WD-40 Company reports developments for a global marketing organization that develops and sells maintenance, homecare and cleaning products for workshops, factories and homes. Its recurring updates center on WD-40 Multi-Use Product, WD-40 Specialist, 3-IN-ONE, GT85 and household brands such as Spot Shot, Lava, X-14, 2000 Flushes, no vac, Solvol and Carpet Fresh.
Company news commonly covers quarterly results, regional sales trends in the Americas, EIMEA and Asia-Pacific, distribution and e-commerce activity, product promotions, dividends, annual-meeting matters and board changes. Brand initiatives also include retail and entertainment collaborations tied to WD-40 products.
WD-40 Company (NASDAQ:WDFC) released its 2022 Environmental, Social and Governance (ESG) Report titled Building a Business for the Future. The report highlights the company’s commitment to addressing material issues identified through its ESG assessment, focusing on reducing environmental impact. CEO Steve Brass emphasized the company's dedication to finding solutions for global challenges. The report is available for download on the company’s website. In fiscal year 2022, WD-40 Company reported net sales of $518.8 million and operates in over 176 countries.
WD-40 Company (NASDAQ:WDFC) reported a 13% increase in fourth-quarter net sales, totaling $130.4 million, and a 6% increase in total annual sales of $518.8 million. Despite a 4% decrease in net income for the fiscal year, the company achieved a 77% increase in fourth-quarter net income at $14.8 million. Management forecasts net sales growth of 5-10% for fiscal year 2023, expecting total sales between $545 million and $570 million. However, gross margins fell to 49.1% for the year, impacted by inflation and currency challenges.
WD-40 Company (NASDAQ:WDFC) declared a quarterly dividend of $0.78 per share on October 11, 2022, payable on October 31, 2022, to shareholders of record by October 21, 2022.
In fiscal year 2021, the company reported net sales of $488.1 million and operates in over 176 countries.
WD-40 Company (NASDAQ:WDFC) has announced its fourth quarter and full fiscal year 2022 earnings conference call scheduled for October 19, 2022, at 2:00 p.m. PDT. Management will discuss financial results and business developments. The quarterly earnings press release will be available after market close on the same day. In fiscal year 2021, WD-40 reported net sales of $488.1 million. A live webcast of the event will be accessible through the Company's investor relations website, with an archive available for one year.
WD-40 Company (NASDAQ:WDFC) reported Q3 fiscal results, with total net sales of $123.7 million, a 9% decline year-over-year. Year-to-date sales rose 4% to $388.4 million. Net income fell 31% to $14.5 million, and diluted EPS dropped to $1.07 from $1.52. Gross margin decreased to 47.7% from 53.1%. Sales in EMEA and Asia-Pacific segments suffered due to currency impacts and COVID-19 lockdowns. The company projected FY 2022 sales growth of 6-9% and revised guidance for diluted EPS to $5.02-$5.10. A quarterly dividend of $0.78 will be paid on July 29.
WD-40 Company (NASDAQ: WDFC) announced the appointment of Sara Hyzer as vice president, finance, treasurer, and chief financial officer, effective November 1, 2022. Hyzer, previously vice president of global finance strategy, will succeed Jay Rembolt, who is retiring after a 14-year tenure. The transition includes close collaboration between Hyzer and Rembolt until his advisory role ends on January 6, 2023. Hyzer brings over 20 years of experience, primarily from PricewaterhouseCoopers, to oversee WD-40's financial operations, enhancing leadership during the company’s growth phase.
WD-40 Company (NASDAQ: WDFC) announced board changes, effective June 20, 2022, with Edward O. Magee, Jr. appointed as a director and member of the Audit and Finance Committees. Additionally, Cynthia B. Burks has been nominated for election at the 2022 annual meeting, filling a spot due to Garry Ridge's upcoming retirement in December 2022. Magee brings extensive experience in manufacturing and logistics, while Burks has a strong background in human resources and culture strategy.
WD-40 Company (NASDAQ: WDFC) declared a quarterly dividend of $0.78 per share, payable on July 29, 2022, to stockholders of record by July 15, 2022. The earnings conference call is scheduled for July 7, 2022, at 2:00 p.m. PDT, where management will discuss financial results and business developments. In fiscal year 2021, WD-40 reported net sales of $488.1 million. The company offers a range of brands, including WD-40 Multi-Use Product and 3-IN-ONE, operating in over 176 countries.
WD-40 Company (NASDAQ: WDFC) reported a 16% increase in net sales for Q2 2022, totaling $130.0 million. The diluted EPS reached $1.41, compared to $1.24 in the prior year. However, net income decreased by 7% year-to-date, amounting to $38.1 million. The gross margin fell to 50.4% from 55.4% due to inflationary pressures. The company revised its net income guidance down by 2% but maintained revenue growth expectations of 7-12% for the fiscal year.
WD-40 Company (NASDAQ: WDFC) has announced the retirement of CEO Garry Ridge, effective August 31, 2022, marking a significant leadership transition. Steve Brass, currently President and COO, will succeed him starting September 1, 2022. Brass, who has over 30 years with the company, brings extensive operational and global experience. Ridge stated this transition is timely for the company's continued growth. Additionally, Ridge will continue as chairman until December 13, 2022, after which he will hold the honorary title of Chairman Emeritus and serve as a strategic advisor until June 30, 2023.