Sales Performance - Global net sales grew 9% to $153.5 million in Q1 2025 compared to the prior year fiscal quarter[5] - Total maintenance product sales increased 10% to $145.5 million, representing 95% of total net sales[5][13] - EIMEA segment net sales increased 18% to $57.5 million, driven by 21% growth in WD-40 Multi-Use Product sales[6][10] - Americas segment net sales grew 8% to $69.4 million, with WD-40 Multi-Use Product sales up 9%[6][10] - Asia-Pacific segment net sales decreased 4% to $26.6 million, primarily due to a 6% decline in WD-40 Multi-Use Product sales[6][10] - Net sales increased to $153.5 million in Q3 2024, up 9.3% from $140.4 million in Q3 2023[29] Profitability - Gross margin improved to 54.8%, up 100 basis points from the prior year quarter[5][14] - Net income increased 8% to $18.9 million, with diluted EPS up 9% to $1.39[5] - Gross profit rose to $84.1 million in Q3 2024, an 11.3% increase from $75.6 million in Q3 2023[29] - Net income grew to $18.9 million in Q3 2024, up 8.3% from $17.5 million in Q3 2023[29] Financial Position - Cash and cash equivalents increased to $54.9 million as of November 30, 2024, up 17.6% from $46.7 million as of August 31, 2024[27] - Total assets decreased slightly to $447.3 million as of November 30, 2024, down 0.4% from $449.0 million as of August 31, 2024[27] - Total liabilities increased to $221.0 million as of November 30, 2024, up 1.2% from $218.5 million as of August 31, 2024[27] - Inventory levels decreased to $74.9 million as of November 30, 2024, down 5.3% from $79.1 million as of August 31, 2024[27] - Accounts receivable decreased to $111.4 million as of November 30, 2024, down 5.2% from $117.5 million as of August 31, 2024[27] - Short-term borrowings increased to $23.4 million as of November 30, 2024, up 170.5% from $8.7 million as of August 31, 2024[27] Expenses and Investments - Advertising and sales promotion expenses rose 20% to $8.4 million, representing 5.5% of total net sales[5] - The company repurchased 13,750 shares at a total cost of $3.6 million under its $50.0 million share repurchase plan[13] Guidance and Outlook - Fiscal year 2025 guidance projects net sales growth of 6-11% to $600-630 million and diluted EPS of $5.20-$5.45[13][14] Cash Flow - Operating cash flow decreased to $14.9 million in Q3 2024, down 44.5% from $26.9 million in Q3 2023[31]

Company Performance - WD-40 Company reported Q4 revenue of $156 million, an 11% increase YoY, surpassing consensus estimates by 450 basis points [1] - Sales in the Americas grew by 6%, APAC by 21%, and emerging markets by 16%, reflecting strong global performance [1] - Maintenance Products segment grew by 12%, driven by a 13% increase in WD-40 Multi-Use product sales, while Harvest Brands declined by 2% [1] - Gross margin widened by 270 basis points due to revenue leverage and product mix, though net income only increased by 1% to $16.8 million [2] - The company expects revenue growth of 6%-11% in 2025, with earnings growth projected at 9%-14% [2] Financial Health and Strategy - WD-40 Company maintains a robust balance sheet with $46.7 million in cash and low leverage, with total liabilities at less than 0.5x assets and 1x equity [3] - Equity, a measure of shareholder value, increased by nearly 10% [3] - The company plans to divest its Harvest Brand Cleaning Products segment to focus on core business growth, despite its good margins [2] - Cash flow was negative due to growth investments, but cash burn was only 3% of total cash, indicating strong capitalization [3] Dividend and Capital Returns - WD-40 Company has a reliable dividend with a yield of 1.33%, aligning with the S&P 500 average [1][3] - The company has a 16-year track record of dividend increases, with an annualized 3-year dividend growth rate of 7.40% [3] - The payout ratio is high at 68.88%, but it is supported by strong cash flow and growth prospects [3] Market and Analyst Sentiment - Analysts from DA Davidson and Jefferies Financial Group rate WD-40 stock as "Moderate Buy," with price targets ranging from $280 to $322, indicating a potential upside of 7.75%-20% [4] - Technical indicators suggest the stock is near equilibrium, with a bias towards upward movement due to growth, cash flow, and capital return prospects [5] Growth Opportunities - With 51% of revenue coming from the U.S., which represents only 15% of the global economy, WD-40 has significant growth potential in international markets [1] - Management is actively investing in new opportunities to drive future growth [1]

