Oil-Dri Corporation of America (NYSE:ODC) Q4 2023 Earnings Call Transcript

Aaron Christiansen: Yeah. Dan already answered the key message, which is a resounding yes, John. But it’s also already planned for. Dan alluded to it earlier and I alluded to it earlier, we are already in the midst of a multi-year cycle of a higher level of capital spending than historical. It is — we already have a very intelligently built five to 10-year plan that plans for it. We’re looking for intelligent ways to overlap business continuity investments, growth investments and savings investments. So yes, and already well planned for and aligned on organizationally, John.

Dan Jaffee: And I would add, I just want to thank our customers because we’ve had to go out to them and say, look, this depreciation that we’re charging is based on historic costs. And as we’re replacing these assets, it’s costing twice easily. Twice as much to replace these assets that were put into service 15 and 20 years ago. And they want us to be healthy, they want us to be able to replace our capital so that we can continue to supply them the quality and quantity that they require and value. And they’ve received the message very well, and we very much appreciate it. So my customers are listening, if our customers are listening, thank you very much. Obviously, we’re all in this together. We’re out of time. I’m assuming everyone is happy with the quarter, happy with the fiscal year.

I know the team and I are, and we very much look forward to talking to you after our first quarter, which ends October 31, and we’ll be at our next tele campus will be the first quarter of F ’24. So until then, be safe, be healthy, and thank you very much for your support.

Operator: This concludes today’s conference call. Thank you for participating.