NASDAQ$WDFC
WD-40 Company · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
WD-40's financial performance in Q1 2024 reflected significant sales growth and improved gross margin.
WD-40 Company reported a 12% increase in net sales to $140.4 million for the first quarter of fiscal year 2024. Net income increased by 25% to $17.5 million, with diluted earnings per share at $1.28. The company reiterated its fiscal year 2024 guidance.
- Total net sales increased by 12% compared to the prior year fiscal quarter.
- Gross margin improved to 53.8% compared to 51.4% in the prior year fiscal quarter.
- Net income increased 25% from the prior year fiscal quarter.
- Diluted earnings per share were $1.28 compared to $1.02 for the prior year fiscal quarter.
Headline financials
Revenue & EPS history
WD-40 · Revenue · Quarterly
$140M
Revenue by segment
WD-40 · $133M total across 1 segment · Q3 2023
- Maintenance Products$133M+15.4%100.0%
Forward guidance
The Company reiterated the following guidance for fiscal year 2024:
Tailwinds
- Net sales growth is projected to be between 6 and 12 percent with net sales expected to be between $570 million and $600 million on a non-GAAP constant currency basis.
- Gross margin for the full year is expected to be between 51 and 53 percent.
- Advertising and promotion investments are projected to be between 5 and 6 percent of net sales.
- The provision for income tax is expected to be between 24 and 25 percent.
- Net income is projected to be between $65 million and $70 million.
Headwinds
- Diluted earnings per share is expected to be between $4.78 and $5.15 based on an estimated 13.6 million weighted average shares outstanding.
- Unanticipated inflationary headwinds may affect the Company’s financial results.
- Other unforeseen events may further affect the Company’s financial results.
- Results can vary from quarter to quarter based on the timing of promotional activities
- Results can vary from quarter to quarter based on market mix, and the impacts from a world which is filled with volatility, uncertainty, complexity, and ambiguity
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.3%
Avg return
Earnings day
+0.0%
Avg return
5 days after
+1.9%
Avg return
30 days after
48%
31 / 65 earnings
Positive
+20.9%
Q3 2023
Best reaction
-14.0%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +0.8% | -6.6% | -5.1% | |
| Q1 2026 | -6.7% | +0.4% | +17.2% | |
| Q4 2025 | +2.8% | +0.6% | -1.0% | |
| Q3 2025 | +1.0% | -3.5% | -1.4% | |
| Q2 2025 | -8.2% | -6.7% | -1.4% | |
| Q1 2025 | -5.0% | -3.9% | -0.7% | |
| Q4 2024 | -4.7% | +0.1% | +5.8% | |
| Q3 2024 | +3.5% | +11.0% | +13.5% | |
| Q2 2024 | -10.0% | -8.8% | -9.9% | |
| Q1 2024 | +14.6% | +14.8% | +11.7% | |
| Q4 2023 | -1.7% | +2.1% | +6.8% | |
| Q3 2023 | +20.9% | +18.3% | +16.9% | |
| Q2 2023 | -3.5% | -2.6% | +3.3% | |
| Q1 2023 | +2.0% | +8.4% | +7.7% | |
| Q4 2022 | -14.0% | -15.5% | -0.7% | |
| Q3 2022 | -13.8% | -16.7% | -12.0% | |
| Q2 2022 | +6.9% | +6.2% | +4.1% | |
| Q1 2022 | +3.6% | +6.1% | -5.8% | |
| Q4 2021 | -8.6% | -4.8% | -1.0% | |
| Q3 2021 | +2.5% | +0.9% | -4.4% | |
| Q2 2021 | -8.1% | -15.7% | -20.3% | |
| Q1 2021 | +13.5% | +7.1% | +18.9% | |
| Q4 2020 | +19.9% | +20.1% | +31.3% | |
| Q3 2020 | -4.4% | -4.7% | -3.3% | |
| Q2 2020 | -11.7% | -1.5% | +0.2% | |
| Q1 2020 | -2.2% | -0.7% | -2.6% | |
| Q4 2019 | -0.3% | +0.6% | +3.0% | |
| Q3 2019 | +8.2% | +10.0% | +12.9% | |
| Q2 2019 | -3.6% | -2.0% | -3.4% | |
| Q1 2019 | -4.7% | -5.2% | -1.3% | |
| Q4 2018 | +3.0% | +2.3% | +6.9% | |
| Q3 2018 | +4.4% | +7.3% | +8.9% | |
| Q2 2018 | -1.8% | +0.4% | +1.5% | |
| Q1 2018 | +3.6% | +4.1% | -2.5% | |
| Q4 2017 | -3.4% | -5.2% | -2.2% | |
| Q3 2017 | -3.4% | -3.0% | -5.3% | |
| Q2 2017 | -4.3% | -2.4% | -1.6% | |
| Q1 2017 | -11.5% | -13.8% | -9.9% | |
| Q4 2016 | +0.1% | -1.9% | -0.2% | |
| Q3 2016 | +2.7% | +4.8% | -0.4% | |
| Q2 2016 | -5.2% | — | — | |
| Q1 2016 | +1.1% | — | — | |
| Q4 2015 | +1.7% | — | — | |
| Q3 2015 | -5.0% | — | — | |
| Q2 2015 | -4.4% | — | — | |
| Q1 2015 | +1.3% | — | — | |
| Q4 2014 | +7.5% | — | — | |
| Q3 2014 | -6.6% | — | — | |
| Q2 2014 | -4.2% | — | — | |
| Q1 2014 | -2.3% | — | — | |
| Q4 2013 | +6.3% | — | — | |
| Q3 2013 | -1.2% | — | — | |
| Q2 2013 | +2.0% | — | — | |
| Q1 2013 | +11.4% | — | — | |
| Q1 2012 | +11.4% | — | — | |
| Q4 2010 | -0.9% | — | — | |
| Q4 2012 | -7.9% | — | — | |
| Q3 2011 | -5.4% | — | — | |
| Q3 2012 | -5.8% | — | — | |
| Q2 2011 | -1.3% | — | — | |
| Q2 2012 | +0.6% | — | — | |
| Q4 2011 | +1.4% | — | — | |
| Q1 2011 | +1.4% | — | — | |
| Q3 2010 | +6.2% | — | — | |
| Q2 2010 | +2.3% | — | — |
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