WD-40 pany(WDFC) - 2025 Q1 - Quarterly Results

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]