ODC - Earnings call transcript Q1 2019 | Oil-Dri Corporation of America

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Laura Scheland

Hi, good morning, ladies and gentlemen. I'm Laura Scheland, General Counsel of Oil Dri Corporation. This year is the first year that the Annual Meeting is available via phone line and webcast, so hence opening the lines.

Our agenda for today is, I will first conduct the Annual Meeting of Stockholders covering the Election of Directors and other stockholder voting items. I'll try to move through this quickly and [indiscernible]; so we can move on to the more interesting point part of the meeting.

presentation review the for by be Q&A. will and followed business time Next,

that questions Dri on hold portion we of to you So ask Annual XXXX your America. and now meeting. Meeting is order the XXXX, of of It until of now XX, XX:XX Oil December Stockholders I call Corporation the Q&A the

for the Dri will Oil I While the Secretary meeting. Assistant conduct the meeting, of the Tony minutes Parker, record

for of is affidavit stockholder affidavit mailing such signed of examination business which is confirming this an have of foregoings mailed and provide should you Dri that of here the the appropriate for internet, XX, present unless enter of proxy rules. taken them or may Commencing agenda record the copy oath and wish present [ph]. vote availability voted received ballot As as materials close the proxy this on ballots of XXXX, by you Solutions Oil ask change XXXX, and October time. for proxy today or those cast Oil by regarding October previously of materials not serve by to meeting. these rules is you who Financial XX, Elections I has the the of that at on Broadridge record We have govern room, date they today. meeting. Inspector to will Farrar desire Stockholders of a a conduct fixed has who available to mail telephone appointed proxy. Inc. using notice Gary He the all the was any the to the the their as to Dri an meeting meeting. We'll adhere stockholders Broadridge on the

July the meeting. the of the XX, is in of ending statement, Auditor fiscal Oil Thornton described ratify for appointment LLP may Grant proxy transact properly business any the to Dri's this other X Independent before year elect this as directors, XXXX, meeting and as purpose As come

XXXX, X,XXX,XXX of shares of date stockholder As list Oil this list is any Class an have outstanding shares shares alphabetical folders October stock such record today. I of meeting, of XX, Dri for for outstanding. of the the B Oil common available X,XXX,XXX examination stock present and and Dri such here there were by

transaction reform votes. our know, this declare you stock vote are and necessary are many As such more of constitute entitled votes this entitled at XX,XXX,XXX holders per business. entitled this our stock convened XX are of regard the to without are present Ferrar stock generally, vote I may holders class. of together share, one ready votes person [ph] stock represented number per a that to represented of A the of present the meeting if by has present is is than qurmance to votes all vote number me a meeting. informed Mr. Class meeting outstanding common of share B thus, to in proxy; properly and majority at common Therefore, vote or B form holders and at and of and accordingly, that for there and Class of meeting,

Joseph Directors therefore as their advanced such I Director, C. Daniel Director. stockholders to are as statement Dri. candidate are nominees Oil was for currently with to notice Michael statement, order. of proxy proxy described accordance elect Steven the Dri's Cole, serves The C. George Nemeroff, is now for Oil directors. proxy whom As Jaffee, Selig, closed. the a Ellen-Blair is required to listed each in Lawrence the Chube, of No E. in notice Roeth, of statement of and Suckow nominations Miller, a Oil described Director X A. Paul item Emotion E. the intent for received, Allan election bylaws, provide X J. In nominee first declare Washow. in S. directors nominees the Dri's H. These

Unidentified Company Representative

elected My Jokhosvky stockholder each as move H. serve to Meeting or their and S. of Steven Washow E. successors Stockholders a [ph] of and J. Annual am Nemeroff, Allan Ellen-Blair A. Suckow Roeth, Cole, C. that E. Karen C. Paul the respective I Directors XXXX record. Selig, name is Lawrence hereby until Joseph be Michael and are Miller, Chube, until Jaffee, qualified. Daniel I of George elected

Unidentified Company Representative

second I I the name of a motion. am and stockholder Leslie My Stephenchow record. is [ph]

Laura Scheland

on Are motion. would stockholders questions the any like who provide polls on given ballot. the declare this Please if previously call declare the proxy to not the vote open polls your now I hand this closed the desire We'll change hereby motion? to have ballots comments their you or there who to or votes. raise their any question on and I motion.

