Financial Performance - Q4 FY22 - Net sales increased by 13% to $130.4 million compared to $115.2 million in Q4 FY21[23, 24] - Foreign currency exchange rates unfavorably impacted net sales by approximately $6.2 million[24] - Net income increased by 76% to $14.8 million compared to $8.4 million in Q4 FY21[24] - EPS (Diluted) increased by 77% to $1.08 compared to $0.61 in Q4 FY21[24] - Gross margin decreased by 380 basis points to 47.4% compared to 51.2% in Q4 FY21, primarily due to higher specialty chemical costs and aerosol can costs, partially offset by price increases[24, 72, 73] Financial Performance - FY22 - Net sales increased by 6% to $518.8 million compared to $488.1 million in FY21[43, 44] - Foreign currency exchange rates unfavorably impacted net sales by approximately $11.6 million[44] - Net income decreased by 4% to $67.3 million compared to $70.2 million in FY21[43, 44] - EPS (Diluted) decreased by 4% to $4.90 compared to $5.09 in FY21[43, 44] - Gross margin decreased by 490 basis points to 49.1% compared to 54.0% in FY21[43, 44] Segment Performance - Q4 FY22 - Americas segment sales increased by 25%, making up 52% of global sales, with maintenance product sales up 30%[35, 36] - EMEA segment sales decreased by 3%, making up 34% of global sales, but increased by 10% in constant currency (GBP)[37, 38] - Asia-Pacific segment sales increased by 18%, making up 14% of global sales, with maintenance product sales up 24%[40, 41] Strategic Initiatives and Future Outlook - The company aims to grow WD-40 Multi-Use Product to approximately $525 million in net sales by 2025[12] - The company aims to grow WD-40 Specialist to approximately $125 million in net sales by 2025[13] - The company anticipates revenue target of $650 million – $700 million by 2025[14] - Fiscal Year 2023 Guidance: Net sales are expected to be between $545 million and $570 million, representing a growth of 5% to 10%[79]

WD-40 Company (NASDAQ:WDFC) Q4 2022 Earnings Conference Call October 19, 2022 5:00 PM ET Company Participants Wendy Kelley - Vice President, Stakeholder and Investor Engagement Garry Ridge - Chairman Steve Brass - President and CEO Jay Rembolt - Vice President and CFO Sara Hyzer - Vice President, Global Finance Strategy and Incoming CFO Conference Call Participants Linda Bolton Weiser - Davidson Daniel Rizzo - Jefferies Operator Ladies and gentlemen, thank you for standing by. Good day. And welcome to the W ...

WD-4U | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------|-------------------|-------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Q3 FY22 | | | | | | | | | | | July 7, 2022 | EARNINGS RESULTS | | | | | | | | | | | | | | | | | | | | | | Forward-Looking Statements Historical financial and operating data in this presentation reflect the consolidated results of WD-40 Company, its subs ...

WD-40 Company (NASDAQ:WDFC) Q3 2022 Earnings Conference Call July 7, 2022 5:00 PM ET Company Participants Wendy Kelley - Vice President, Stakeholder and Investor Engagement Garry Ridge - Chairman and CEO Jay Rembolt - Vice President and CFO Steve Brass - President, Chief Operating Officer and Incoming CEO Sara Hyzer - Vice President, Global Finance Strategy and Incoming CFO Conference Call Participants Daniel Rizzo - Jefferies Linda Bolton Weiser - D.A. Davidson Operator Ladies and gentlemen, thank you for ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 31, 2022 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 000-06936 Commission Company Name: WD 40 CO WD-40 COMPANY (Exact name of registrant as specified in its charter) Delaware ...

WD-40 Company (NASDAQ:WDFC) Q2 2022 Earnings Conference Call April 7, 2022 5:00 PM ET Company Participants Wendy Kelley - Investor Relations Garry Ridge - Chairman and Chief Executive Officer Jay Rembolt - Vice President and Chief Financial Officer Steve Brass - President, Chief Operating Officer and Incoming Chief Executive Officer Conference Call Participants Daniel Rizzo - Jefferies Linda Bolton Weiser - D.A. Davidson Operator Ladies and gentlemen, thank you for standing by. Good day and welcome to the W ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 2022 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 000-06936 Commission Company Name: WD 40 CO WD-40 COMPANY (Exact name of registrant as specified in its charter) Dela ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------|---------|----------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Q1 FY22 | | | | | | | | | January 6, 2022 | RESULTS | EARNINGS | | | | | | | | | | | | | | | | | Forward-Looking Statements Historical financial and operating data in this presentation reflect the consolidated results of WD-40 Company, its subsidiaries and its legal entities. WD-40 Company markets main ...

