Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 3 highly experienced directors. Director Ken Plunk was the last director to join the board, commencing their role in 2026. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 10
WD-40 Company Reaffirms Earnings Guidance for the Fiscal Year 2026 WD-40 Company reaffirmed earnings guidance for the Fiscal Year 2026. For the period, the company's Net sales growth from the 2025 pro forma results is projected to be between 5% and 9% with net sales expected to be between $630 million and $655 million after adjusting for foreign currency impacts. Operating income is projected to be between $103 million and $110 million. This range reflects anticipated growth of between 5% to 12% compared to 2025 pro forma results. Diluted earnings per share is expected to be between $5.75 and $6.15 based on an estimated 13.4 million weighted average shares outstanding. This range reflects anticipated growth of between 5% to 12% compared to 2025 pro forma results. Announcement • Feb 20
WD-40 Company Announces Appointment of Ken Plunk as Director and Committee Member, Effective February 18, 2026 WD-40 Company announced the appointment of Ken Plunk to its board of directors, effective February 18, 2026. Mr. Plunk will serve as a member of the Audit and Finance Committees. Mr. Plunk, age 62, served as chief financial officer and senior vice president, information technology, of J&J Snack Foods Corp. from September 2020 to December 2024 and as senior vice president, international finance, strategy, technology and supply chain, of Wal-Mart Stores Inc. (“Wal-Mart”) from 2017 to 2019. He has also held other executive positions at Wal-Mart from 2007 to 2017 and various management positions at The Home Depot and The Coca-Cola Company from 1996 to 2007. Since January 2024, Mr. Plunk has served as an independent director of Milo’s Tea Company, a privately held company, and as a member of its Finance, Audit, and Risk Committee. He also serves as a member of Belmont University’s Board of Advisors, Center for Global Citizenship, and is a member of the National Association of Corporate Directors’ chapter, both based in Nashville, Tennessee. Mr. Plunk holds a Bachelor of Business Administration in Accounting from the University of Memphis in Tennessee. Mr. Plunk started his career at Ernst & Young, and he is a Certified Public Accountant (inactive) in Tennessee and a Six Sigma Green Belt. The Board adopted a resolution to increase the authorized number of directors of the Company’s Board from 9 to 10, effective February 18, 2026, and Mr. Plunk was appointed to fill the vacancy created by such increase. Announcement • Jan 09
WD-40 Company Reaffirms Earnings Guidance for the Fiscal Year 2026 WD-40 Company reaffirmed earnings guidance for the Fiscal Year 2026. For the period, the company's Net sales growth from the 2025 pro forma results is projected to be between 5% and 9% with net sales expected to be between $630 million and $655 million after adjusting for foreign currency impacts. Operating income is projected to be between $103 million and $110 million. This range reflects anticipated growth of between 5% to 12% percent compared to 2025 pro forma results. Diluted earnings per share is expected to be between $5.75 and $6.15 based on an estimated 13.4 million weighted average shares outstanding. This range reflects anticipated growth of between 5% to 12% compared to 2025 pro forma results. Announcement • Nov 03
WD-40 Company, Annual General Meeting, Dec 12, 2025 WD-40 Company, Annual General Meeting, Dec 12, 2025. Announcement • Oct 15
WD-40 Company Announces Trevor I. Mihalik Decides to Resign and Not Stand for Re-Election to Board and as Chair of Finance Committee, Member of Corporate Governance Committee and Audit Committee, Effective December 12, 2025 On October 9, 2025, Trevor I. Mihalik, a member of the Board of Directors of WD-40 Company, notified the Board of his decision to resign and not stand for re-election from the Company’s Board, effective as of the 2025 Annual Meeting of Stockholders, which is currently scheduled for December 12, 2025. Mr. Mihalik’s decision to resign and not stand for re-election at the 2025 Annual Meeting was not due to any disagreement with the Company on any matter relating to its operations, policies or practices. Mr. Mihalik joined the Company’s Board in 2019 and currently serves as chair of the Finance Committee and as a member of the Corporate Governance Committee and the Audit Committee. Mr. Mihalik will continue to serve on the Board and such committees until the 2025 Annual Meeting. Effective upon Mr. Mihalik’s resignation from the Board, the size of the Company’s Board will be reduced from 10 to 9 directors. Announcement • Oct 10
WD-40 Company Declares Regular Quarterly Dividend, Payable October 31, 2025 WD-40 Company announced that its board of directors declared on October 9, 2025 a quarterly dividend of $0.94 per share, payable October 31, 2025 to stockholders of record at the close of business on October 20, 2025. Announcement • Oct 02
WD-40 Company to Report Q4, 2025 Results on Oct 22, 2025 WD-40 Company announced that they will report Q4, 2025 results at 1:05 PM, Pacific Daylight on Oct 22, 2025 Announcement • