Oil-dri Corporation Of America · NYSE:ODC
Oil-dri Corporation Of America — FY2024 Earnings Presentation
91 slides from Oil-dri Corporation Of America's earnings presentation, Dec 11, 2024
Slide 1: Annual Meeting of Stockholders Fiscal Year 2024
Annual Meeting of Stockholders Fiscal Year 2024
Slide 2: Introduction
Introduction Leslie Garber Director of Investor Relations
Slide 3: Agenda
AGENDA •Election of Directors & Other Proposals •Business Presentations & Financial Review •Questions & Answers 2
Slide 4: Election of Directors & Other Proposals
Election of Directors & Other Proposals Tony Parker Vice President, General Counsel & Secretary
Slide 5: Agenda: Proposals 1-3
AGENDA •Proposal No. 1: Election of Directors •Proposal No. 2: Ratification of Appointment of Independent Auditor •Proposal No. 3: Approval of an Amendment to our Certificate of Incorporation to Increase the Number of Authorized Shares of Common Stock 4
Slide 6: Cautionary Statements Regarding Forward-Looking Information
Cautionary Statements Regarding Forward-Looking Information Certain statements in this presentation 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, fo
Slide 7: Non-GAAP Measures
Non-GAAP Measures To supplement our consolidated financial statements prepared in accordance with generally accepted accounting principles (“GAAP”), Oil-Dri provides certain non-GAAP financial measures in this presentation as supplemental financial metrics. In particular, EBITDA, Net Debt, and Free
Slide 8: Fiscal Year 2024
Fiscal Year 2024 Daniel S. Jaffee President & Chief Executive Officer
Slide 9: New Vice Presidents & Senior Leadership Promotions
New Vice Presidents & Senior Leadership Promotions Daniel S. Jaffee President & Chief Executive Officer
Slide 10: Tom Atyeo
Tom Atyeo VP, Consumer Division Product Development & Commercial Currently at Oil-Dri: • Development of New Crystal Litter Products • Leading Crystal Litter Sourcing Activities • Support Consumer Division Sales Team Experience: • 7 months with Oil-Dri - VP, Consumer Division Product Development & Co
Slide 11: Don McAllister
Don McAllister VP of Sales, Consumer Grocery Currently at Oil-Dri: • Oversight Consumer Sales for Grocery, Pet, & Club Channels • Internal Business Planning Strategy & Integration Experience: • 8 Months with Oil-Dri - VP Sales, Consumer Grocery • 23 years with The Clorox Company - Sr. Director, Sale
Slide 12: Tony Parker
Tony Parker VP, General Counsel & Secretary Currently at Oil-Dri: • Oversight of all Legal Affairs of the Company Experience: • 6 years with Oil-Dri - VP of Legal - Assistant General Counsel & Assistant Secretary • Associate Attorney at two Chicago-based law firms - Part of National Trial Practice G
Slide 13: Deems Southard
Deems Southard VP and General Manager Industrial, Automotive & Sports Division Currently at Oil-Dri: • Business Management of the Industrial, Automotive and Sports Division Experience: • 24 years with Oil-Dri - National Sales Manager, Industrial & Automotive Products Division - Regional Sales Manage
Slide 14: Jose R. Torres
Jose R. Torres VP of Treasury and FP&A Currently at Oil-Dri: • Oversight of Treasury and Financial Planning & Analysis Experience: • 1 year with Oil-Dri - VP of Treasury and FP&A • 24 years with AT&T and DIRECTV Latin America - Corporate and Operational FP&A • 6 years with Quintana & Lewis - Assuran
Slide 15: Financial Results
Financial Results Fiscal Year 2024 & Q1 Fiscal Year 2025 Susan Kreh Chief Financial Officer & Chief Information Officer
Slide 16: Business & Financial Highlights
Business & Financial Highlights • Set new records in consolidated net sales, gross profit and net income • Completed largest acquisition in ODC’s history • Ultra Pet Company, Inc. • Significantly grew our renewable diesel business • Doubled annual dividend increase from $.04/share to $.08/share • In
Slide 17: R&W: Net Sales by Principal Product
R&W: Net Sales by Principal Product (millions) $300 CAGR: 11.0% $250 $242 $226 $196 $200 $150 CAGR: 7.8% $100 $50 $39 $44 $45 $0 Cat Litter Industrial & Sports FY22 FY23 FY24 16
Slide 18: B2B: Net Sales by Principal Product
B2B: Net Sales by Principal Product (millions) CAGR: 22.1% $100 $92 $90 $80 $78 $70 $62 $60 CAGR: 5.0% $50 $40 $40 $34 $30 CAGR: 8.1% $30 $24 $24 $21 $20 $10 $0 Agricultural & Horticultural Fluids Purification Animal Health & Nutrition FY22 FY23 FY24 17
Slide 19: Net Sales
Net Sales (millions) $450 CAGR 11.5% (FY 20 - FY 24) $438 $413 $400 $349 $350 $305 $300 $283 $250 $200 FY 20 FY 21 FY 22 FY 23 FY 24 18
Slide 20: Net Sales (with Q1 comparison)
Net Sales (millions) $500 CAGR 11.5% (FY 20 - FY 24) $450 $438 $413 $400 $349 $350 $305 $300 $283 $250 $200 $150 $128 $111 $100 FY20 FY21 FY22 FY23 FY24 Q1 FY24 vs Q1 FY25 19
Slide 21: Net Sales Growth Drivers
Net Sales Growth Drivers (millions) $460 +5.9% $450 ($20) $440 $438 $5 $40 $430 $420 $413 $0 FY23 Price/Mix Volume Acquisition FY24 20
Slide 22: Tons Sold
Tons Sold (thousands) CAGR 0.6% (FY 20 - FY 24) 840 828 820 811 800 783 780 773 760 755 740 720 700 FY 20 FY 21 FY 22 FY 23 FY 24 21
Slide 23: Tons Sold (with Q1 comparison)
Tons Sold (thousands) CAGR 0.6% (FY 20 - FY 24) 900 828 811 800 783 773 755 700 600 500 400 300 198 215 200 100 FY20 FY21 FY22 FY23 FY24 Q1 FY24 vs Q1 FY25 22
Slide 24: Net Sales Per Ton
Net Sales Per Ton CAGR 10.8% (FY 20 - FY 24) $600 $566 $550 $509 $500 $450 $421 $400 $389 $375 $350 $300 FY 20 FY 21 FY 22 FY 23 FY 24 23
Slide 25: Net Sales Per Ton (with Q1 comparison)
Net Sales Per Ton CAGR 10.8% (FY 20 - FY 24) $600 $594 $566 $563 $550 $509 $500 $450 $421 $400 $389 $375 $350 $300 FY20 FY21 FY22 FY23 FY24 Q1 FY24 vs Q1 FY25 24
Slide 26: Gross Profit Per Ton
Gross Profit Per Ton CAGR 15.5% (FY 20 - FY 24) $162 $160 $140 $127 $120 $100 $91 $83 $80 $75 $60 $40 FY 20 FY 21 FY 22 FY 23 FY 24 Data for FY20 has been adjusted for a reclassification of costs between selling, general and administrative expenses and cost of sales. 25
Slide 27: Gross Profit Per Ton (with Q1 comparison)
Gross Profit Per Ton CAGR 15.5% (FY 20 - FY 24) $200 $189 $180 $162 $160 $156 $140 $127 $120 $100 $91 $83 $80 $75 $60 $40 FY20 FY 21 FY 22 FY 23 FY24 Q1 FY24 vs Q1 FY25 Data for FY20 has been adjusted for a reclassification of costs between selling, general and administrative expenses and cost of sa
Slide 28: Gross Margin %
Gross Margin % 35.0% 30.0% 28.6% 25.0% 25.0% 24.3% 21.4% 20.0% 17.9% 15.0% 10.0% FY20 FY21 FY22 FY23 FY24 Data for FY20 has been adjusted for a reclassification of costs between selling, general and administrative expenses and cost of sales. 27
Slide 29: Gross Margin % (with Q1 comparison)
