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Nov 30, 2021
WD-40 Q1 2022 Earnings Report
WD-40 Company's first quarter results for fiscal year 2022 were reported, showing increased sales but decreased net income.
Key Takeaways
WD-40 Company reported an 8% increase in total net sales, reaching $134.7 million, but experienced a 21% decrease in net income, which fell to $18.6 million, with diluted earnings per share at $1.34, compared to $1.72 in the prior year fiscal quarter.
Total net sales increased by 8% to $134.7 million compared to the prior year fiscal quarter.
Net income decreased by 21% to $18.6 million compared to the prior year fiscal quarter.
Diluted earnings per share were $1.34, down from $1.72 in the prior year fiscal quarter.
Maintenance products sales grew by 10% compared to 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 issued updated guidance for fiscal year 2022, projecting net sales growth between 7 and 12 percent, with net sales expected to be between $522 million and $547 million, and diluted earnings per share expected to be between $5.24 and $5.38.
Positive Outlook
- Net sales growth is projected to be between 7 and 12 percent.
- Net sales are expected to be between $522 million and $547 million.
- Gross margin percentage for the full year is expected to be between 52 and 54 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 $5.24 and $5.38.
Challenges Ahead
- Guidance does not include any future acquisitions or divestitures.
- Guidance does not include the impact of fluctuating foreign currency exchange rates.
- Unanticipated inflationary headwinds may impact the Company’s financial results.
- Unforeseen events may further impact the Company’s financial results.
- Gross margin is deteriorating and causing disruptions to the supply chain.
Revenue & Expenses
Visualization of income flow from segment revenue to net income