is fiscal in the auditor year July Oil ratification auditor. independent fiscal The of stockholders Directors Oil to appointment by order. to business has ratify as item LLP and has the XXXX. motion this independent Thornton submitted fiscal second Thornton Dri's XX, described Thornton be the July the XXXX in Grant Board completed Dri's of Grant Oil Oil for and Thornton just statement, that year is independent serve at again year has the the in fifth Dri's as appointment XXXX proxy ending A now of meeting. the of directed Audit for XX, auditor As of Dri ending Committee year appointed the the for the Grant ratification it's for Grant role as

Unidentified Company Representative

I Hazer move for XXXX, is of auditor Dri's July of Thornton hereby am the year a appointment fiscal Grant independent be record. I ending as LLP stockholder Oil and My to the ratified. Michelle [ph] XX, name

Unidentified Company Representative

[ph], I My record. motion. stockholder the I and a am Bruce name Payty is second of

Laura Scheland

I now or to results this will at and the declare motion. report questions the any declare the I on motion? I hereby now this the the polls vote there the voting to closed call open the on on meeting. Are polls comments motion. question

who each described in the me received by only nominated of of the is nominees candidates the statement, Dri be votes Director received that number I be of has X that informed X As a of until for Oil you. find of votes. qualified. number until the Oil Mr. or Oil been elected serve The Director largest the Congratulations may has proxy each plurality elected. of Meeting to Dri's Dri nominees therefore votes respective elected elected Ferrar a his/her XXXX as largest Annual will Director and count. to of successor Stockholders

auditor the July with I meeting Dri's has be any of find Dri representatives represented of has the appointment as are affirmative of is Grant today necessary will ending independent Note, and year more ratification votes proxy represented the ended independent in meeting. the XX, in Thornton ratification Thornton described at Grant that the XX, for us meeting XXXX here answer As Oil the statement, majority this me appropriate question. Oil to appointment such this Oil than XXXX. for Dri's Ferrar the for majority informed fiscal therefore available of received year as a been of ratified. July Mr. fiscal that votes after of the auditor

now this heard to adjourn there conducted completes now other a in the the meeting. is be order. Since the have at come meeting, results business no motion the matters You and to voting before are of this that

Unidentified Company Representative

record. stockholder am meeting Welburm My adjourned. name move that is I Curtis hereby a [ph], of be this I

Unidentified Company Representative

My Tony name record. of [ph] and am motion. I is second stockholder Mitchel the a I

Laura Scheland

SEC XX, saying saying by Those 'no'. The adjourned. favor signify of been statements please materially. future opposed, Any and please XXXX factors attending. Dri's has I declare of business. the uncertainties results presentation Thank important differ signify assumptions a on is performance could in to future hereby cause President by in you. are in our comments and Dri and Please Jaffee, of that our Oil to December the All this investment fiscal commentary XXXX. ended 'aye'. Report you and to a XX, any year review for may such forward-looking motion Oil carried. filings contain Dri's I and number validating for It expected Thank may Annual of actual risks, urge consider to highlight risk that Chief XX:XX any We adjournment, motion evaluating am our company's Dan carefully forward-looking We meeting affect Executive factors employees and stock. including certain note our invite that the subjects you statements Officer review any July by happy to today performance. Oil provide and Dan's of now these

Daniel Jaffee

Board. you, Laura. What introducing by to morning. the Thank I'd start do is Good like

call name, let's been As up our introduced. hold then until all and applause your stand I they've please

array have father's a the Board I and business. been that valuable I not I devise me the been think nice all is hope and to Before harder to emphasize it's to to want [ph] playing helping stacks run of it's harder wide role governance, been what passing, that my experience. they've with know increasingly strategy, start business Board really I've me there leaning strategy I And introduction, an they that help it's just the keep and just on

