WD-40 Q1 net income down 21% to $18.6M; diluted EPS $1.34 vs $1.72; gross margin falls to 50.8%

WD 40 CO

2022-Q1 EPS reported $1.34 revenue$134,746,000

Net sales up 8% to $134.7M (constant currency $131.3M); maintenance product sales up 10%, homecare down 15%.
Gross margin dropped to 50.8% from 56.4% due to inflationary pressures and supply chain disruptions.
FY2022 guidance: net sales $522-547M, gross margin 52-54%, diluted EPS $5.24-$5.38.
Quarterly dividend raised 8% to $0.78/share, payable Jan 31, 2022 to holders of record Jan 14.
Board approved $75M share buyback plan; $7.4M repurchased (32,000 shares) through Nov 30, 2021.

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