Financial Data and Key Metrics Changes - The company reported net sales of $134.7 million for Q1 FY2022, an increase of 8% compared to the previous year [7] - Gross margin for Q1 was 51%, reflecting significant cost inflation, leading to a net income of $18.6 million, down 21% from $23.6 million in the same quarter last year [8][66] - Gross margin declined to 50.8% from 56.4% year-over-year, a decrease of 560 basis points [54] Business Line Data and Key Metrics Changes - Sales of WD-40 Multi-Use Product increased 14% globally to $107.1 million [18] - Sales of WD-40 Specialist decreased 5% globally to $12.5 million [20] - Sales of products under the homecare and cleaning initiative increased 12% globally to $15.1 million [22] Market Data and Key Metrics Changes - In the Americas, net sales increased 4% to $56.3 million, with a 42% increase in Latin America [27] - EMEA net sales rose 5% to $57.5 million, with a constant currency increase of 1% [31] - Asia Pacific net sales surged 54% to $20.9 million, with China seeing a 69% increase [37] Company Strategy and Development Direction - The company aims to drive net sales to between $650 million and $700 million by the end of FY2025, following a 55/30/25 business model [10][52] - Strategic initiatives include building a future-ready business, operational excellence, and expanding the WD-40 Multi-Use Product line [9][14][17] - The company plans to double the number of third-party manufacturers in the U.S. to enhance supply chain resilience [16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a volatile and challenging environment, with expectations of continued cost headwinds [60] - The company anticipates net sales growth of 7% to 12% for FY2022, with gross margin expected between 52% and 54% [71] - Management expressed confidence in restoring gross margins to historic levels through planned price increases and operational improvements [61] Other Important Information - The company increased its quarterly cash dividend by over 8% to $0.78 per share [68] - A new $75 million share repurchase plan was approved, with 32,000 shares repurchased at a cost of approximately $7.4 million [69] Q&A Session Summary Question: Were sales losses due to supply chain constraints deferred or permanent? - Management indicated that losing a sale typically means it is lost, but emphasized that 80% of revenue came from core products, which were up 14% [79][80] Question: Was there a pull forward in sales in China due to the upcoming Chinese New Year? - Management stated that there was no material pull forward expected, and they anticipate a solid year in China [81] Question: What is the current percentage of Smart Straw sales? - Current sales are in the mid-40s percentage, with expectations to approach 50% for the year [82] Question: How does the company raise awareness in key markets? - The company utilizes sampling programs and expands distribution to increase product availability and awareness [84] Question: What is the outlook for gross margin recovery? - Management expects a potential slight uptick in gross margin in Q2, but full recovery may take longer [96] Question: Why are there supply chain issues specifically with WD-40 Specialist? - Management prioritized core products over Specialist due to supply constraints, but is working to recover and expand capacity [99] Question: What is the expected A&P spending for the year? - Management anticipates that A&P spending will align with the projected range for the year, despite some timing issues [102]

[PART I — FINANCIAL INFORMATION](index=2&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) This section presents the unaudited financial statements, management's analysis, market risk, and internal controls for the quarter [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Unaudited Q1 FY2022 financials report 8% net sales growth, but net income decreased 21% to $18.6 million, with negative operating cash flow [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet reflects a decrease in total assets and cash, offset by an increase in inventories Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Nov 30, 2021 | Aug 31, 2021 | Change | | :--- | :--- | :--- | :--- | | **Total Assets** | **$421,439** | **$430,203** | **($8,764)** | | Cash and cash equivalents | $59,519 | $85,961 | ($26,442) | | Inventories | $67,875 | $55,752 | $12,123 | | **Total Liabilities** | **$223,041** | **$229,821** | **($6,780)** | | Long-term borrowings | $112,729 | $114,940 | ($2,211) | | **Total Shareholders' Equity** | **$198,398** | **$200,382** | **($1,984)** | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The statement of operations shows an 8% increase in net sales but a 21% decrease in net income and diluted EPS