stand do supply appreciate with about our not company. he's hear very company. he's our learn [ph] here. he He our traveling, I news me it to got importance, So the Michael things is is and were Chief the our or -- Laura, of President BXB. our names just that's brand-new my if But stand Selig to but and going higher, time from Cole, you're order from the role and the call go to Vice see to who Agricultural have Nemeroff, Leming the stand let's McPherson, just year past Products people She they're Mike a Health I finally really and Animal I'm recognize the joke. Bud Financial And out to my add We alphabetical and Yasmith you long but going Miller, have followed those and can them a we the Thank to our BXB you going please to But We've Business consumer; happy. our order, the the promoted International, President when up? and fine. you see is in some Chief were also and because Asia, of got during add the President I'm recognize is Global playing in I'm of we're colored called, AMLAN to slides. raise I'm you typical chain, what Vice on for is in individuals, presentations, President we Bud, Susan Officer. going Division. Directors. you're up; ask lot the Vice Paul Animal essence Board today. you'll kidding, all forth. Health same of Okay, our Miles our and very, been old positions program [ph] commentary your encourage you. just who is want And of Suckow, you while you, Ellen-Blair Officer Joe recognize these lot can guys new. Division. and the She drop you to Vice line, Chube, or in President to then valuable Good, General Development to have Washow; and going either on on of so play-by-play. web you Larry cover, of please releases, a more Steve George of but -- or she that of cover Counsel so a LinkedIn is running And or off I done. Secretary. exciting at I these and to are Roeth, who I'll very

grew see XXXX. strategy. fiscal little You XX-year sales you, executing to we've I'll really a again, bit can But net been our XXXX a remind from

[indiscernible] low-profit profitable business, us our and legacy use cases been and allowed it's systems; capacity been up we've many As so layering in not well very new to our we've natural manage on of sort resource.

have actually sales compound $XXX $XXX see growth million that you the tons decade So annual while from declined. over to have million, gone X.X% slightly, sold our up our can

million we're to tons, So over we now are XXX,XXX. a down

that of justify which the So we dramatic, XX% our the of every a by that time it. commensurate, this we and vehicles has the processing play more non-renewable pretty resource value sure usage to it into given is this decline, all shift, make and want is to

again growing in then one by XXX,XXX per you see up in quickly you has our the that recent the And see been net the when divide from up can most the XXX,XXX tons. you sales quarter, So was dramatically to XXX,XXX can other, first fiscal ton pretty it year. to

$XX, good, during new basis company, drop the that's made of trend the that one; of the were on one then see customers unit our system implementation, making quarter. the shareholder $XX that to of from make of to a but for during you period Back logistics those our and minerals, to along want decade what per which ways so simple can to going then there's as a our is pay over us, stakeholders XXX% over value obviously are time delivering was down You And sorbent it $XX ago, quarter, relative see creating with really ton. value dramatic pretty a you're you a the to last five on and from pretty we that in in profit mission, can we is the words: but certainly we batch measure still the can it's explosion and standpoint in which were and is and because sure year from see, willing sales.

much were that. we thing; submit relatively, announced implementation down our on we about same then our inefficiencies trust quarter, in just To last so first quarter and the I just press product so and say our the increased has cost goods, and in could of of having versus the customers. ton, our been sorts ship [indiscernible], that surrounding and income of up quarter. amount new Net the doing per year's logistic really to As release first necessary; system went depends hit. actually was regardless, because it it this over year. Earnings million; basis forward income XXXX, first $X a adjustment apples-to-apples reported it all non-cash year's to not a we'll up a new time get cost to direct was tax it go it's this we that, take fiscal been you I against want thing we our tax against FXX rate $X.XX, accrue On as while had the per for But down; $X.XX one-time earnings $X.XX benefit share, when is know the share a that our adjust tax one say so is to to about $X.XX. adjustment, share coming law, good was we have our very per that would for an

standpoint. third an You call year maybe the can it best we've from had EPS

the in over that's through, $XX project in believe you always row. dividend a spent that significant very raised flow and hurt always they rate can various time take our the is and to our short-run spent our the annual earnings. long do the in our during through intention to the through to everything is up running as will see years now compounded meeting $XX with and same are a Safe a rate nice long Recently is long a from we're up points in our a billion up by dividend to last investment bit. benefit haul, the over and of of year, may holders' has quarter XX It's We short-run, penny the or this this and dividend Again, we we reaction Laura while but of again system most we payout For of growth certainly business almost we for Provision, the payout the things. of down a and to first that. a been certainly make that decade, $XXX,XX our so on and haul system don't the probably we long, They this did But for oil has. always raised thing run. Harbor money the are cash quarter on rate June hurt deal, new come mostly about investment the been the focus $XX dividend. decade, cash tow year, dramatically but sideways, We've board. by long-term the up. a And sort with penny [ph] it we've down, exactly on $XXX the in a share. expected and profitability it be year, always but price but where grow up, the our a can do the that of benefit for not live go again we Closing at short-term has We investments our long impact that see on you and our come. flow have time, the amount accruing may fiscal this on of talk crude million

dividend $XXX million, can stakeholders, these more then our through but million $XX actually leading You've We and our million, actually this work got we to were product at are a we R&D. you've $XX tangible that really got in million, CapEx probably than and so invested way then almost capture. at did bonus development paid the dollars $XX the plans forth,

$XXX that net over and other than yet We our cash gone indebtedness stakeholders, decade in more and way. million in So has have business our our the invested debt. the now

we're long $X term think million is to be. which of [ph] a debt, real down to I nice

middle that. very but well creating We value. fit our as feel take strong. and So continuously of the extend with very new with in been it's to looking certainly our debt We're line to very, that not don't have going [indiscernible] enough capacity mission, opportunities We right that they that that for opportunities to we working. come. from is are sheet deviate opportunities there's on We're have mission balance right this

Operator

Would on turn you the end? your This volume operator. the up is please

Daniel Jaffee

better? I guess better Is lean probably in. I got to that now. Sure. That's

Operator

you. thank better, Much

Daniel Jaffee

done. I'm now And Okay.

you're to this. have going Mark, So do to

Mark Lewry

called in We close systems, then really that several to the of challenges but quality metric team go and at standpoint, a our requires. over packaging past quality Equipment packaging not measuring standpoint, in had We in gap the some start meet-or-exceed we've you there, we is talk a fiscal from infrastructure, that Effective consumer of particularly and in also morning. a lines, We're lines and of that invested in measure because improvement in what we about now past this also From approve we of downstream and to in an upstream had we with we year great have this you our gap And had we success comprehensive to actually really of couple our morning. had at new with share products is measure the manufacturing Oil faced years which fiscal course can evolve which year our it's like does so efficiency quality QX. a to stay so Total only Manufacturing XXXX more did our ago. and going an we'll products. Performance. plans, delivering Good XXXX. our invested in a good on to I Dri efficiencies measure business From a systems slides we -- TEEP, XX%. your what

continue lights. so Cat the again, continues of growth outstanding consumer course highlights, On we've equation, significantly. been a the leg streamlining the there. of to to manufacturing fiscal to had, the the one business. strategy. number element there, success initiatives stay some another business look business our as to business cost by the up the the driving well key been low our there at news, of a over now have with had as in port really we're Shifting be litter good savings for of consumer despite good that's That's has and cost side Quality the efficiencies some basically deliver beginning year, to we this turbulence

customer the goodness we a we the middle to plant that Cut The ahead or If our the of so the and be had directly get with year. which the brands year, with that, news our XX% our significant cut actually is of this now bubbles the done it's intermedia. service acquired is JD the the our agricultural small, new hadn't XX% Georgia anticipated really some good is we've capacity. a of large first grew has Dan we a the sight But with One as it we that. that we'd that had invested and We and floor large thank about clay up in pressure the in couple call on and of Edwards have put this capacity challenging we've up it. of suffered. mentioned, been hit quarter by growth it's one hurricanes, challenged business, manufacturing

back have and for key through been as the it mentioned up to worked Dan QX XX%, that the customers and down we the has the dropped the we've through recovery customer, for up on mentioned our here with cost $X see one you last Just to data XXs. that other and where actually one year. now in jumped entire grown Logistics some release this But dramatically can They're XX%. the million. over in as year morning couple

our accelerated give that have our were break some Most that alone that and XX% quarter was they business down This there. this for and of costs. a you is the the so we in did tried -- of to business product million, about over We those that consumer that disruptions but then and business due get ad we market-based some business, is service was XX% rates, about customers to of to and of try segment of occurring XX%. the growth some up of growth what's to $X logistics over feel to

growth is the is market past the gas and jumped to quarters. now see forward we continued of anybody be which cost has if We tracks it seek the about going horizon $X.X continue. for Natural same natural month Again, logistics the up $X in invest million $X.X time And business, will period. and us up of mentioned that that growth the earlier, particularly then with rest year, we're about keep rate, and that supply business. that rates of to great but started up by this we're gas, but million are next up it we so winter manufacturing staying the excited need driven for next $X probably intermediate the at in to we all, to months, continue million I two year Looking last year. Challenges off the rest of then and on from and All with as year. product. the need year; cost million the in the to this we chain expected in over as significantly challenges really to anywhere three about the to

I'll Okay. to it turn With that, over Mike.

Michael Nemeroff

about bit products some little and certain probably largely is business. we the BXB.' Dri broader BXB? on the side customers when bit Oil BXB company what the glimpse of of -- really agricultural have the best the the give highlights get group the a customers in with We the a most to to is a My in overview I'm business you year bit coming yours BXB in were for ay understand is, out aspects don't of explain markets an of answer that with what is a of our what thought then are little not when perspective last you're familiar me I the groups -- of questions and groups. understand One consumer to do When type little is of going and would BXB in 'could everybody I'll our BXB what sense. new performing talk I involved years them for I one some I give you involved of markets of meet in involved today common marketplace of type pipeline. the our We say

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Operator

operator. Pardon This me. the is

volume adjust? dropped Can Your has please audio you again.

Michael Nemeroff

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Unidentified Company Representative

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Unidentified Company Representative

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played]. results with so partnership, start So clip excited of a is kind the highlights out to week, show from exemplifies you were entire this a programs. that that couple beyond really we minutes of that that make just had. the we'll / online and on-Air was that were very is critical highlighting of we just being on integration just I'm sure show this we of [Video joining The the offline couple a throughout wanted some of integration. Commercial -- but partnership to for was these We portion exciting. this and Clip minutes the components

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Daniel Jaffee

another for presenters. of applause our How round about

in got great everything and innovators creative to which unique the product really of we into a we're who glimpse into are, and billions mother years it. are get you've consumers, there put mineral It's trying how think this whether nature take cat. I ago, that it's thrive to food to survive upto and what's we just need we that whether economically in in for out or us to chain can and figure the it's ground

on. that the guys got it segments just of any excited And feel answer you I'd future and different open a from Q&A to love three I so we got about Q&A to going hope so you excitement for questions upto might are have. We've the presenters.

lines think question, you the the with and we put back after please your just line. on will [ph], phone you background And mute any start phone ask I Reagan handle get noise. phone so don't Let's your

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Operator

Our question Instructions] Ethan Starr, first comes an from [Operator investor.

Ethan Starr

Good and really we're the term? the And presentation, over second save help will system, ERP related results? system how morning, Dan also Fabulous will excited And going to very the quarter fact longer money everyone. what new forward. this, extent you my in cost to is, question

Daniel Jaffee

economic we totally forward. quantifiable. economic mean absolutely certainly is impact have quarter not impact on positive negative going questions, Good and and second believe the then there going a I to

are refine, this do, at to to dollars those is aren't help being us everything tweak, expenses, doing point developers was are we it consulting, system and all spending on programmers make and because live. on bringing the money intended went and We sure of still in those that capitalized

to opportunities we it's So I've I ability and going it's and to hard it's guidance; generic to dividend. not our just just terms impact put don't it really you guidance to our of quantify to going be know, I you of in given really impact and sort not the the invest growth hate evasive, give in will

the great is no. in. back you to opportunities, two going these as are answer product pull about you those are of that's and some So a hurt interested and and most Are my best to shareholder, the answer the guidance give I new have can things you is long-term the on be you'd going private to dividend, no;

best answer can questions. your So I that's way the

Operator

from for Performance Our with Robert next comes Center the Smith question Investing.

Robert Smith

your plan stakeholder's for and the and it I'm you I the loving how with disappointments is, quarter to and challenges the letter, deserving disappointment My dad and and expressed in tribute eloquent gracious you admire thanks was future? results, to question address in the immediate Dan, first your them. wondering

Daniel Jaffee

was we effort, tested things incredible about and trying My not disappointment team's disappointment. went Let me been probably the put our with certainly before forth to team an have should effort that overcome talk live. validated the

our going take was ERP goes much was and everybody we in the And doing these they didn't through room to job on started be we going learning conference balls we not of that's experienced, but so team launches what that a and front-end; more my not pain was as we the job the did not we so we in else on testing that. live, that and they going anticipate execution, it knuckle longer, cost my these frankly a all on was that all it it of know the were where from, training systems, easy knew balls but curved where sudden my disappointment we pilots it that of from, was coming good fly, painful we we lack a disappointment and live, seeing did, balls went amazing lack were of fast anticipating, was, time we more, everything an certainly were high so didn't to do it of came the put that expectation

I two continue the the all going Dri, what first can't second to the major leagues a major we Oil dots level at addressing how connect part, had the in talent was. playing but part remember we're are that think Oh, to upgrade you all, Well, need I certainly hitters. are we league you of it? can't we and

need her for out IT we in at with to the just side, side; position that We and going lunch expose was during who months to also we're we Dri Oil questions mean, asking level lunch XX her just dinner and took sure products growth is delivering opportunities is what it own weakness took we on does on and of starts that's someone IT new ago, folks occupying out but the then kind the the everybody live, she bringing understanding our takes in of was Susan's the at growth the I so because infrastructure. capable not IT that session, we've make and background, us got CFO to with address it and team in of know, so we've need And go you only to accounting yesterday the got to [indiscernible] a how exciting what at it.

XX% come as the doing we're SKUs put it our but visibility customers. going private up as Cat's need any lying is into warehousing, Pride actually in was haven't want scoopable we're that, having from we our And as I system existing speak; and up was customers lightweight more the we god because Mark going the frankly, in, we've with I we product, in our the lost critical are to out to; in year-over-year fulfillment customers, our we then getting to wish as rolling so have new distribution, we're continue mean to label XX% disappointment products; has so off be it's we quarter while still we put into alluded thank some -- and shelf, consumers and your quarter, demand our this disappointed the

some side, on on have we cat litter got human we've on So and winning strategies the and the health. the health, animal the side the [ph] strategies Ag, very both clearly winning beetus-bee

as to and to need people what the orders and meet sure call has that our we front resources So out truthful in we've they team, they the make sales got are playing been to support get your infinity to problem catch-up, it. those [ph] our need no is, problems these is good the I moving, But have, is there have worst not we've team, about doubt product because lying come you fast product you're width the orders, moving a that's to it, get what had that's worst products your [ph]. and do. trying it, get and so all product to pick is, between no is scenario sales, you're we're The meeting your is if is because and have and not rather moving, doubt you problem best we're But have. missing come angry we're at there to tell you'd

Operator

follow-up Ethan we question do from Starr. a have And Thank you.

Ethan Starr

fiscal address cost Dr.Green on a I you not? next How year on can can know the Light. don't or raise And Fresh Pride if you trucking see the the Cat's that [ph] issue? also have prices I & of jug new the you before

Daniel Jaffee

Good catch.

anticipation increases to raise XX% of prices even X% areas maybe we in the of what but we So freight first quarter of north experienced [ph] XX%, in well did XX some that. in was

into We supply tell be year, second on however, our price, then get on or you're got be our can't price. you of XX%, be consumer XX% the very this numbers, going and you're and got When XX%, in and their because raise where XX% in are round sure, you're the with up going that for going you've -- go go the don't XX%, a fill XX%, account XX% you rates solid meetings then them, XX% to fiscal price of at those even to well. top ahead at we've have the increases and their business that an filling to to raising ground to you're go out

has the retailers -- and prices, going nation-wide dry is this round of cat our raising anyone definitely supply an all be oil of who So systemic we issue, increase will issue, of prices just are retail experiencing fiscal this industry an second all but lack is raising is of been and not not their prices this product is shipping litter the year, the truckload demand. our competition -- up,

we sorts and will ability just year of to that you or noticing up, new with getting next all pop going are does jug jug next equity first bump be that. design fiscal or jug enhance thank leading so the advance tested this the was cost Lisa and but our look lagging of the fiscal we're much we new we we team we this you but packaging the bump, and her wanted for the year some out conjunction packaging, rightly that retail in will lagging So to marketing be And green early see will in will that of second jug just that the either prices green so at new behind green later green really putting brand be but bump. were our for [ph], that

there. and webcast other to over questions, questions type from their to to we'll did typing. switch let's than live webcast love we people take encourage I Okay, would do

you to have of here some to that deliver some So room will hand and want John but it and out got will you any and microphones question? we'll get up questions, we Let's we all if questions. have you have audience we open microphone. envelope the will your ask type John, get them we've if you a a

