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 Financial Performance - Net sales decreased by 7% to $124.9 million compared to $134.7 million in Q1 FY22 [6] - Gross profit margin increased by 60 basis points to 51.4% [6] - Operating income decreased by 22% to $18.7 million [6] - Net income decreased by 25% to $14.0 million [6] - Diluted EPS decreased by 24% to $1.02 [6] - Changes in foreign currency exchange rates unfavorably impacted net sales, reducing total net sales by approximately $8.1 million [6, 10] Segment Performance - Americas segment sales increased by 3% to $58.0 million [11] - EMEA segment sales decreased by 29% to $40.8 million [12] - Asia-Pacific segment sales increased by 25% to $26.1 million [13] Growth Aspirations and Strategies - The company reiterates fiscal year 2023 guidance with net sales between $545 million and $570 million [31] - The company is targeting a compound annual growth rate in the mid-to-high single digits [17] - The company estimates the potential global market opportunity for WD-40 Multi-Use Product to be approximately $1 billion [18]

WD-40 Company (NASDAQ:WDFC) Q1 2023 Earnings Conference Call January 9, 2023 5:00 PM ET Company Participants Wendy Kelley - Vice President, Stakeholder, and Investor Engagement Steve Brass - President and Chief Executive Officer Sara Hyzer - Vice President and Chief Financial Officer Conference Call Participants Daniel Rizzo - Jefferies Christina Xue - D.A. Davidson Operator Ladies and gentlemen, thank you for standing by. Good day and welcome to the WD-40 Company First Quarter 2023 Earnings Conference Call ...

¨ 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 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 November 30, 2022 Securities registered pursuant to Section 12(b) of the Act: | Title of ea ...

