WD-40 pany(WDFC) ZACKS·2024-10-21 15:31Quarterly 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]