Financial Performance - Consolidated net sales increased by $15.5 million, or 12%, compared to the same period last year, with a favorable impact of $3.8 million from foreign currency exchange rates[82] - Consolidated net income increased by $3.5 million, or 25%, with a constant currency basis showing a 21% increase[82] - Diluted earnings per share were $1.28, compared to $1.02 in the prior fiscal year period, reflecting a 25% increase[82] - Gross profit as a percentage of net sales rose to 53.8%, up from 51.4% in the prior year[82] - Gross profit for the three months ended November 30, 2023, was $75.6 million, an increase of $11.3 million from the prior year, with a gross margin of 53.8%[99] - Adjusted EBITDA as a percentage of net sales increased to 19% from 17% year-over-year[121] - Net income rose 25% to $17.5 million, or $1.28 per share, compared to $14.0 million, or $1.02 per share, in the prior year[115] Sales Performance by Segment - Net sales in the Americas segment increased by $6.1 million, or 10%, driven by a 12% increase in WD-40 Multi-Use Product sales[86] - EIMEA segment net sales rose by $7.98 million, or 20%, with WD-40 Multi-Use Product sales increasing by 23%[90] - Total maintenance products net sales increased by $15.8 million, or 14%, compared to the prior year[83] - The EIMEA segment accounted for 35% of consolidated sales for the three months ended November 30, 2023[82] - EIMEA segment net sales increased by $6.9 million, or 23%, driven by higher sales volume and price increases[93] - WD-40 Multi-Use Product sales in Asia-Pacific increased by $0.9 million, or 4%, with China sales up $0.5 million, or 8%[97] - Total net sales for the Asia-Pacific segment increased by 6% to $27.6 million, with a notable 131% increase in other maintenance products[94] - The favorable impact of foreign currency exchange rates contributed $3.6 million to net sales across various brands in the Asia-Pacific segment[96] Operating Expenses - SG&A expenses rose to $44.1 million, a 10% increase from the previous year, primarily due to higher employee-related costs and increased travel expenses[101] - Research and development costs increased to $1.9 million, up from $1.3 million, reflecting a focus on sustainability and product innovation[103] - A&P expenses increased by 31% to $7.0 million, driven by higher promotional programs and marketing support[104] - Total operating expenses increased to $51.4 million from $45.6 million, maintaining cost of doing business at 36% of net sales[120] Cash Flow and Financing - Cash provided by operating activities increased by $16.5 million to $26.9 million, driven by a net income increase of approximately $3.5 million[128] - Net cash used in investing activities decreased to $0.7 million, primarily due to lower manufacturing-related capital expenditures[130] - Net cash used in financing activities increased to $24.5 million, primarily due to net repayments on the revolving credit facility of $9.7 million[131] - The company has $50.3 million in cash and cash equivalents as of November 30, 2023, with no ongoing issues anticipated in repaying borrowings[125] Shareholder Returns - The Board approved a 2023 Repurchase Plan, authorizing up to $50.0 million in share repurchases, with $47.6 million remaining available[126] - The company's Board approved a 6% increase in the regular quarterly cash dividend, raising it from $0.83 per share to $0.88 per share, payable on January 31, 2024[137] Accounting and Compliance - The company’s financial statements are prepared in accordance with generally accepted accounting principles in the United States[138] - There have been no material changes in critical accounting policies and estimates since the last annual report filed on October 23, 2023[140] - No recently issued accounting standards are expected to have a material impact on the consolidated financial statements[141] - Revenue recognition and accounting for income taxes require subjective judgments and estimates, which may materially differ from actual results[139] Supplier Relationships - The company has ongoing relationships with various third-party suppliers and contract manufacturers, with minimum purchase obligations that are immaterial compared to historical purchase volumes[133] - The company communicates supply needs to contract manufacturers based on short-term projections ranging from two to six months[133] - The company is obligated to work with contract manufacturers to sell through all products held during the termination notification period[134] - As of November 30, 2023, there were no outstanding commitments with other manufacturers to purchase finished goods and components[135] - The amounts for inventory purchased under termination commitments with contract manufacturers have been immaterial[134]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended August 31, 2023 or ☐ 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) (Stat ...

