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Aug 31, 2023
WD-40 Q4 2023 Earnings Report
WD-40 Company reported an 8 percent increase in total net sales for the fourth quarter, reaching $140.5 million, and net income increased by 12 percent compared to the prior year fiscal quarter.
Key Takeaways
WD-40 Company reported financial results for the fourth quarter and fiscal year ended August 31, 2023. Total net sales for the fourth quarter were $140.5 million, an increase of 8 percent compared to the prior year fiscal quarter. Net income for the fourth quarter was $16.6 million, an increase of 12 percent compared to the prior year fiscal quarter. Diluted earnings per share were $1.21 in the fourth quarter compared to $1.08 in the prior year fiscal quarter.
Total net sales for the fourth quarter were $140.5 million, an increase of 8 percent compared to the prior year fiscal quarter.
Net income for the fourth quarter was $16.6 million, an increase of 12 percent compared to the prior year fiscal quarter.
Diluted earnings per share were $1.21 in the fourth quarter compared to $1.08 in the prior year fiscal quarter.
Gross margin was 51.4 percent in the fourth quarter compared to 47.4 percent in the prior year fiscal quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company is providing guidance for fiscal year 2024 as follows: Net sales growth is projected to be between 6 and 12 percent with net sales expected to be between $570 million and $600 million on a non-GAAP constant currency basis. Gross margin for the full year is expected to be between 51 and 53 percent. Advertising and promotion investments are projected to be between 5 and 6 percent of net sales. The provision for income tax is expected to be between 24 and 25 percent. Net income is projected to be between $65 million and $70 million. Diluted earnings per share is expected to be between $4.78 and $5.15 based on an estimated 13.6 million weighted average shares outstanding.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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