Oil-Dri’s reveals 2022 YTD performance
In March 2022 Oil-Dri Corporation of America (Oil-Dri), announced strong results for its second quarter and first six-months of fiscal year 2022. The company’s year to date 2022 net sales increased 13.0% from their 2021 levels. However, Oil-Dri has suffered the effects from ongoing inflationary headwinds and the company implemented aggressive pricing strategies and cost saving measures to mitigate these pressures. Supply chain disruptions, logistics delays, and capacity constraints remained a challenge during the second quarter of fiscal 2022, causing a backlog of orders as Oil-Dri tried to keep up with higher demand.
COVID|CompetitionIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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