[Part I](index=4&type=section&id=PART%20I) [Business](index=4&type=section&id=Item%201.%20Business) The company operates globally, selling maintenance and homecare products across two main groups with a focus on strategic growth initiatives - The company's sales are derived from two main product groups: maintenance products sold globally, and homecare and cleaning products sold primarily in North America, the U.K., and Australia[20](index=20&type=chunk) - WD-40's strategic initiatives focus on: (i) building a business for the future (ESG focus), (ii) attracting and developing employees (tribe members), (iii) operational excellence, (iv) growing WD-40 Multi-Use Product, (v) growing the WD-40 Specialist product line, and (vi) expanding portfolio opportunities[21](index=21&type=chunk) - As of the report date, the company employed **583 people** ('tribe members') across 15 countries, with women comprising **46% of the global workforce** and a **93% employee engagement level** in 2022[24](index=24&type=chunk)[25](index=25&type=chunk) - The company outsources its finished goods manufacturing to third-party manufacturers in numerous countries, including the U.S., U.K., China, and Mexico, while producing its core concentrate in-house and with contractors[43](index=43&type=chunk) [Risk Factors](index=9&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from global economic conditions, supply chain disruptions, cost volatility, and cybersecurity threats - Adverse global economic conditions, including inflation and supply chain disruptions, have increased costs and may continue to unfavorably impact gross margin and operating results[53](index=53&type=chunk)[54](index=54&type=chunk) - The company relies on a limited number of third-party contract manufacturers and suppliers, exposing it to risks of production disruption, capacity constraints, and increased costs[64](index=64&type=chunk)[65](index=65&type=chunk) - Approximately **66% of net sales in FY2022** were outside the U.S., exposing the company to foreign currency risk, geopolitical instability, and complex international regulations[67](index=67&type=chunk)[68](index=68&type=chunk) - The ongoing implementation of a new information system presents risks of operational interruption and significant incremental costs if difficulties are encountered[74](index=74&type=chunk) - Dependence on a limited number of large chain store customers creates risk, as changes in their strategies could harm sales[96](index=96&type=chunk) [Unresolved Staff Comments](index=19&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the SEC - None[117](index=117&type=chunk) [Properties](index=19&type=section&id=Item%202.%20Properties) The company owns facilities in California and the UK and leases various office, R&D, and sales spaces across its global operating segments - The company owns an office in San Diego, CA, and an office and plant facility in Milton Keynes, UK[118](index=118&type=chunk)[119](index=119&type=chunk) - Leased properties include a research and development facility in New Jersey and various offices in Canada, Mexico, Germany, France, Italy, Spain, Portugal, the Netherlands, Australia, China, and Malaysia[118](index=118&type=chunk)[119](index=119&type=chunk)[120](index=120&type=chunk) [Legal Proceedings](index=19&type=section&id=Item%203.%20Legal%20Proceedings) Information regarding legal proceedings is incorporated by reference from the notes to the consolidated financial statements - The required information is incorporated by reference from Note 12 of the financial statements[121](index=121&type=chunk) [Mine Safety Disclosures](index=19&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[122](index=122&type=chunk) [Part II](index=20&type=section&id=PART%20II) [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=20&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's stock trades on NASDAQ, with a history of paying dividends and a share repurchase plan effective through August 2023 - The company's common stock is traded on the NASDAQ Global Select Market under the symbol **WDFC**[125](index=125&type=chunk) - In December 2021, the Board of Directors **increased the regular quarterly cash dividend by 8%** from $0.72 to $0.78 per share[126](index=126&type=chunk) - A new share buy-back plan was approved on October 12, 2021, authorizing the repurchase of up to **$75.0 million** of outstanding shares through August 31, 2023[129](index=129&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) FY2022 net sales grew 6% to $518.8 million, but gross margin fell sharply due to cost inflation, and operating cash flow decreased significantly [Highlights and Significant Developments](index=21&type=section&id=Highlights%20and%20Significant%20Developments) FY2022 saw 6% net sales growth despite unfavorable currency impacts, with gross margin declining significantly due to supply chain and inflation pressures FY 2022 Financial Highlights vs. FY 2021 | Metric | FY 2022 | FY 2021 | Change | |:--- |:--- |:--- |:--- | | **Net Sales** | $518.8 million | $488.1 million | +6% | | **Gross Margin** | 49.1% | 54.0% | -4.9 p.p. | | **Net Income** | $67.3 million | $70.2 million | -4% | | **Diluted EPS** | $4.90 | $5.09 | -4% | - The company suspended sales to Russia and Belarus in March 2022, which represented approximately **3% of consolidated net sales** in fiscal year 2021[143](index=143&type=chunk) - Global supply chain issues and inflation led to increased costs and negatively impacted gross margin, prompting price increases across all markets[137](index=137&type=chunk)[139](index=139&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) FY2022 net sales grew 6% to $518.8 million, driven by the Americas and Asia-Pacific, while gross margin fell 490 basis points due to higher costs Net Sales by Segment (FY2022 vs. FY2021) | Segment | FY 2022 Sales | FY 2021 Sales | % Change | Constant Currency % Change | |:--- |:--- |:--- |:--- |:--- | | **Americas** | $240.2 million | $214.6 million | +12% | +12% | | **EMEA** | $204.7 million | $208.3 million | -2% | +2% | | **Asia-Pacific** | $73.9 million | $65.3 million | +13% | +14% | | **Total** | **$518.8 million** | **$488.1 million** | **+6%** | **+8%** | Gross Margin Change Drivers (bps) | Driver | Impact (bps) | |:--- |:--- | | Sales Price Increases | +390 | | Higher Specialty Chemical Costs | (430) | | Higher Aerosol Can Costs | (180) | | Higher