WD-40 pany(US:WDFC)2023-01-09 23:47Q1 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]