Business
WD-40 Company Reports First Quarter 2025 Financial Results
~ Global net sales grew 9 percent in the first quarter compared to the prior year fiscal quarter ~ ~ Management reiterates fiscal year 2025 guidance ~ SAN
About this update from Wd-40 Company
[{"type":"text","content":"\n~ Global net sales grew 9 percent in the first quarter compared to the prior year fiscal quarter ~\n\n\n~ Management reiterates fiscal year 2025 guidance ~\n\n\n SAN DIEGO--(BUSINESS WIRE)--\nWD-40 Company (NASDAQ:WDFC), a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world, today reported financial results for its first fiscal quarter ended November 30, 2024.\n\n\nFirst Quarter Highlights and Summary:\n\n\n\nTotal net sales were $153.5 million, an increase of 9 percent compared to the prior year fiscal quarter.\n\n\n\nTranslation of the Company’s foreign subsidiaries’ results from their functional currencies to U.S. dollars had a favorable impact on net sales of approximately $1.5 million for the current quarter.\n\n\n\nTotal maintenance product sales were $145.5 million, an increase of 10 percent compared to the prior year fiscal quarter.\n\n\n\nGross margin was 54.8 percent compared to 53.8 percent in the prior year fiscal quarter.\n\n\n\nSelling, general, and administrative expenses were $50.5 million, up 14 percent compared to the prior year fiscal quarter.\n\n\n\nAdvertising and sales promotion expenses were $8.4 million, up 20 percent compared to the prior year fiscal quarter. These expenses accounted for 5.5 percent of total net sales, up from 5.0 percent in the prior year fiscal quarter.\n\n\n\nOperating income was $25.1 million, an increase of 4 percent from the prior year fiscal quarter.\n\n\n\nNet income was $18.9 million, an increase of 8 percent from the prior year fiscal quarter.\n\n\n\nDiluted earnings per share were $1.39 compared to $1.28 in the prior year fiscal quarter, an increase of 9 percent.\n\n\n\nIn the first fiscal quarter the Company reclassified its homecare and cleaning business portfolios in the Americas and EIMEA segments to held for sale. Total net sales for these brands were $5.6 million and gross margin would have been favorably impacted by 60 basis points if those brands were excluded from first quarter results. In addition, operating income and diluted EPS would have been reduced by $1.5 million and $0.08, respectively.\n\n\n\n“In the first quarter, we executed well against our strategic priorities, with strong growth across multiple regions including the Unite...