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Aug 31, 2024
WD-40 Q4 2024 Earnings Report
WD-40 Company reported an 11 percent increase in global net sales for the fourth quarter compared to the prior year.
Key Takeaways
WD-40 Company reported an 11% increase in net sales to $156.0 million for the fourth quarter. Diluted earnings per share were $1.23, compared to $1.21 in the prior year fiscal quarter. The company's gross margin increased to 54.1 percent, while net income rose to $16.8 million.
Total net sales increased by 11% to $156.0 million compared to the prior year fiscal quarter.
Gross margin improved to 54.1% compared to 51.4% in the prior year fiscal quarter.
Net income saw a 1% increase, reaching $16.8 million.
Diluted earnings per share increased to $1.23 compared to $1.21 in the prior year fiscal quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company is providing the following fiscal year guidance on a pro forma basis, excluding the full fiscal year financial impact of the homecare and cleaning product portfolios the Company expects to divest in fiscal year 2025:
Positive Outlook
- Net sales growth from the 2024 pro forma results is projected to be between 6 and 11 percent with net sales expected to be between $600 million and $630 million on a non-GAAP constant currency basis.
- Gross margin for the full year is expected to be between 54 and 55 percent.
- Advertising and promotion investments are projected to be around 6 percent of net sales.
- Operating income is projected to be between $95 million and $100 million. This range reflects anticipated growth of between 6 to 12 percent compared to 2024 pro forma results.
- Diluted earnings per share is expected to be between $5.20 and $5.45 based on an estimated 13.5 million weighted average shares outstanding.
Challenges Ahead
- The provision for income tax is expected to be around 24 percent.
- Unanticipated inflationary headwinds may affect the Company’s financial results.
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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