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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.
Revenue by Segment
Revenue by Geographic Location
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.
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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