 2024 Annual Meeting of Stockholders. My name is Leslie Garber, and I'm the Director of Investor Relations at Oil-Dri. Similar to last year, we are conducting this meeting virtually via live webcast, a format which enables you as stockholders to attend and participate fully and equally, improves efficiency and increases our ability to communicate effectively and engage with our stockholders and overall reduces costs. On your screen under meeting materials, you will find the meeting agenda, rules of conduct, the list of stockholders of record, Oil-Dri's proxy materials and annual report.

During the meeting today, we will be covering the election of directors and 2 other proposals, followed by business presentations and a financial review and lastly, 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 button Stockholders the also be to online will able "Vote your on by here" screen. vote on

introduce Now W. Vice Secretary. will Parker, and portion formal Anthony conduct it Counsel pleasure the General of our my He is to President, today's meeting.

taken the meeting. Commencing Stockholders by business the October the record to of XX, date this at gentlemen. determination copy foregoing. Kratz XXXX, present I of Solutions, LLC the an on oath materials of stockholders affidavit as notice and to October the Board of XX, of forth for and Meeting a stockholders on of order XXXX, serve conduct the for Hagberg Oil-Dri of as the and Oil-Dri entitled a of of now office. Richard record which to Election mailed to XXXX notice webcast America or has of was all meeting. formal to and notice availability of call ladies regarding the the the of Corporation close morning, Inc. materials has Broadridge proxy of set of Inspector He proxy Good vote in business statement. has on Directors this is Associates delivered is confirming the appointed fixed proxy Financial of the to Oil-Dri Oil-Dri's Annual meeting

shares the will A our meeting voting of as to incorporation. our Thus, share X of of are stock, to present are Class stock general Holders stock separately per of to at and a constitute entitled a meeting, and me amendment of quorum for I for in of common Therefore, required number declare share proposal represented quorum common of outstanding in as holders informed this business. class authorized approval shares addition there meeting. the B to present to Oil-Dri's this necessary number or is votes. Oil-Dri's #X, without our proxy. this of per October by vote the vote holders of were votes a of generally B record to with X,XXX,XXX common certificate shares more the XX, of regard and of Oil-Dri's entitled common such by are of is votes date this are an our quorum certificate increase in a Holders Mr. stock to this the if As the of of X,XXX,XXX Class Kretz stock capital outstanding. there meeting exception stock the purposes at present XXXX, together the majority person class of at incorporation XX,XXX,XXX vote XX practice. of than number has votes stock that represented transacting which

after any in review of any and to through If Now Question proposals Ask be would portal, been like we upon, please regarding the a comment make any your in all themselves I of described to stockholder proxy the web the the present the is which statement. matters will will comments each comment presented. field the proposals proposals, submit have on voted a

Lawrence H. listed Michael M. Those Nemeroff, the Schmeda, Patricia Ellen-Blair whom company. the is Hindsley, Selig, a director currently The Oil-Dri's J. Chube, directors. of each as for of L. are business Daniel serves election Washow. statement of E. C. item first Rofe, Amy A. X George Paul director, S. Ryan, nominees The nominees and proxy Allan Jaffe, of

of The appointment ratification Oil-Dri's year auditor the July independent for the is Directors XX, of business XXXX. Board of item the ending Grant fiscal Committee as second of The the Thornton of Audit the Grant of directed has submitted this the that ratification to Oil-Dri appointment the as by has independent be at Thornton for for year auditor appointed and XXXX stockholders company's serve meeting. fiscal

by B a of submitted. our XX on incorporation of vote of of button in proxies our common your XX on the check Stockholders this want have split take stock increase been any proposals shares in clicking here" comments any on number who form who to will The stock who "Vote have further received, hasn't on open. not and third to to of a.m. authorized December the an comments is to change is of from or It polls. approval a yet XX, their like so we item business Class no proceed the common do in the of stock Internet screen. It million of we At that may via a opening stock telephone are stock do voted the change and do who or time, amendment have or million vote certificate so voted action. the their implement X-for-X with XXXX, X:XX to polls now to been for will the stockholder dividend. to looks review order sent Any need and not wishes

