Business
WD-40 Company Reports Fourth Quarter and Fiscal Year 2024 Financial Results
~ Global net sales grew 11 percent in the fourth quarter compared to the prior year fiscal quarter ~ ~ Management issues fiscal year 2025 guidance ~ SAN
About this update from Wd-40 Company
[{"type":"text","content":"\n~ Global net sales grew 11 percent in the fourth quarter compared to the prior year fiscal quarter ~\n~ Management issues fiscal year 2025 guidance ~\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 fourth quarter and fiscal year ended August 31, 2024.\n\nFourth Quarter Highlights and Summary:\n\n\nTotal net sales were $156.0 million, an increase of 11 percent compared to the prior year fiscal quarter.\n\n\nExcluding the impact of foreign currency exchange rates, net sales would have increased 11 percent to $156.5 million compared to the prior year fiscal quarter.(1)\n\n\nTotal maintenance product sales were $147.5 million, an increase of 12 percent compared to the prior year fiscal quarter.\n\n\nGross margin was 54.1 percent compared to 51.4 percent in the prior year fiscal quarter.\n\n\nSelling, general, and administrative expenses were $49.1 million, up 27 percent compared to the prior year fiscal quarter.\n\n\nAdvertising and sales promotion expenses were $10.9 million, up 11 percent compared to the prior year fiscal quarter.\n\n\nNet income was $16.8 million, an increase of 1 percent compared to the prior year fiscal quarter.\n\n\nForeign currency exchange rates did not have a significant effect on net income compared to the prior year fiscal quarter.\n\n\nDiluted earnings per share were $1.23 compared to $1.21 in the prior year fiscal quarter.\n\n\nFiscal Year 2024 Highlights and Summary:\n\n\nTotal net sales were $590.6 million, an increase of 10 percent compared to the prior fiscal year.\n\n\nExcluding the impact of foreign currency exchange rates, net sales would have increased 8 percent to $582.7 million compared to the prior fiscal year.(1)\n\n\nGross margin was 53.4 percent compared to 51.0 percent in the prior fiscal year.\n\n\nSelling, general, and administrative expenses were $183.9 million, up 19 percent compared to the prior fiscal year.\n\n\nAdvertising and sales promotion expenses were $33.9 million, up 18 percent compared to the prior fiscal year.\n\n\nNet income was $69.6 million, an increase of 6 percent compared to the prior fiscal year.\n\n\nExcluding the favorable ...