Sales Performance - Consolidated net sales increased by $53.3 million, or 10%, for fiscal year 2024 compared to the prior fiscal year, with sales volume contributing $41.3 million and average selling price contributing $4.2 million[124] - WD-40 Multi-Use Product sales increased by $45.3 million, or 11%, for fiscal year 2024 compared to the prior fiscal year[127] - WD-40 Specialist sales increased by $7.2 million, or 11%, for fiscal year 2024 compared to the prior fiscal year[127] - EIMEA segment net sales increased by $30.2 million, or 16%, for fiscal year 2024 compared to the prior fiscal year[128] - Americas segment net sales increased by $15.1 million, or 6%, for fiscal year 2024 compared to the prior fiscal year[128] - Latin America sales of WD-40 Multi-Use Product increased by $14.8 million, or 40%, primarily due to the transition to a direct marketing model in Brazil[132] - EIMEA segment net sales increased by $30.2 million (16%) to $221.0 million, driven by a 17% growth in maintenance products, with WD-40 Multi-Use Product sales up $25.5 million (18%) and WD-40 Specialist sales up $3.8 million (14%)[135][138] - Asia-Pacific segment net sales increased by $7.9 million (10%) to $87.6 million, with WD-40 Multi-Use Product sales up $5.7 million (9%) and WD-40 Specialist sales up $1.5 million (17%)[141][144] - Constant currency net sales in EIMEA increased by 12% ($22.2 million) and in Asia-Pacific by 11% ($9.1 million), reflecting underlying growth excluding currency impacts[135][141] - Net sales for fiscal year 2024 were $590.557 million, up from $537.255 million in 2023 and $518.820 million in 2022[177] Profitability and Margins - Gross profit as a percentage of net sales increased to 53.4% for fiscal year 2024 compared to 51.0% for the prior fiscal year[125] - Consolidated net income increased by $3.7 million, or 6%, for fiscal year 2024 compared to the prior fiscal year, with foreign currency exchange rates contributing $1.5 million[125] - Diluted earnings per common share for fiscal year 2024 were $5.11 versus $4.83 in the prior fiscal year[125] - Gross margin increased by 240 basis points to 53.4%, driven by favorable sales mix (130 bps), lower specialty chemical costs (80 bps), and reduced warehousing/distribution costs (80 bps)[149][151] - Americas operating income increased by 7% to $65.0 million in 2024, driven by a $15.1 million increase in sales and higher gross margin, which rose from 48.9% to 50.9%[159] - EIMEA operating income grew by 19% to $46.8 million in 2024, supported by a $30.2 million increase in sales and a gross margin improvement from 52.2% to 54.7%[161] - Asia-Pacific operating income rose by 15% to $29.7 million in 2024, with gross margin increasing from 55.3% to 58.0% due to favorable sales and market mix changes[162] - Net income for 2024 was $69.6 million, or $5.11 per diluted share, compared to $66.0 million, or $4.83 per diluted share, in 2023[169] - Gross margin improved to 53% in 2024, up from 51% in 2023, reflecting progress toward the company's long-term target of 55%[174] - Adjusted EBITDA as a percentage of net sales remained stable at 18% in both 2024 and 2023, consistent with the company's long-term target of 25%[174] - Adjusted EBITDA for fiscal year 2024 was $105.998 million, an increase from $98.697 million in 2023 and $95.042 million in 2022[177] - Adjusted EBITDA as a percentage of net sales remained consistent at 18% for fiscal years 2024, 2023, and 2022[177] Expenses and Costs - SG&A expenses increased by $29.2 million (19%) to $183.9 million, primarily due to higher employee-related costs ($16.1 million) and professional services fees ($6.1 million)[152][153] - Research and development investment increased by $1.8 million to $8.0 million, focused on sustainability, innovation, and product renovation[154] - A&P expenses increased to $33.9 million in 2024, up 18% from $28.8 million in 2023, driven by higher promotional programs and marketing support, particularly in the Americas and EIMEA segments[156][157] - Total expenditure on A&P activities reached $66.6 million in 2024, representing 11.2% of net sales, compared to $57.9 million (10.8% of net sales) in 2023[157] - Unallocated corporate expenses increased by 24% to $45.2 million in 2024, primarily due to higher employee-related costs and ERP system implementation expenses[163] - Cost of doing business as a percentage of net sales increased to 36% in 2024, compared to 33% in 2023, driven by higher operating expenses[176] Cash Flow and Financial Position - Net cash provided by operating activities decreased to $92.034 million in 2024 from $98.391 million in 2023[183] - Net cash used in investing activities increased to $9.735 million in 2024, primarily due to the purchase of the Brazilian distributor Theron[187] - Net cash used in financing activities decreased to $83.936 million in 2024, driven by lower net repayments on the revolving credit facility[187] - The company had $46.7 million in cash and cash equivalents as of August 31, 2024[181] - The 2023 Repurchase Plan authorized the company to acquire up to $50.0 million of outstanding shares, with $41.9 million remaining available as of August 31, 2024[182] - The company increased its regular quarterly cash dividend by 6% to $0.88 per share in December 2023[191] Debt and Interest Rates - The company's consolidated leverage ratio cannot exceed 3.5:1, and the consolidated interest coverage ratio cannot be less than 3:1[181] - The company has a $27.8 million outstanding balance on its $125.0 million revolving credit facility as of August 31, 2024, with interest rates based on SOFR, SONIA, and EURIBOR[207] - A one percentage point increase in variable interest rates would result in a pretax reduction of earnings and cash flows by approximately $0.3 million annually[207] - The weighted average cost of short-term debt, including fixed and variable rate borrowings, was 6.1% as of August 31, 2024[207] Foreign Currency and Hedging - Foreign currency exchange rates favorably impacted EIMEA net sales by $8.1 million but unfavorably impacted Asia-Pacific net sales by $1.1 million[140][145] - The company's U.K. subsidiary uses foreign currency forward contracts to manage exposure to net asset balances held in non-functional currencies[204] - The company does not engage in hedging activities to mitigate foreign currency translation risk, which affects sales, expenses, profits, assets, and liabilities[203] - Unremitted earnings of foreign subsidiaries are generally not considered indefinitely reinvested, except for specific statutory remittance restrictions in China[201] - The company's international subsidiaries operate in functional currencies other than the U.S. Dollar, exposing it to foreign currency risk during financial statement consolidation[203] Product and Market Performance - Homecare and cleaning product sales in the Americas segment decreased by $1.6 million, or 10%, due to reduced demand in the U.S.[134] - WD-40 Multi-Use Product sales in EIMEA benefited from volume recovery and price increases, with significant growth in France ($5.2 million), DACH ($5.0 million), and Iberia ($2.1 million)[138][139] - Asia-Pacific sales growth was driven by successful promotional programs in Indonesia, Korea, and Taiwan ($4.3 million) and increased sales volume in China ($1.6 million)[144][145] - The company expanded its direct market presence in Brazil and implemented a new ERP system in the U.S., contributing to increased professional services costs[153] Commodity and Raw Material Risks - The company does not hedge crude oil price volatility, which impacts the cost of specialty chemicals and aerosol cans, potentially affecting gross margins and operating results[206]

