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Aug 31, 2021
WD-40 Q4 2021 Earnings Report
WD-40 Company reported a 3% increase in net sales for the fourth quarter, but a 57% decrease in net income compared to the prior year fiscal quarter.
Key Takeaways
WD-40 Company reported fourth quarter net sales of $115.2 million, a 3% increase compared to the prior year fiscal quarter. Net income for the fourth quarter was $8.4 million, a 57% decrease compared to the prior year fiscal quarter. Diluted earnings per share were $0.61 in the fourth quarter, compared to $1.42 per share for the prior year fiscal quarter.
Total net sales for the fourth quarter were $115.2 million, an increase of 3 percent compared to the prior year fiscal quarter.
Net income for the fourth quarter was $8.4 million, a decrease of 57 percent compared to the prior year fiscal quarter.
Diluted earnings per share were $0.61 in the fourth quarter, compared to $1.42 per share for the prior year fiscal quarter.
Gross margin was 51.2 percent in the fourth quarter compared to 56.3 percent in the prior year fiscal quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company issued the following guidance for fiscal year 2022: Net sales growth is projected to be between 7 and 11 percent with net sales expected to be between $522 million and $542 million. Gross margin percentage for the full year is expected to be between 53 and 54 percent. Advertising and promotion investments are projected to be between 5.5 and 6.0 percent of net sales. The provision for income tax is expected to be between 21 and 22 percent. Net income is projected to be between $71.7 million and $73.6 million. Diluted earnings per share is expected to be between $5.24 and $5.38 based on an estimated 13.7 million weighted average shares outstanding.
Positive Outlook
- Net sales growth is projected to be between 7 and 11 percent.
- Net sales expected to be between $522 million and $542 million.
- Gross margin percentage for the full year is expected to be between 53 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.
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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