Statement of Operations Summary (in thousands, except per share amounts) | Metric | Q1 FY2022 (ended Nov 30, 2021) | Q1 FY2021 (ended Nov 30, 2020) | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $134,746 | $124,559 | 8.2% | | Gross Profit | $68,470 | $70,246 | -2.5% | | *Gross Margin* | *50.8%* | *56.4%* | *-5.6 pts* | | Income from Operations | $24,060 | $28,392 | -15.3% | | Net Income | $18,555 | $23,623 | -21.4% | | Diluted EPS | $1.34 | $1.72 | -22.1% | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash flow from operations turned negative, primarily due to inventory build-up and increased financing activities Cash Flow Summary (in thousands) | Activity | Three Months Ended Nov 30, 2021 | Three Months Ended Nov 30, 2020 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | ($947) | $23,921 | | Net cash used in investing activities | ($2,362) | ($3,670) | | Net cash used in financing activities | ($21,937) | ($11,089) | | **Net (decrease) increase in cash** | **($26,442)** | **$9,382** | - The significant decrease in operating cash flow was primarily due to a **$13.1 million increase in inventories** and a **$7.3 million decrease in accrued payroll and related expenses**[22](index=22&type=chunk) - The increase in cash used for financing activities was driven by **$7.4 million in treasury stock purchases**, which did not occur in the prior-year period[22](index=22&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Key notes detail revenue composition, share repurchase, income taxes, segment performance, and a subsequent dividend increase - **Revenue:** Total net sales grew **8% YoY**. Maintenance products sales increased **10% to $126.0 million**, while Homecare and cleaning products (HCCP) sales decreased **15% to $8.7 million**[56](index=56&type=chunk) - **Share Repurchase:** A new plan authorized **$75.0 million** in repurchases through August 31, 2023, with **32,000 shares repurchased for $7.4 million** in November 2021[54](index=54&type=chunk) - **Income Taxes:** The effective tax rate for the quarter was **19.8%**, up from **15.7%** in the prior-year period, due to increased nondeductible compensation expenses[71](index=71&type=chunk) - **Segments:** Sales grew across all geographic segments (Americas +4%, EMEA +5%, Asia-Pacific +34%), but operating income fell in Americas (-18%) and EMEA (-20%), while increasing significantly in Asia-Pacific (+44%)[75](index=75&type=chunk) - **Subsequent Event:** The Board approved an **8% increase in the quarterly cash dividend**, from **$0.72 to $0.78 per share**, on December 13, 2021[77](index=77&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses 8% net sales growth, but profitability declined due to supply chain issues and inflation, leading to a 21% net income decrease [Overview](index=19&type=section&id=Overview) The overview highlights 8% net sales growth, significant gross margin decline, and a 21% net income drop, impacted by supply chain issues and inflation - Consolidated net sales increased by **8% to $134.7 million**; on a constant currency basis, sales would have increased by **5%**[90](index=90&type=chunk) - Gross margin decreased significantly to **50.8%** from **56.4%** in the prior year, primarily due to increased costs from global supply chain challenges and inflation[90](index=90&type=chunk) - Consolidated net income fell **21% to $18.6 million**, and diluted EPS was **$1.34**, down from **$1.72** in the prior year period[90](index=90&type=chunk) - The COVID-19 pandemic caused mixed effects, increasing demand but also leading to significant supply chain disruptions, material shortages, and increased costs[88](index=88&type=chunk)[91](index=91&type=chunk) [Results of Operations](index=22&type=section&id=Results%20of%20Operations) Results of operations show varied sales growth across segments, led by Asia-Pacific, and a significant gross margin decline due to rising costs Net Sales by Segment (in thousands) | Segment | Q1 FY2022 | Q1 FY2021 | % Change | | :--- | :--- | :--- | :--- | | Americas | $56,288 | $54,188 | 4% | | EMEA | $57,555 | $54,749 | 5% | | Asia-Pacific | $20,903 | $15,622 | 34% | | **Total** | **$134,746** | **$124,559** | **8%** | - **Americas:** Sales grew **4%**, driven by a **41% increase in Latin America** due to price increase pull-forward and momentum in Mexico, partially offset by a **1% sales decrease in the U.S.