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Oil-Dri Corp. of America profit misses consensus by 27.7% in fiscal Q1

Oil-Dri Corp. of America said its normalized net income for the fiscal first quarter ended Oct. 31 was 26 cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

EPS declined 26.9% year over year from 35 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.8 million, a decrease of 26.4% from $2.4 million in the prior-year period.

The normalized profit margin declined to 2.7% from 3.8% in the year-earlier period.

Total revenue climbed on an annual basis to $66.0 million from $63.5 million, and total operating expenses grew 6.2% year over year to $62.9 million from $59.2 million.

Reported net income decreased 26.4% on an annual basis to $2.1 million, or 30 cents per share, from $2.9 million, or 41 cents per share.