Unidentified Analyst

the and Thank you, what divisions congratulate I It's all they're Dan. different a presentation doing. great and

that helped really I you. it's in in Thank so with that's problems so a the I over a your but I'm that. that in similar selling I particularly you. is out question. the health traditional so product effectiveness disease, China's virus has correct, good annual not I've you're about is, for know maybe a had couple along that I efforts the business; as And think a follow-up not you're have and to it's attendance insights regarding pretty lines, And questions the this incredible one of doing going. of versus [indiscernible] is the an if to using my meeting seventh I what always African and pig related where antibiotics cost and selling recent -- excited think point got gained think, there? animal some applicable Number

Mark Lewry

at How dose recommended meet company mean $X and usage of not prime. the industry ton Xx, which cost producer. a favorable by extremely looks that's [ph] feed, metric last I depends country normal Xx antibiotic about I the spoken compared by week it's per that really about, with near uses to vary

used those we're going generic antibiotic of of If you producer, an metric of use per cost the $X.XX China that look at especially typical a types only ton, if to -- sometimes cost replace type one they antibiotics. of from a might not

and Varium operate there go their run much so using you into many products are typically a which the you it that's farm of them. developing put They only at antibiotic-free starts to antibiotics, countries. top case diseased heavily If and so could before [ph] an like or is harm NeoPrime poorly on is animal you

total new cost many prohibitive, find the antibiotics you of are compares alternatives antibiotics our have for the our are to and amount cases where big is using a that cost market of in we products for of enough such favorably large So plenty not people that amount the dose the products.

don't think will we all. at that impede growth So

bit XX,XXX virus all of to are use you more in are stopping it's slowed In how they're which adding business terms call because a process are their large that to to cost pigs any slaughter producer producers; XX, They a is -- XX to of infected. pigs of the the to and now pretty the of across trying calling percentage new now landfill beginning the they additives, they little per African the producers figure of XX,XXX, pigs. lot going large a that now, kind XX, swine how out China really heavily are going are XX,XXX, and and a just flu

impact, now right negative China. but not just sales it's So a disrupted there growth it our process in the slowing down having it's

Unidentified Analyst

green areas on using heavily have -- trafficked the personally, the with thought I'm the of program, there And so [ph] initially picture lot on think current and that videos is market what's you interesting XX being might advertising and are billboard if is appears I was considered sight doing think through for given My the think follow-up question that? Dan, I 'old that is; kind big there? to jugs along it. where be working was Good there. being for used you be already product donated a those other a I indicated as And that Interstate product' on consumers I Litter you're for this, the wondering if of product you that and Thanks. not

Daniel Jaffee

what the to why where don't [ph], handle from we first-run produce and coming kind runway is you actually litter product. can have Lea before have of we

Unidentified Company Representative

report, have still pick who litter just either if that plants litter obsolete freight able under we looking report at of obsolete, shelters it terms that so continues and if for for then run I running it's the months we we're third-party product, in etcetera. to we over packaging for our are at changes to all add up. based anything product, a of obsolete pay warehouses the shelters it to mean have be on our eligible So our can probably pellet up are whatever left we And receive do to over When X have efficiencies, and terms that pellet for picked inflow of donating donated providing coupons provide or not in obsolete or out delivered. product, are of

So things cost savings. good are looking in those terms of

Daniel Jaffee

been the good. from efficiency we're for valuable good warehouse is Yes, it's so own this been on taking manufacturing our of outside for up way, cleared warehouses, an because space either it's up either or a us space, lot on somewhere which and we've paying standpoint, space

communicating we I'm of certainly thousand not at per look at sure of we of moment, billboards part at and different it's all cost looked the ways sorts mix. billboards, at our and we look Regarding impression, to but

Unidentified Analyst

[Indiscernible].