by preliminary actual performance. employees teammates While XX, commentary uncertainties the in Any by of We now of of differ company are the materially. one a any risks, any our At as review we that I evaluating refer done carefully haven't for Inspector contain All who allow may the year statements highlight consider results polls or assumptions XXXX. pause voting affect of for such and you that the finish number risk cause to important last report could voting. future comments We and SEC provided and the in forward-looking July expected may this in complete of of including available statements those right time our performance closed, Election. risk to are filings subject results certain today business filings, and our through factors their Copies we voting. annual to other ended to future you factors online. that like already forward-looking to and the Oil-Dri evaluating Oil-Dri's urge I'd the company's stockholders to any to stock. fiscal point, are report so who will the SEC remind presentations investment our

vote in reporting will X-K be business a the Form We filed results final to be within X days.

As of described elected number the may by director only will The plurality cast. a votes the be be in received proxy, X who of largest nominees votes elected. a

number Inspector that the by informed candidates votes. report that been vote by largest have the nominated Election the preliminary the shows of Oil-Dri of received X We

at the appointment of an of for Thornton necessary of year this for second item the majority as XX, affirmative fiscal ratification is of July Regarding business, XXXX. meeting independent Grant ending auditor votes Oil-Dri's the represented the

preliminary that Election more We informed by have meeting. than ratification majority the of this received the vote such Inspector that reports at been votes a of the represented

entitled by the common a of our stock. a together common the by to of outstanding the the as Regarding in of voting certificate approve the the as is addition a and majority number be amendment B voting votes to to approval of holders business, majority the approval class Class to votes of of of stock to stock cast be increase our single incorporation our a authorized to the necessary of class outstanding of shares of item the holders third cast common stock separately entitled

of votes holders of that proposal outstanding to holders majority addition to of am that approval Corporation Meeting now America than of at common more business the the This meeting. our more by than happy introduce a been Election and come Annual being of this of stock business financial by Class for together preliminary voting Jaffee, voting stock conducted and such the approval Officer, no to the a report stock the to Dan business entitled I a separately informed majority vote review. the outstanding Executive Inspector received the have be our votes cast be single of before the and of be of our President We entitled cast the shows as Stockholders our B common further by class class. in meeting, Chief There to XXXX to as of now is Oil-Dri concludes presentation adjourned. a

annual the and our Thank you, Tony, of portion welcome, presentation everybody, to meeting.

teammates. formal will respond don't things happy from we in be to of to be presentations. And we the several then also, You'll cover questions hearing

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you're So Susan, up.

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the continues sales, and net in the records did continuing of income. set gross We include fiscal of close So quarter did highlights fiscal Monday net We after to XXXX. terms results. on market to the in which first released so of in show XXXX, fiscal profit, we so XXXX strong

business of where and Bruce completed all the the in Oil-Dri's diesel renewable of also, about fiscal Pet walk exciting. business with we been the us And initiatives, Ultra a And have more other Company, update. significant definitely is largest as will acquisition very through business. growth through when goes that with success hear in the the fluids Lamson We exciting shareholders. sharing some from it get the Chris to of during It's XXXX, you'll the acquisition part history Patsey tailwind you purification, speaking

if we million So that dividend that's some to later. acquisitions split something actually about up, order for million capacity $X.XX and us, from our our we'll go. split, And we did we prior credit make per $XX to per ready in stock talk facility $X.XX and are revolving the to to comes increase to in double the a any case other sure from share stock share, to $XX little upsized there keep are opportunistic

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will read unlock we Ultra synergies January to December course, The are earlier we seeing of post-split and will Tony, be the X-for-X we votes, Dan We on a will trade beginning implement and basis record Pet that mentioned And stock date XX the acquisition. with that the split. X. expected begin

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away. it take Chris, So

and Bruce, everybody. Thanks, morning, good

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Great. Thank you, Wade.

for Tribune. for most companies for a again the a Chicago company out as of shout more. He outstanding entire to the the being XXXX And Year list But gives by her of he second a Chicagoland CFO have we recent I'm We Next, Susan for to America's an recognized team A on us once award first, going successful Kreh small-cap compliment. consecutive Bair. in congratulates question ranked from John Oil-Dri and workplace year. Forbes top add the one year.

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Thank joining, the day. have meeting. for pleasant That you concludes a and