Wd 40 Co Stock Price, News & Analysis

WD-40 Company (NASDAQ:WDFC) reported mixed financial results for the second fiscal quarter ending February 28, 2023. Total net sales slightly increased to $130.2 million, a marginal rise from $130.0 million year-over-year. However, year-to-date sales decreased by 4% to $255.1 million. Net income fell 15% to $16.5 million, and diluted EPS declined to $1.21 from $1.41 previously. The Americas segment saw 15% sales growth, while EMEA and Asia-Pacific reported declines. Management updated fiscal year 2023 guidance, projecting net sales growth between 3.5% and 7.5% and diluted EPS between $4.80 and $5.00. Challenges include foreign currency exchange impacts and rising expenses, but gross margin improved to 50.8%.

WD-40 Company has introduced its latest product, the WD-40 Specialist® Degreaser and Cleaner EZ-Pods. This new offering features a concentrated, industrial-strength formula designed for customizable degreasing in various professional settings including factories and auto shops. Users can simply dissolve the pod in water for ready-to-use cleaning power. The EZ-Pods are non-toxic, VOC compliant, and suitable for sensitive surfaces. Available now on Amazon and additional retailers soon, these pods aim to streamline degreasing tasks and save users time and money.

WD-40 Company (NASDAQ: WDFC) announced a quarterly dividend of $0.83 per share, payable on April 28, 2023 to stockholders of record by April 14, 2023. This decision highlights the company's commitment to returning value to its shareholders. Additionally, the company will hold its second quarter 2023 earnings conference call on April 6, 2023, at 2:00 p.m. PDT, to discuss financial results and business updates, with a press release to follow after market close on the same day. The company's net sales were reported at $518.8 million for fiscal year 2022.

WD-40 Company (NASDAQ:WDFC) reported a 7% decline in net sales for Q1, totaling $124.9 million. Net income fell 25% to $14 million, with diluted EPS at $1.02, down from $1.34. Despite market challenges, gross margin improved by 400 basis points to 51.4%. The company reiterated its fiscal year 2023 guidance, forecasting net sales growth of 5-10% and net income between $69-71 million. Sales were impacted by foreign currency fluctuations and a suspension of sales in Russia.

WD-40 Company (NASDAQ:WDFC) declared a quarterly dividend of $0.83 per share on December 13, 2022, marking a 6% increase from the previous quarter. This dividend is payable on January 31, 2023, to stockholders of record by January 13, 2023. Additionally, the company will hold its first quarter 2023 earnings conference call on January 9, 2023, at 2:00 p.m. PST, where financial results and business developments will be discussed, with the earnings press release published after market close on the same day.

WD-40 Company (NASDAQ:WDFC) announced the appointment of Gregory A. Sandfort as non-executive chairman of the board, replacing Garry O. Ridge after his retirement. Sandfort has been on the board since 2011 and served as lead independent director since 2020. Additionally, Cynthia B. Burks has joined the board, contributing her expertise in human capital strategy and organizational design. The board now consists of 12 directors and aims to enhance governance with these strategic changes.

WD-40 Company (NASDAQ:WDFC) announced its virtual annual meeting of stockholders on December 13, 2022, at 10:00 a.m. PST. The meeting aims to increase accessibility, allowing stockholders to participate remotely without a physical venue. Eligible stockholders as of October 17, 2022 can vote and ask questions during the event. A webcast of the meeting will be archived for a year. In fiscal year 2022, WD-40 Company reported $518.8 million in net sales, with products available in over 176 countries.