Daniel Jaffee

What efficient per vehicles cost are are are price? thousand thousand more millions There the of cost per that our on impression.

questions? Okay, You We were wants one any there. who moved you over typed on, it? have audience, more

Unidentified Analyst

My anecdotally that it And flavors the and who something multi-cat Fund they the them uncentered have radio, probably Dog price more the the that be used a sometimes best, that have [ph] to all [indiscernible] when other highest whereas Oil is do of try, and [ph] of questions, wish couple I'm and suit double long is people priced find see lots me haircut. fundraising, should those the they to a the it's find and I passing preferred cat, and they [Indiscernible]. marketing first row what classical have are for type And first in in your to a if multi-cat which it's serious I local much it at were encourage to lots supermarkets about and the worth marketing supermarkets. the [indiscernible] with maybe but time questions, Dri local -- cats to can life, putting my difficult the XX-filler Oil have other and the won. hope Cat question about of I personally it's least times care Pride classical used ordered Dri of future, of and called at to condolence but Fund; suggestions to he give shareholder, and least good a one I consumes WFNP uncentered a [indiscernible]. Cat people of always in times in-stock. with one neighbors [ph]; father. worth highest of the even wearing as could and Chicago, or you acquisition my second trying the here is; friends want a trying a company [ph] and station announcing you radio it advertisement luck at have light it's

Daniel Jaffee

on Chewy, our the for manages items. are chewy.com all free, they Dave, and items on who first of you a first Well, deliver they one, business, those can have and get e-commerce those so

find it to So order to www.chewy.com be them and go to their item, if the you're neighbors tell home free. and can't can will delivered they for

Unidentified Analyst

the at a store. what prefer I neighbor grocery my old have grab fashioned, is to just they little think we

I'll bunch do instance, limited is this That's I what and which these sell. to of and you them buy then So a for coupons charge with them two year.

Daniel Jaffee

good. Okay,

Unidentified Analyst

products, Bayer and one, has as this over AG, exempted sell I'm to health and or care that's a [indiscernible] a products. wondering be Monsanto health your line investigate an if to [ph] States, from limited Wait concerning pet just we second decided them? it their call animal in the one Aspirin United which good fit and enquire took might Bayer animal It's The acquisition; animal

Daniel Jaffee

our on you would to [ph], Certainly I you. some file gave the extent booked information Thank it and it motion that with up. appreciate we me

Operator

a the be treat are only? to And to for Ethan, litter practices to added follow-up private cat the second marketing the in any label part, new adding a plans feelings litter the Litter label you'd program, quarter provide that two-fold. materials customers new private indicated be months? for in there upcoming from have there Good cat that Will new you We customer continue Last month.

Daniel Jaffee

and I Lisa first you however, the to and customers second guys lightweight, customers. the private Yes, can take label I'll new scoopable both, or part. and take existing continuing we're out mean new the with Leo, part either skills roll

So expand so the want light weight. well with to they moving presence [indiscernible] it's that their

certainly One, have we're PO Canadian a have So next week. Okay, are is customer, not maybe, and tell label and in I awaiting Ethan in in lightweight, -- take or orders both to was by Vice Marketing Canadian but one PO successful swing the that is [indiscernible]. out our real the the initial United in X through Canada the been ought rolling to be for first maybe started Canada of find January States. The happening to give that we Lisa it yet how the Mak, that they've President, out in who, will at yet; major consumer. so won't retailer seen it's we're a We'll [ph]? the it shipping and private go and who microphone, the the major upto earlier the

Lisa Mak

offices reaching So it have some to we do they to to ship can we start. to can about on eventually have of a actually database veterinarian out And your promotional Good. inception it's veterinarians, we like I at we also an it's them I about out rather have out there, Litter question and answer to the think that think because materials that think to with great veterinarians Thanks. that's a and reach great hand litter, for a out idea the to place reach so worried a can their point recommendation consumers idea, a a great expert making I

Daniel Jaffee

guys happy be season. and pooling too, all of Great Lisa, a The you I I mineral the just the that long-term and every been company, sisters you the a And we've excited go our you, rule a with, extremely have and you I are future for incredible increased up and who we our for long-term, started. our wish sort looking I'm you. very, we But trying have we if to typing to the all those sort I in of now I'll my that you're are going for investors impressed, you And I'm that's about phone, ownership, so close blessed questions, family maximize did of this in mineral. morning see, you. how thank the will happy wish see value long-term, the an season, holiday team audience to testament incredible very of wakes did don't of and holiday belief can my out I our multimedia and

thank you again we So will much see year. very and next you

Operator

Ladies and great disconnect. conclude may the for conference. you participating This gentlemen, in Everyone, all you a and program thank does today's day. have

Oil-Dri Corporation of America (ODC) 11 Dec 182019 Q1 Earnings call transcript