Gross Margin % 35.0% 31.9% 30.0% 28.6% 27.8% 25.0% 25.0% 24.3% 21.4% 20.0% 17.9% 15.0% 10.0% FY20 FY 21 FY 22 FY 23 FY24 Q1 FY24 vs Q1 FY25 Data for FY20 has been adjusted for a reclassification of costs between selling, general and administrative expenses and cost of sales. 28
Slide 30: Net Income Per Ton
Net Income Per Ton CAGR 19.5% (FY 20 - FY 24) $70 $60 $51 $50 $40 $36 $30 $25 $20 $14 $10 $7 $0 FY 20 FY 21 FY 22 FY 23 FY 24 FY22 data includes a non-recurring charge related to Goodwill Impairment of $4.4M, net of tax. FY23 data includes non-recurring charges related to Landfill Modification and P
Slide 31: Net Income Per Ton (with Q1 comparison)
Net Income Per Ton CAGR 19.5% (FY 20 - FY 24) $105 $85 $76 $65 $54 $51 $45 $36 $25 $25 $14 $7 $5 FY20 FY 21 FY 22 FY 23 FY24 Q1 FY24 vs Q1 FY25 FY22 data includes a non-recurring charge related to Goodwill Impairment of $4.4M, net of tax. FY23 data includes non-recurring charges related to Landfill
Slide 32: EBITDA
EBITDA (millions) CAGR 16.9% (FY 20 - FY 24) $80 $70 $70 $60 $51 $50 $40 $37 $30 $28 $20 $20 $10 FY 20 FY 21 FY 22 FY 23 FY 24 See Appendix for reconciliation 31
Slide 33: EBITDA (with Q1 comparison)
EBITDA (millions) CAGR 16.9% (FY 20 - FY 24) $80 $70 $70 $60 $51 $50 $40 $37 $30 $28 $26 $20 $20 $17 $10 FY 20 FY 21 FY 22 FY 23 FY 24 Q1 FY24 vs Q1 FY25 See Appendix for reconciliation 32
Slide 34: Earnings Per Basic Common Share
Earnings Per Basic Common Share CAGR: 21.3% (FY20-FY24) $7.00 $6.00 $5.85 $5.00 $4.45 $4.00 $3.00 $2.70 $2.00 $1.61 $1.00 $0.83 $0.00 FY 20 FY 21 FY 22 FY 23 FY 24 33
Slide 35: Earnings Per Basic Common Share (with Q1 comparison)
Earnings Per Basic Common Share CAGR: 21.3% (FY20-FY24) $7.50 $6.00 $5.85 $4.45 $4.50 $3.00 $2.70 $2.43 $1.61 $1.61 $1.50 $0.83 $0.00 FY 20 FY 21 FY 22 FY 23 FY 24 Q1 FY24 vs Q1 FY25 34
Slide 36: Paid Dividends Per Share
Paid Dividends Per Share CAGR: 3.8% (FY20-FY24) $1.20 $1.16 $1.15 $1.12 $1.10 $1.08 $1.05 $1.04 $1.00 $1.00 $0.95 $0.90 FY 20 FY 21 FY 22 FY 23 FY 24 35
Slide 37: Paid Dividends Per Share (with Q1 comparison)
Paid Dividends Per Share CAGR: 3.8% (FY20-FY24) $1.20 $1.16 $1.12 $1.10 $1.08 $1.04 $1.00 $1.00 $0.90 $0.80 $0.70 $0.60 $0.50 $0.40 $0.29 $0.31 $0.30 $0.20 FY 20 FY 21 FY 22 FY 23 FY 24 Q1 FY24 vs Q1 FY25 36
Slide 38: Significant Cash Outlays
Significant Cash Outlays (millions) FY 23 FY 24 $2.7 Operating $14.1 $44.3 Working Operating Capital Working Acquisition Capital $32.0 CapEx $24.4 CapEx $1.1 Share Repurchases $2.8 $7.8 $7.4 Share Dividends Dividends Repurchases Note: The FY24 acquisition amount is subject to final purchase price ad
Slide 39: Debt
Debt (millions) $60.0 $50.8 $50.0 $40.0 $32.8 $31.8 $30.0 $20.0 $9.8 $8.9 $10.0 $0.0 FY 20 FY 21 FY 22 FY 23 FY 24 38
Slide 40: Debt (with Q1 comparison)
Debt (millions) $60.0 $50.8 $50.0 $45.8 $40.0 $32.8 $31.8 $31.8 $30.0 $20.0 $9.8 $8.9 $10.0 $0.0 FY 20 FY 21 FY 22 FY 23 FY 24 Q1 FY24 vs Q1 FY25 39
Slide 41: Net Debt
Net Debt (millions) $27.3 $25.0 $16.5 $15.0 $5.0 $0.1 $(5.0) $(15.0) $(15.7) $(25.0) $(35.0) $(31.0) FY 20 FY 21 FY 22 FY 23 FY 24 See Appendix for reconciliation 40
Slide 42: Net Debt (with Q1 comparison)
Net Debt (millions) $35.0 $33.3 $27.3 $25.0 $16.5 $15.0 $5.0 $2.3 $0.1 $(5.0) $(15.0) $(15.7) $(25.0) $(35.0) $(31.0) FY 20 FY 21 FY 22 FY 23 FY 24 Q1 FY24 vs Q1 FY25 See Appendix for reconciliation 41
Slide 43: Free Cash Flow
Free Cash Flow (millions) $35 $27.7 $28.3 $25.4 $25 $15 $5 $(5) $(5.2) $(15) $(13.0) FY 20 FY 21 FY 22 FY 23 FY 24 See Appendix for reconciliation 42
