Loading...
•
Nov 30, 2019
WD-40 Q1 2020 Earnings Report
WD-40 Company's first quarter 2020 financial results were reported, with management reiterating the previously issued full fiscal year 2020 earnings guidance.
Key Takeaways
WD-40 Company reported a decrease in net sales by 3% to $98.6 million compared to the prior year fiscal quarter. Net income decreased by 8% to $12.2 million, and diluted earnings per share were $0.88 compared to $0.95 in the prior year fiscal quarter.
Total net sales for the first quarter were $98.6 million, a decrease of 3 percent compared to the prior year fiscal quarter.
Net income for the first quarter was $12.2 million, a decrease of 8 percent from the prior year fiscal quarter.
Diluted earnings per share were $0.88 compared to $0.95 in the prior year fiscal quarter.
Gross margin percentage was 54.3 percent compared to 55.1 percent in the prior year fiscal quarter.
WD-40
WD-40
WD-40 Revenue by Segment
WD-40 Revenue by Geographic Location
Revenue by Segment
Americas Revenue
CapyFin.comEIMEA Revenue
CapyFin.comAsia-Pacific Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEIMEA Revenue
CapyFin.comAsia-Pacific Revenue
CapyFin.com Forward Guidance
The company reiterates the following guidance for fiscal year 2020: Net sales growth is projected to be between 3 and 7 percent with net sales expected to be between $436 million and $453 million. Diluted earnings per share is expected to be between $4.74 and $4.83 based on an estimated 13.7 million weighted average shares outstanding.
Positive Outlook
- Net sales growth is projected to be between 3 and 7 percent.
- Net sales expected to be between $436 million and $453 million.
- Gross margin percentage for the full year is expected to be between 54 and 55 percent.
- Advertising and promotion investments are projected to be between 5.5 and 6.0 percent of net sales.
- Diluted earnings per share is expected to be between $4.74 and $4.83.
Challenges Ahead
- Fluctuating crude oil prices may have an impact on the company’s fiscal year 2020 guidance.
- Foreign currency exchange rates may have an impact on the company’s fiscal year 2020 guidance.
- Guidance does not include any future acquisitions.
- Guidance does not include any future divestitures.
- Revenue softness experienced in the first quarter was primarily driven by the timing of customer orders.
Revenue & Expenses
Visualization of income flow from segment revenue to net income