NASDAQ$WDFC
WD-40 Company · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported a 7 percent increase in global net sales compared to the prior year fiscal quarter.
WD-40 Company reported a 7% increase in global net sales for the second quarter, with growth across all trade blocs. Gross margin improved by 160 basis points. The company is raising its full-year 2024 net income and diluted earnings per share guidance.
- Total net sales for the second quarter were $139.1 million, a 7% increase year-over-year.
- Gross margin was 52.4% in the second quarter, compared to 50.8% in the prior year fiscal quarter.
- Net income for the second quarter was $15.5 million, a 6% decrease from the prior year fiscal quarter.
- Diluted earnings per share were $1.14 in the second quarter, compared to $1.21 in the prior year fiscal quarter.
Headline financials
Revenue & EPS history
WD-40 · Revenue · Quarterly
$139M
Revenue by segment
WD-40 · $133M total across 1 segment · Q3 2023
- Maintenance Products$133M+15.4%100.0%
Forward guidance
The Company is providing the following guidance for fiscal year 2024: Reiterating net sales growth between 6 and 12 percent, with net sales expected to be between $570 million and $600 million on a non-GAAP constant currency basis.
Tailwinds
- Reiterating net sales growth between 6 and 12 percent, with net sales expected to be between $570 million and $600 million on a non-GAAP constant currency basis.
- Narrowing the gross margin range to now be between 51.5 and 53 percent, compared to prior guidance of between 51 and 53 percent.
- Advertising and promotion investments are still expected to be between 5 and 6 percent of net sales.
- Lowering the provision for income tax to now be in the range of 23 and 24 percent, compared to prior guidance of between 24 and 25 percent.
- Increasing net income to now be in the range of $67.7 million and $71.8 million, compared to prior guidance of between $65 million and $70 million.
Headwinds
- Unanticipated inflationary headwinds may affect the Company’s financial results.
- Other unforeseen events may further affect the Company’s financial results.
- Changes in the political conditions or relations between the United States and other nations.
- Impacts from inflationary trends and supply chain constraints.
- Changes in interest rates.
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 Q2 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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