Quarterly Performance - WD-40 reported Q4 fiscal 2024 earnings of $1 23 per share missing the Zacks Consensus Estimate of $1 31 per share but marking an increase from $1 21 per share in the year-ago quarter [2] - Net sales rose 11 1% year over year to $156 million driven by increased sales of WD-40 Multi-Use Product in EIMEA Latin America and China [3] - Gross profit increased 16 9% to $84 3 million with gross margin expanding 270 basis points to 54 1% [3] - SG&A expenses escalated 26 6% to $49 1 million accounting for 31 5% of net sales [3] Segmental Sales - Americas net sales grew 6% to $79 2 million driven by a 7% increase in WD-40 Multi-Use Product sales particularly in Latin America [4] - EIMEA net sales increased 15 5% to $58 6 million with WD-40 Multi-Use Product sales up 16% [4] - Asia-Pacific net sales rose 21 4% to $18 2 million driven by a 26% increase in WD-40 Multi-Use Product sales [5] Strategic Initiatives - WD-40 is focusing on its new mantra 'few things many places bigger impact' to enhance efficiencies and returns on global investments [1] - The company plans to pursue the sale of its homecare and cleaning product portfolios in the Americas and the U K aligning with its Four-by-Four Strategic Framework [7] Financial Health - WD-40 ended Q4 with $46 7 million in cash and cash equivalents $86 million in long-term borrowings and $230 5 million in stockholders' equity [8] - The company repurchased 34 250 shares for $8 1 million under a $50 million share repurchase plan [8] FY25 Outlook - WD-40 projects net sales growth of 6-11% with total net sales expected to range from $600 million to $630 million [8] - Gross margin is anticipated to be 54-55% with operating income forecast between $95 million and $100 million [9] - Earnings per share are projected between $5 20 and $5 45 indicating growth of 9-14% [9] Industry Comparison - Shares of WD-40 lost 2 1% in the past month compared with the industry's decline of 0 3% [9]

