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WD-40 pany(WDFC) - 2025 Q1 - Quarterly Results
WDFCWD-40 pany(WDFC)2025-01-10 21:08

Sales Performance - Global net sales grew 9% to 153.5millioninQ12025comparedtotheprioryearfiscalquarter[5]−Totalmaintenanceproductsalesincreased10153.5 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 57.5million,drivenby2157.5 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 26.6million,primarilyduetoa626.6 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 140.4millioninQ32023[29]Profitability−Grossmarginimprovedto54.8140.4 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]−Grossprofitroseto1.39[5] - Gross profit rose to 84.1 million in Q3 2024, an 11.3% increase from 75.6millioninQ32023[29]−Netincomegrewto75.6 million in Q3 2023[29] - Net income grew to 18.9 million in Q3 2024, up 8.3% from 17.5millioninQ32023[29]FinancialPosition−Cashandcashequivalentsincreasedto17.5 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 46.7millionasofAugust31,2024[27]−Totalassetsdecreasedslightlyto46.7 million as of August 31, 2024[27] - Total assets decreased slightly to 447.3 million as of November 30, 2024, down 0.4% from 449.0millionasofAugust31,2024[27]−Totalliabilitiesincreasedto449.0 million as of August 31, 2024[27] - Total liabilities increased to 221.0 million as of November 30, 2024, up 1.2% from 218.5millionasofAugust31,2024[27]−Inventorylevelsdecreasedto218.5 million as of August 31, 2024[27] - Inventory levels decreased to 74.9 million as of November 30, 2024, down 5.3% from 79.1millionasofAugust31,2024[27]−Accountsreceivabledecreasedto79.1 million as of August 31, 2024[27] - Accounts receivable decreased to 111.4 million as of November 30, 2024, down 5.2% from 117.5millionasofAugust31,2024[27]−Short−termborrowingsincreasedto117.5 million as of August 31, 2024[27] - Short-term borrowings increased to 23.4 million as of November 30, 2024, up 170.5% from 8.7millionasofAugust31,2024[27]ExpensesandInvestments−Advertisingandsalespromotionexpensesrose208.7 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 3.6millionunderits3.6 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 600−630millionanddilutedEPSof600-630 million and diluted EPS of 5.20-5.45[13][14]CashFlow−Operatingcashflowdecreasedto5.45[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]