WDFC Stock Recent News

SAN DIEGO--(BUSINESS WIRE)--WD-40 Company (NASDAQ:WDFC) today announced that its board of directors declared on Tuesday, December 12, 2023 a quarterly dividend of $0.88 per share reflecting an increase of 6 percent compared to the previous quarter's dividend. The quarterly dividend is payable January 31, 2024 to stockholders of record at the close of business on January 19, 2024. The Company also announced that it has scheduled its first quarter 2024 earnings conference call for Tuesday, Januar.

Strong recovery in sales volume from 1H23's decline caused by announcement in price increase demonstrates a continuing strong demand. WDFC's strategic initiatives, including product premiumization and e-commerce, are expected to drive future growth and margin expansion. 2024's guided net sales are expected to grow at 2 -3X of 2023's reported growth rate.

WD-40 Company's stock is viewed as a hold due to its slow and stable growth despite high valuations. The stock is perennially overpriced. Sales in the Americas are the bellwether. Margins improved with a gross margin of 51.4% in Q4, resulting from pricing increases and cost-cutting efforts.

WD-40 Company (WDFC) Q4 2023 Earnings Call Transcript

SAN DIEGO--(BUSINESS WIRE)--WD-40 Company (NASDAQ:WDFC) today announced that its board of directors declared on Friday, October 6, 2023 a quarterly dividend of $0.83 per share, payable October 31, 2023 to stockholders of record at the close of business on October 20, 2023. The Company also announced that it has scheduled its fourth fiscal quarter 2023 earnings conference call for Thursday, October 19, 2023, at 2:00 p.m. PDT. On this call, management will discuss financial results, business deve.

WD-40 Company's Q3 2023 results showed growth in net sales and net income, but sales volumes were down in the Americas and EMEA. The company sees growth opportunities in China, India, and Indonesia, but there are concerns about political risks and the ability to capture the market. WD-40's valuation is high, with a multiple in the low 30s, and it may not be able to justify its current stock price with the projected growth.

Demand for cleaning supplies took off during the early days of the pandemic. That is now cooling off, leading WD-40 to reevaluate its cleaning products business.

WD-40 beat earnings and revenue expectations for the quarter, and affirmed full-year guidance. International sales could be a source of growth.

WD-40 is generating sales in line with expectations, but the market is impressed with its profitability improvements. The company implemented price increases to address its higher input costs due to inflation.

WD-40 shares rose more than 10% in early trading as the company reported a double-digit jump in sales in its third quarter earnings after two consecutive quarters of little or no growth.