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Feb 28, 2021
WD-40 Q2 2021 Earnings Report
WD-40's second quarter earnings increased compared to the prior year fiscal quarter.
Key Takeaways
WD-40 Company reported a 12% increase in net sales for the second quarter compared to the prior year, reaching $111.9 million. Diluted earnings per share were $1.24, up from $1.04 in the prior year fiscal quarter. Net income increased by 20% to $17.2 million.
Total net sales for the second quarter increased by 12% compared to the prior year fiscal quarter.
Net income for the second quarter increased by 20% compared to the prior year fiscal quarter.
Diluted earnings per share were $1.24 in the second quarter, compared to $1.04 per share for the prior year fiscal quarter.
Gross margin was 55.4 percent in the second quarter compared to 53.6 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
WD-40 Company expects net sales to be in a range of between $445 million to $475 million for the full fiscal year. This upward revision is driven primarily by favorable changes in foreign currency exchange rates.
Positive Outlook
- Expects net sales between $445 million and $475 million.
- Favorable changes in foreign currency exchange rates.
- High demand for maintenance products.
- Improved market conditions due to reduction of COVID-19 lockdown measures in many markets.
- Increased sales through the ecommerce channel.
Challenges Ahead
- Pandemic has caused some disruptions and constraints to the supply chain.
- Supply chain challenges primarily in the Americas.
- Impacted ability to meet the increased end user demand in the United States.
- Shipping container shortages in the Asia region.
- Marketing distributors are continuing to adjust to more normalized inventory levels.
Revenue & Expenses
Visualization of income flow from segment revenue to net income