Company Overview - The WD-40 Company (NASDAQ: WDFC) stock is one of the longest-held positions [1] - The company has maintained a hold rating due to expensive valuations despite its growth [1] Investment Strategy - The company promotes a blended trading and investing approach to grow wealth [1] - A sale is currently available, offering 75% savings compared to the regular price of $1,668 [1] - The sale will end once 3 more members sign up [1] - The company offers a money-back guarantee for new members [1]

Q4 & FY24 Earnings Results OCTOBER 17, 2024 Forward-Looking Statements Except for the historical information contained herein, this presentation contains "forward-looking statements" within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements are generally identified with words such as "believe," "expect," "intend," "plan," "project," "could," "may," "aim," "anticipate," "target," "estimate" and similar expressions. Such statements reflect the ...

WD-40 Company (NASDAQ:WDFC) Q4 2024 Earnings Conference Call October 17, 2024 5:00 PM ET Company Participants Wendy Kelley - VP, Stakeholder & Investor Engagement Steve Brass - President & CEO Sara Hyzer - VP, Finance & CFO 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 WD-40 Company Fourth Quarter and Full Fiscal Year 2024 Earnings Conference Call. Today's call is being recorded ...

EXHIBIT 99.1 WD-40 Company Reports Fourth Quarter and Fiscal Year 2024 Financial Results ~ Global net sales grew 11 percent in the fourth quarter compared to the prior year fiscal quarter ~ ~ Management issues fiscal year 2025 guidance ~ SAN DIEGO — October 17, 2024 — WD-40 Company (NASDAQ:WDFC), a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world, today reported financial re ...

Alexandr Lebedko Since 1953, WD-40 Company (NASDAQ:WDFC), a brand that spans the globe, has stood as a leading supplier of maintenance, home care, and cleaning products under the WD-40 Multi-Use product line of versatile maintenance products in aerosol, non-aerosol trigger spray, and liquid-bulk types. Its footprint is huge—the Americas, Europe, Middle East, Africa, Asia Pacific—and then down under in Australia. Its distribution network snakes from warehouse club stores, hardware stores, and automotive part ...

Core Insights - WD-40 Company (WDFC) reported better-than-expected third-quarter fiscal 2024 results, leading to a 4% increase in share price on July 11 [1] Financial Performance - Net sales reached $155.1 million, a 9% year-over-year increase, driven by higher sales of WD-40 Multi-Use Product in EIMEA, Latin America, and China [2] - Total maintenance product sales amounted to $147.2 million, representing a 10% increase from the previous year [2] - Gross profit was $82.4 million, up from $71.8 million year-over-year, with gross margin expanding by 250 basis points to 53.1% [10] - Earnings per share were reported at $1.46, surpassing the Zacks Consensus Estimate of $1.27 and increasing from $1.38 in the same quarter last year [14] Regional Sales Breakdown - In the Americas, net sales were $75.1 million, a 6% increase year-over-year, with a notable 7% rise in WD-40 Multi-Use Product sales [3] - EIMEA region saw net sales of $59.4 million, a 13% increase, primarily due to a 17% growth in WD-40 Multi-Use Product sales [11] - Asia-Pacific net sales reached $20.5 million, up 14% year-over-year, driven by an 11% increase in WD-40 Multi-Use Product sales [22] Future Outlook - For fiscal 2024, management anticipates net sales growth between 6-12%, projecting net sales of $570 million to $600 million on a non-GAAP constant currency basis [5] - The company expects a gross margin in the range of 51.5-53% [5] Shareholder Actions - From September 1, 2023, through the end of the third quarter of fiscal 2024, the company repurchased 34,250 shares for a total of $8.1 million as part of a $50 million repurchase program [23]