Slide 44: Share Price
Share Price (As of year-end or quarter-end) $70.00 $67.85 $65.10 $62.77 $60.00 $50.00 $40.00 $34.77 $35.57 $30.00 $30.14 $20.00 FY 20 FY 21 FY 22 FY 23 FY 24 Q1 FY 25 43
Slide 45: Oil-Dri: No Longer a Smaller Reporting Company
Oil-Dri: No Longer a Smaller Reporting Company Public Float (Millions) $325 ODC SRC Threshold $315.9 $300 Measured on January 31, 2024, ODC’s public float $275 exceeded the SRC threshold of $250M. $250 $225 $200 $193.5 $185.6 $180.5 $186.6 $175 FY 20 FY 21 FY 22 FY 23 FY 24 Public float is equal to
Slide 46: Fiscal Year 2025 Outlook
Fiscal Year 2025 Outlook • Grow top and bottom lines with improved volumes and product mix • Invest in manufacturing infrastructure to enhance operational efficiency and support long-term growth • Integrate Ultra Pet to unlock synergies, drive growth, and expand market presence • Implement a 2-for-1
Slide 47: Operations
Operations Fueling Growth through Superior Service and Ongoing Investment Aaron Christiansen Vice President of Operations
Slide 48: Lesson Learned #9: Great Customer Service as a Strong Foundation
Service as a Strong Foundation Oil-Dri Lesson Learned #9: World class service for Great customer our customers is the service leads to foundation that we grow from… customer loyalty 47
Slide 49: Service KPIs & Definitions
Service KPI’s & Definitions Case Fill Rate %: • A measure of the percentage of pallets (or other units of measure) that are SHIPPED per a customer’s original order. Order On-Time Arrival to Request Date %: • A measure Worldof theService Class percentage for of orders that ARRIVE on-time our Customer
Slide 50: Oil-Dri Case Fill Rate Performance
Oil-Dri Case Fill Rate Performance 100.0% 99.0% For 3 years and running, Oil-Dri has exceeded 98.0%. 98.0% Oil-Dri now routinely 97.0% World Class Service for holds at >99.7% & Customer Requirements our Customers is from range the 95-98% only 1 in 300 pallets 96.0% Foundation that we is “missed”. gr
Slide 51: Oil-Dri On-Time Performance
Oil-Dri On-Time Performance The most demanding customers expect 95.0% >90% On-Time Oil-Dri has exceeded all customer goals 85.0% for 7 quarters in a row. 75.0% Estimated industry averages have risen to ~87.0% in fiscal Oil-Dri has exceeded year 2024 estimated industry 65.0% averages for 10 quarters
Slide 52: Achieving Excellence in Service Results
Achieving Excellence in Service Results Service results are achieved through careful execution in multiple areas: “Give me six hours to chop • Improved forecasting and planning tools down a tree, • Improved operational execution and excellence • Strong supplier partnership and redundancy and I will
Slide 53: Capital Expenditures
Capital Expenditures (millions) $35 Infrastructure needs, Capacity, Flexibility, Sustainability, and Savings $32 Oil-Dri remains $30 Projects are all being executed dedicated to reinvesting in its $25 $24 infrastructure for $22 the long term. $20 World Class $19 Service for our Customers is the Curr
Slide 54: Our Infrastructure
Our Infrastructure World Class Service for our Customers is the Foundation that we grow from… Our facilities are our future 53
Slide 55: Agricultural Applications: Capacity Expansion