** caused by supply chain constraints impacting product availability[100](index=100&type=chunk) - **EMEA:** Sales grew **5%** (**1% in constant currency**), led by distributor markets, which increased **9%**, particularly in Poland, Russia, and India[104](index=104&type=chunk)[105](index=105&type=chunk) - **Asia-Pacific:** Sales surged **34%** (**31% in constant currency**), driven by a **69% increase in China** due to promotions and price increase pull-forward and a **36% increase in Asia distributor markets** as COVID-19 lockdown measures eased[107](index=107&type=chunk) - Gross margin fell by **560 basis points**, primarily due to higher costs of specialty chemicals (-390 bps), increased warehousing and freight costs (-140 bps), and higher filling fees (-70 bps), partially offset by sales price increases (+120 bps)[109](index=109&type=chunk)[112](index=112&type=chunk) [Performance Measures and Non-GAAP Reconciliations](index=30&type=section&id=Performance%20Measures%20and%20Non-GAAP%20Reconciliations) This section presents the company's performance against its 55/30/25 business model targets, showing results below long-term goals 55/30/25 Business Model Performance | Performance Measure | Q1 FY2022 Result | Q1 FY2021 Result | Long-Term Target | | :--- | :--- | :--- | :--- | | Gross Margin (GAAP) | 51% | 56% | ≥ 55% | | Cost of Doing Business (Non-GAAP) | 32% | 32% | 30% | | EBITDA % of Net Sales (Non-GAAP) | 19% | 24% | > 25% | - The company's performance for the quarter was below its long-term targets for Gross Margin and EBITDA, reflecting significant cost pressures[131](index=131&type=chunk)[132](index=132&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity and capital resources, supported by cash and credit, despite negative operating cash flow and a new share buy-back plan - The company's financial condition and liquidity remain strong, with principal sources being cash on hand, cash from operations, and an available revolving credit facility[135](index=135&type=chunk)[136](index=136&type=chunk) - Net cash used in operations was **$0.9 million**, a significant decrease from **$23.9 million provided in the prior year**, primarily due to a deliberate increase in inventory to manage supply chain challenges[135](index=135&type=chunk)[141](index=141&type=chunk) - As of November 30, 2021, the company was in compliance with all debt covenants, including a consolidated leverage ratio and an interest coverage ratio[137](index=137&type=chunk)[52](index=52&type=chunk) - A new share buy-back plan was approved on October 12, 2021, authorizing the acquisition of up to **$75.0 million in shares** through August 31, 2023[139](index=139&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section incorporates market risk disclosures from the Annual Report on Form 10-K, confirming no material changes during the quarter - The company refers to its most recent Form 10-K for disclosures regarding market risk, indicating no material changes during the quarter[158](index=158&type=chunk) [Item 4. Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of the end of the period[159](index=159&type=chunk) - There were no changes in internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[160](index=160&type=chunk) [PART II — OTHER INFORMATION](index=35&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, unregistered sales of equity securities, and a list of exhibits [Item 1. Legal Proceedings](index=35&type=section&id=Item%201.%20Legal%20Proceedings) Legal proceedings information is incorporated by reference, noting the dismissal of the Jakarta Litigation claim with an appeal pending - The report incorporates information on legal proceedings by reference to Note 11 of the financial statements[162](index=162&type=chunk) - The Jakarta Litigation claim for over **$25.0 million** against the company was dismissed, though an appeal is pending, with an unfavorable outcome deemed remote[63](index=63&type=chunk)[65](index=65&type=chunk) [Item 1A. Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K were identified during the quarter - The company states that there have been no material changes in its risk factors from those disclosed in its Annual Report on Form 10-K for the fiscal year ended August 31, 2021[163](index=163&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) A new share buy-back plan authorized $75.0 million in repurchases, with 32,000 shares bought for $7.4 million in November 2021 Share Repurchases in Q1 FY2022 | Period | Total Shares Purchased | Average Price Paid Per Share | Total Cost (approx.) | Max Value Remaining Under Plan | | :--- | :--- | :--- | :--- | :--- | | Nov 1 - Nov 30, 2021 | 32,000 | $230.79 | $7.4 million | $67,614,176 | [Item 6. Exhibits](index=36&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including corporate governance documents, a Libor Transition Agreement, and financial statements in iXBRL format - The exhibits filed with the report include corporate governance documents, a Libor Transition Agreement, certifications required by the Sarbanes-Oxley Act, and the financial statements in iXBRL format[167](index=167&type=chunk)