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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.
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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