Financial Data and Key Metrics Changes - The company reported net sales of $140.5 million for Q4 2023, an increase of nearly 8% compared to the same quarter last year [50] - Gross margin for Q4 was 51.4%, reflecting a 400 basis point improvement year-over-year [97] - EBITDA margin improved to 18% from 16% in the previous year [102] - Diluted earnings per share for the quarter were $1.21, compared to $1.08 for the same quarter last year, reflecting a 12% increase [104] Business Line Data and Key Metrics Changes - Sales in the Americas increased by 10% to $74.7 million, with maintenance product sales in the U.S. up 18% [43] - Maintenance product sales in EMEA increased by 19% in Q4, driven by strong performance in the UK, Italy, and Benelux [54] - Sales in Asia-Pacific decreased by 20% to $50 million, primarily due to foreign currency exchange rates [58] Market Data and Key Metrics Changes - The U.S. market experienced double-digit volume growth, with POS sales up 13% in units and 19% in dollars [1] - EMEA showed signs of recovery with double-digit constant currency growth for the last two quarters, despite a negative currency impact of nearly $18 million [49] - Latin America saw a 12% decline in maintenance product sales against a strong comparative period [51] Company Strategy and Development Direction - The company introduced a new Four-by-Four strategic framework aimed at driving profitable growth and sustainable value creation [62] - Key focus areas include geographic expansion, premiumization of products, and enhancing digital commerce capabilities [63][75] - The company is committed to achieving a gross margin target of 55% over the long term, with a short-term target range of 50% to 55% [119] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovery trends in the second half of fiscal year 2023, entering fiscal year 2024 with positive momentum [41][94] - The company anticipates net sales growth of 6% to 12% for fiscal year 2024, with gross margin expected between 51% and 53% [123] - Increased foreign taxes and interest rates are expected to impact net income and EPS for the upcoming fiscal year [17] Other Important Information - The company is undergoing a global strategic review of its homecare and cleaning brands, with no decisions made yet [46] - The implementation of a new cloud-based ERP system is expected to go live in the first half of fiscal year 2024 [114] - The company has reduced inventory levels by $32.5 million or 27% since the first quarter of fiscal year 2023 [113] Q&A Session Summary Question: Clarification on SG&A expense growth - Management indicated that SG&A growth will be less in percentage terms compared to the previous two years, primarily due to investments made in FY'23 [2][3] Question: FX effect on topline growth for FY'24 - The company plans to provide both actuals and constant currency guidance starting in Q1 FY'24, using the average FX rate from FY'23 [4][5] Question: Factors affecting EPS guidance - Management highlighted increased SG&A costs, non-cash amortization expenses from the new ERP system, and a rising tax rate as key factors impacting EPS [16][17] Question: Supply chain improvements - The company has stabilized its supply chain and expanded its supplier network, focusing on optimization as volumes recover [21][22] Question: Potential acquisitions - Management mentioned ongoing strategic reviews but indicated no immediate plans for acquisitions, focusing instead on organic growth and geographic expansion [25]