Agricultural Applications: Capacity Expansion • ON TRACK – Starting the utilization of new assets NOW • Debottlenecks screening and classification for premium fine granule agricultural products World Class Service for • Adds volume and flexibility our Customers is the for traditional angular Agsorb
Slide 56: Fluids Purification: Capacity Expansion
Fluids Purification: Capacity Expansion • Modernized our fluids purification milling operation World Class Service for our Customers is the • Improved outbound rail Foundation that we transit capability grow from… Completed • Addressed rate Summer 2024 constrained processes to add capacity and prepa
Slide 57: Power Infrastructure: Major Overhaul
Power Infrastructure: Major Overhaul Capital investments do not necessarily need to be “exciting” to be vital to improving operational efficiency. Stable and reliable power is essential to plant operations. 56
Slide 58: Teammates: Oil-Dri's Secret Weapon
Teammates: Oil-Dri’s “Secret Weapon” Oil-Dri Lesson Learned #7: Winning at Oil-Dri is a Team Game 57
Slide 59: Fluids Purification: Building Momentum
Fluids Purification Building Momentum Bruce Patsey Vice President, Fluids Purification
Slide 60: Business Focus
Business Focus Vegetable Oil Jet Fuel Biofuels 59
Slide 61: Fluids Purification: Net Sales
Fluids Purification: Net Sales (millions) CAGR: 15.2% (FY20-FY24) $100 $92 $85 $78 $70 $62 $55 $53 $53 $40 $25 FY 20 FY 21 FY 22 FY 23 FY 24 60
Slide 62: Fluids Purification: Net Sales (with Q1 comparison)
Fluids Purification: Net Sales (millions) CAGR: 15.2% (FY20-FY24) $100 $92 $85 $78 $70 $62 $55 $53 $53 $40 $31 $25 $22 $10 FY20 FY 21 FY 22 FY 23 FY24 Q1 FY24 vs Q1 FY 25 61
Slide 63: Biofuels: Renewable Diesel & SAF
Biofuels: Renewable Diesel & SAF Renewable Diesel • Drop-in fuel, like gasoline or diesel • Can replace or supplement existing petroleum-based fuels • Transported in petroleum pipelines and sold at retail stations Sustainable Aviation Fuel (SAF) • A fuel used to power jet aircraft • Can be blended a
Slide 64: Renewable Diesel Programs
Renewable Diesel Programs • Renewable Fuel Standard (RFS) Federal program that requires a certain volume of renewable fuel be used to replace or reduce the quantity of fossil fuel in transportation fuel, home heating oil, or jet fuel. • Blender's Tax Credit Federal policy that provides tax relief fo
Slide 65: Adsorbents for Renewable Diesel
Adsorbents for Renewable Diesel • Ideal properties for use in the pretreatment of a diverse range of vegetable oil or animal fat feedstocks • Engineered to adsorb a range of trace elements and phosphorus containing compounds that are detrimental to downstream processes and equipment • Ground and siz
Slide 66: Forging Long Term Relationships
Forging Long Term Relationships Understanding Needs of Oil & Fats Customers: • Investing in and providing on-time supply • Producing consistent high active adsorbents • Creating value for customers through technical support • Providing customer support with experienced sales team 65
Slide 67: Partners in Science
Partners in Science Our Bleaching Earths are Backed By Over 80 Years of Research We maintain a R&D facility in Vernon Hills, Illinois where our core technical service team and lab are based. Teammate Highlight Victor Vega is part of a dedicated technical service team continuously researching and opt
Slide 68: Continuous Focus on Growth
