WD-40 Q3 2020 Earnings Report
Key Takeaways
WD-40 Company's Q3 2020 results were impacted by the COVID-19 pandemic, leading to a 14% decrease in net sales and a 20% decrease in net income compared to the prior year. Diluted EPS decreased to $1.06 from $1.30 in the prior year fiscal quarter. Despite these challenges, the company adapted to the situation and maintained its performance.
Total net sales for the third quarter decreased by 14% to $98.2 million due to COVID-19 disruptions.
Net income for the third quarter was $14.5 million, a 20% decrease compared to the prior year.
Diluted earnings per share were $1.06, down from $1.30 in the prior year fiscal quarter.
Gross margin was 54.0% compared to 54.5% in the prior year fiscal quarter.
WD-40
WD-40
WD-40 Revenue by Segment
WD-40 Revenue by Geographic Location
Forward Guidance
The global health crisis is not over yet, the company maneuvered through the immediate crisis very well. The company has always had a very clear strategy with very clear targets enabled by an enviable culture. What this crisis has required the company to do is pause, reset, and become even more laser-focused on how the company will achieve its growth aspirations
Revenue & Expenses
Visualization of income flow from segment revenue to net income