Financial Data and Key Metrics Changes - The company reported net sales of $141.7 million for Q3 2023, an increase of 15% compared to the same period last year, marking a new record for the company [41] - Year-to-date net sales reached $396.8 million, up 2% compared to the prior year [42] - Net income for the quarter was $18.9 million, reflecting a 30% increase year-on-year [12][31] - Gross margin improved to 50.6% in Q3 2023, up from 47.7% in the same quarter last year, representing a 290 basis points improvement [56] Business Line Data and Key Metrics Changes - Sales in the Americas increased by 16% to $71.1 million, driven by a 21% increase in maintenance product sales in the U.S. [13] - Sales of WD-40 Specialist increased by 7% in Q3 and 11% year-to-date [23][85] - Sales of homecare and cleaning products in the Americas remained flat compared to the prior year [15] - In Asia Pacific, sales surged by 42% to $18.1 million, with distributor markets seeing a 151% increase [18] Market Data and Key Metrics Changes - Sales in EMEA rose by 6% to $52.5 million, with a constant currency basis increase of 13% [16] - Sales in Latin America increased by 18% in Q3, primarily due to preemptive purchases ahead of a price increase [44] - Sales in Australia declined by 14% due to weaker market conditions and unfavorable currency changes [48] Company Strategy and Development Direction - The company is focusing on geographic expansion, premiumization of products, and digital commerce as part of its growth strategy [21][53] - A new global online marketing campaign titled "Repair It, Don't Replace It" was launched to promote sustainability [24][65] - The company is strategically reviewing its homecare and cleaning brands, indicating a potential de-emphasis on these lines [50][72] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about returning to growth, despite ongoing challenges from inflation and currency fluctuations [25][86] - The company anticipates a decline in inventory levels and expects to end the fiscal year in growth mode [33][36] - Future gross margin targets remain at 55%, with a commitment to restoring margins over the mid to long term [58][60] Other Important Information - The company plans to continue returning capital to shareholders through dividends and share repurchases, with a new plan approved for up to $50 million in buybacks [32][82] - The gross margin for the Americas was reported at 48.2%, showing improvement from previous lows [58] Q&A Session Summary Question: How should the company think about the next quarter regarding sales growth in the Americas? - Management indicated that while there will be some impact from prior price increases, they expect to see a turnaround in volumes, with a cautious outlook for the fourth quarter [37][89] Question: Is the company considering divesting any homecare and cleaning brands? - Management clarified that there are no firm plans to exit these brands but will take a strategic look at their long-term future [72][95] Question: When can the company expect to return to 55% gross margins? - Management stated that while they are making progress, it is difficult to pinpoint a timeline, suggesting it may take longer than a year to reach that target [100][104]

Q3 FY23 Earnings Results July 10, 2023 Historical financial and operating data in this presentation reflect the consolidated results of WD-40 Company and its subsidiaries (collectively, the "Company"). The Company markets maintenance products ("MP") under the WD-40®, 3-IN-ONE® and GT85® brand names. The WD-40 brand portfolio also includes the WD-40® Multi-Use Product, the WD-40 Specialist® and WD-40 BIKE® product lines. The Company markets the homecare and cleaning ("HCCP") under the following brands: X-14® ...

Table of Contents 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, 2023 o 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 ...

Q2 FY23 Earnings Results April 6, 2023 Historical financial and operating data in this presentation reflect the consolidated results of WD-40 Company and its subsidiaries (collectively, the "Company"). The Company markets maintenance products ("MP") under the WD-40®, 3-IN-ONE® and GT85® brand names. The WD-40 brand portfolio also includes the WD-40® Multi-Use Product, the WD-40 Specialist® and WD-40 BIKE® product lines. The Company markets the homecare and cleaning ("HCCP") under the following brands: X-14® ...

WD-40 Company (NASDAQ:WDFC) Q2 2023 Earnings Conference Call April 6, 2023 5:00 PM ET Company Participants Wendy Kelley - Vice President, Stakeholder, and Investor Engagement Steve Brass - President & CEO Sara Hyzer - Vice President & CFO Conference Call Participants Daniel Rizzo - Jefferies Linda Bolton-Weiser - D.A. Davidson Rosemarie Morbelli - Gabelli Funds Operator Ladies and gentlemen, thank you for standing by. Good day and welcome to the WD-40 Company Second Quarter 2023 Earnings Conference Call. To ...

þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 2023 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) 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 FY23 Earnings Results January 9, 2023 Historical financial and operating data in this presentation reflect the consolidated results of WD-40 Company and its subsidiaries (collectively, the "Company"). The Company markets maintenance products ("MP") under the WD-40®, 3-IN-ONE® and GT85® brand names. The WD-40 brand portfolio also includes the WD-40® Multi-Use Product, the WD-40 Specialist® and WD-40 BIKE® product lines. The Company markets the homecare and cleaning ("HCCP") under the following brands: X-1 ...