Continuous Focus on Growth • New renewable diesel plants are expected to come on-line in fiscal year 2025 • Opportunity for growth in markets outside of the U.S. • Processing team dedicated to continuous improvement • Investment in transportation methods for delivering product on-time • Strong techn
Slide 69: Consumer Products
Consumer Products Driving Lightweight Segment Growth & Capitalizing on Crystals Chris Lamson Group Vice President, Retail & Wholesale
Slide 70: Total Domestic Cat Litter: Net Sales
Total Domestic Cat Litter: Net Sales (millions) CAGR: 10.6% (FY20-FY24) $220 $213 Acquired Ultra Pet Company, Inc. on Crystals $5 May 1, 2024 Base Business $200 $196 $208 $180 $169 $160 $154 $142 $140 FY 20 FY 21 FY 22 FY 23 FY 24 Excludes co-packaged coarse cat litter 69
Slide 71: Domestic Lightweight Cat Litter: Net Sales
Domestic Lightweight Cat Litter: Net Sales (millions) CAGR: 17.3% (FY20-FY24) Lightweight 17.3% $110 CAGR vs. 10.6% Total $106 Domestic Litter Business $100 $95 $80 $77 $66 $65 $56 $50 FY 20 FY 21 FY 22 FY 23 FY 24 Data reflects domestic lightweight clay cat litter. 70
Slide 72: Delivering on Lightweight Segment Growth
Delivering on Lightweight Segment Growth Total LW segment sales grew almost $100M over 3 years! Private Label Lightweight (“PL LW”) Source: Nielsen Scantrack, Market: Blended $+U Share, xAOC+Pet Supers, Stackline Atlas, Total Amazon, updated through 11/2/2471
Slide 73: Delivering on Lightweight Segment Growth
Delivering on Lightweight Segment Growth Innovate around the unique Continuing to drive properties of our Lightweight clay Antibacterial 1 Integrated marketing Lightweight at the center of focused on lightweight & consumer message performance 2 Driving distribution in Partner with customers on end-
Slide 74: Innovate: Continuing to Drive Antibacterial
Innovate: Continuing to drive Antibacterial E-Commerce Sales Velocity +11% Integrated Marketing Distribution Gains Support Source: Nielsen Scantrack Data, Market: xAOC+Pet Supers, Stackline Atlas, Total Amazon, updated through 11/2/24 73
Slide 75: Consumer Message: Full Funnel Integrated Marketing
Consumer Message: Full Funnel Integrated Marketing Driving Awareness through Purchase Streaming Video (CTV / OTT / OLV) AWARENESS Streaming Audio Digital Print Programmatic Display Paid Social & CONSIDERATION Influencers Paid Search Sampling & Reviews Ecomm – Search, CONVERSION Digital Display, Offe
Slide 76: Integrated Marketing Focused on Lightweight and Performance
Consumer Message: Integrated Marketing Focused on Lightweight and Performance 75
Slide 77: Partner: New Distribution in Growth Channels
Partner: New Distribution in Growth Channels New Cat’s Pride Distribution in Farm & Fleet Do It Yourself 76
Slide 78: Partner: Launched New Lightweight Bags to Expand Value Offering
Partner: Launched New Lightweight Bags to Expand Value Offering Offering Consumers Greater Value with Digital marketing communicating value Large Bag Offering and performance to support launch 77
Slide 79: Partner: Driving Distribution Growth with New Value Size Bags
Partner: Driving distribution growth with new value size bags Building Distribution in Brick & Mortar With More Expected! Essential to Driving Ecommerce Profitability & Loyalty Source: Nielsen Scantrack Data, Market: xAOC, Data ending 11/2/24 78
Slide 80: Delivering Lightweight Litter Segment Growth
Delivering Lightweight Litter Segment Growth Innovate Consumer Message Partner 79
Slide 81: Why Crystals?
