WDFC 8-K: WD-40 Q3 sales up 15% to $141.7M; EPS $1.38 vs $1.07; new $50M buyback plan

WD-40 Q3 sales up 15% to $141.7M; EPS $1.38 vs $1.07; new $50M buyback plan

WD 40 CO

2023-Q3 EPS reported $3.62 revenue$396,803,000

Net sales $141.7M (+15% YoY); net income $18.9M (+30%); diluted EPS $1.38 vs $1.07.

Americas sales +16%; EMEA +6% (constant currency +13%); Asia-Pacific +42%.

Board approved new $50M share buyback plan effective Sept 1, 2023, replacing expiring $75M plan.

FY2023 guidance reiterated: sales $535-560M, EPS $4.80-$5.00, gross margin 51-52%.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WD 40 CO reported the third fiscal quarter ended May 31, 2023 results: revenue $141.7 million, net income $18.9 million, EPS $1.38.

Period: the third fiscal quarter ended May 31, 2023
Revenue: $141.7 million
Net income: $18.9 million
EPS: $1.38
Result: reported results

Exact text from the filing

Total net sales for the third quarter were $141.7 million, an increase of 15 percent compared to the prior year fiscal quarter. Year-to-date total net sales were $396.8 million, an increase of 2 percent compared to the prior year fiscal period. • Translation of the Company’s foreign subsidiaries’ results from their functional currencies to U.S. dollars had an unfavorable impact on sales for the current quarter and year-to-date. On a non-GAAP constant currency basis, total net sales would have been $145.6 million for the third quarter and $415.7 million year to date. • Net income for the third quarter was $18.9 million, an increase of 30 percent from the prior year fiscal quarter. Year-to-date net income was $49.4 million, a decrease of 6 percent from the prior year fiscal period. • Translation of the Company’s foreign subsidiaries’ results from their functional currencies to U.S. dollars had an unfavorable impact on net income for the current quarter and year to date. On a non-GAAP con

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