Warehousing/Freight Costs | (110) | | Higher Filling Fees | (100) | | Foreign Currency Exchange Rates (EMEA) | (50) | | **Total Change** | **(490)** | - SG&A expenses decreased by 5% to $138.7 million, mainly due to an **$11.5 million reduction** in employee-related costs from lower incentive compensation accruals[159](index=159&type=chunk)[160](index=160&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) Operating cash flow decreased significantly to $2.6 million from $84.7 million, primarily due to a strategic increase in inventory levels Cash Flow Summary (in thousands) | Cash Flow Activity | FY 2022 | FY 2021 | |:--- |:--- |:--- | | **Net cash provided by operating activities** | $2,604 | $84,714 | | **Net cash used in investing activities** | ($7,691) | ($14,460) | | **Net cash used in financing activities** | ($38,011) | ($40,749) | - The **$82.1 million decrease in operating cash flow** was primarily driven by a significant, deliberate increase in inventory to manage supply chain volatility[186](index=186&type=chunk) - As of August 31, 2022, the company had **$37.8 million in cash and cash equivalents** and was in compliance with all material debt covenants[183](index=183&type=chunk) [Critical Accounting Policies and Estimates](index=35&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) The company's most critical accounting policies involve significant management judgment for revenue recognition and income tax accounting - Revenue recognition requires significant estimates for variable consideration; a **10% change in sales incentive accruals** would impact net sales by approximately **$1.0 million**[201](index=201&type=chunk) - Accounting for income taxes is critical due to the judgment required in establishing deferred tax assets/liabilities and provisions for uncertain tax positions[202](index=202&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks from foreign currency, commodity prices tied to oil, and interest rates on its credit facility - The company is exposed to foreign currency translation risk and uses forward contracts to limit exposure on some non-functional currency balances[207](index=207&type=chunk)[208](index=208&type=chunk) - Commodity price risk is significant, as oil price volatility directly impacts specialty chemical and aerosol can costs, a risk the company does not currently hedge[209](index=209&type=chunk) - Interest rate risk exists on the **$150.0 million** revolving credit facility, of which **$77.9 million was outstanding** as of August 31, 2022[210](index=210&type=chunk) [Financial Statements and Supplementary Data](index=36&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section contains the audited consolidated financial statements, which received an unqualified opinion with a critical audit matter noted - The consolidated financial statements and the Report of Independent Registered Public Accounting Firm are included in Item 15 of the report[211](index=211&type=chunk) - PricewaterhouseCoopers LLP issued **unqualified opinions** on the consolidated financial statements and the company's internal control over financial reporting as of August 31, 2022[243](index=243&type=chunk) - A critical audit matter was identified concerning **rebate accruals** due to the significant management judgment involved in their estimation[249](index=249&type=chunk)[250](index=250&type=chunk) [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=37&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting principles, practices, or financial disclosure - None[214](index=214&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management and the independent auditor concluded that the company's disclosure controls and internal control over financial reporting were effective - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of August 31, 2022[215](index=215&type=chunk) - Management concluded that its internal control over financial reporting was **effective** as of August 31, 2022, based on the COSO 2013 framework[216](index=216&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the fourth quarter of fiscal year 2022[219](index=219&type=chunk) [Part III](index=38&type=section&id=PART%20III) [Directors, Executive Officers, Compensation, Security Ownership, and Accountant Fees](index=38&type=section&id=Items%2010-14) This section incorporates information by reference from the Proxy Statement regarding governance, compensation, and security ownership - Information for Items 10, 11, 13, and 14 is incorporated by reference from the company's Proxy Statement[224](index=224&type=chunk)[226](index=226&type=chunk)[229](index=229&type=chunk) Equity Compensation Plan Information as of August 31, 2022 | Plan category | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) | Weighted-average exercise price of outstanding options, warrants and rights (b) | Number of securities remaining available for future issuance under equity compensation plans (c) | |:--- |:--- |:--- |:--- | | **Equity compensation plans approved by security holders** | 136,937 | $ - | 384,859 | | **Equity compensation plans not approved by security holders** | n/a | n/a | n/a | | **Total** | **136,937** | **$ -** | **384,859** | [Part IV](index=40&type=section&id=PART%20IV) [Exhibits, Financial Statement Schedules](index=40&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all documents filed with the Form 10-K, including financial statements, notes, and various corporate exhibits - This item contains the list of financial statements, schedules, and exhibits filed with the report[231](index=231&type=chunk) - Key exhibits listed include corporate governance documents, compensation plans, and major debt agreements[231](index=231&type=chunk)[232](index=232&type=chunk)[233](index=233&type=chunk) [Form 10-K Summary](index=42&type=section&id=Item%2016.%20Form%2010-K%20Summary) This item is not applicable to the company's filing - Not applicable[234](index=234&type=chunk)

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------|-------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Q4 FY22 | | | | | | | | | | | EARNINGS RESULTS October 19, 2022 | | | | | | | | | | | | | | | | | | | | | Forward-Looking Statements Historical financial and operating data in this presentation reflect the consolidated results of WD-40 Company, its subsidiaries and its l ...

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 ...