Loading...
•
May 31, 2022
WD-40 Q3 2022 Earnings Report
WD-40 Company's financial performance declined due to global disruptions and macroeconomic challenges
Key Takeaways
WD-40 Company reported a decrease in net sales, net income, and diluted earnings per share for the third quarter of fiscal year 2022, impacted by global disruptions and a challenging macroeconomic environment.
Total net sales decreased by 9 percent compared to the prior year fiscal quarter, totaling $123.7 million.
Net income decreased by 31 percent compared to the prior year fiscal quarter, amounting to $14.5 million.
Diluted earnings per share were $1.07, compared to $1.52 per share for the prior year fiscal quarter.
Gross margin was 47.7 percent, compared to 53.1 percent in the prior year fiscal quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company updated its guidance for fiscal year 2022 with net sales growth projected to be between 6 and 9 percent, and diluted earnings per share expected to be between $5.02 and $5.10.
Positive Outlook
- Net sales growth is projected to be between 6 and 9 percent.
- Net sales are expected to be between $519 million and $532 million.
- Gross margin percentage for the full year is expected to be around 50 percent.
- Advertising and promotion investments are projected to be between 5.0 and 5.5 percent of net sales.
- The provision for income tax is expected to be between 20 and 21 percent.
Challenges Ahead
- Net income is projected to be between $69.0 million and $70.1 million.
- Diluted earnings per share is expected to be between $5.02 and $5.10 based on an estimated 13.7 million weighted average shares outstanding.
- Guidance does not include any future acquisitions or divestitures or the impact of fluctuating foreign currency exchange rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...