Why Crystals? • Crystals is growing 48% (5-yr CAGR), outpacing category trend, with growing interest from key Growing retail partners Segment • Segment is ready for value offering, and we are uniquely poised to address this market need Value Offering • Crystals fits with our lightweight & convenienc
Slide 82: Better Together: Oil-Dri & Ultra Pet
Better Together: Oil-Dri & Ultra Pet Now United for the Best Lightweight Crystals Advertising with Convenience Litter Performance & Odor Control Messaging 81
Slide 83: Better Together: Oil-Dri & Ultra Pet (Cont'd)
Better Together: Oil-Dri & Ultra Pet (Cont’d) Sales Synergy Increasing Our Reach Expanded Distribution Network #1 #1 #1 Unit Share Unit Share Unit Share PL Clay PL Lightweight PL Coarse Source: Nielsen Scantrack Data, Market: xAOC+Pet Supers, Stackline Atlas, Total Amazon, updated through 7/27/24 82
Slide 84: Crystals Category is Prime for Private Label
Crystals Category is Prime for Private Label • Kroger’s Private Label (“PL”) Crystals past success reflects 135 velocity index average vs. other PL items • Growing retail customer interest • Grocery is underdeveloped in Crystals without PL, while crystal litter is overdeveloped in Walmart & Pet whic
Slide 85: Acting Fast: Crystals New Distribution
Acting Fast: Crystals New Distribution Total distribution points increased 21% and 124% outside of Publix since acquisition! 84
Slide 86: Crystals Growth Strategy
Crystals Growth Strategy Bring innovation and value Cat’s Pride Micro Crystals + ? to Crystals future innovation 1 Integrated marketing Lightweight/convenience/ focused on lightweight efficacy consumer message crystal performance & ease 2 of use Partner with customers to Developing Cat’s Pride/ Stor
Slide 87: Q&A
Q&A Please submit questions in the “Ask a Question” field of the webcast Stockholder questions or remarks must be relevant to the meeting and pertinent to matters brought before the meeting. Please see Rules of Conduct for more information.
Slide 88: Appendix
APPENDIX 87
Slide 89: Reconciliation: EBITDA
Reconciliation: EBITDA (millions) FY20 FY21 FY22 FY23 FY24 FY24 Q1 FY25 Q1 Net Income (M) 18,900 11,113 5,674 29,551 39,426 10,742 16,376 Depreciation & Amortization 13,923 14,177 13,474 15,528 19,281 4,368 5,381 Interest Exp 518 722 1,228 1,464 1,804 361 734 Interest Inc (259) (71) (45) (465) (873)
Slide 90: Reconciliation: Free Cash Flow
Reconciliation: Free Cash Flow (millions) FY20 FY21 FY22 FY23 FY24 Operating Cash Flow (M) 42.5 13.6 9.0 49.8 60.3 Capital Expenditures 14.8 18.8 22.0 24.4 32.0 Free Cash Flow (M) 27.7 (5.2) (13.0) 25.4 28.3 Free Cash Flow is defined as Operating Income calculated in accordance with GAAP, minus Capi
Slide 91: Reconciliation: Net Debt
Reconciliation: Net Debt (millions) FY20 FY21 FY22 FY23 FY24 FY24 Q1 FY25 Q1 Notes Payable (M) 8.9 7.9 31.8 30.8 49.8 30.8 44.8 Short-Term Payables 1.0 1.0 1.0 1.0 1.0 1.0 1.0 Cash and Cash Equivalents 40.9 24.6 16.3 31.7 23.5 29.5 12.5 Net Debt (M) (31.0) (15.7) 16.5 0.1 27.3 2.3 33.3 Net Debt is d
Oil-Dri Corporation of America — FY2024 Earnings Presentation on 6ix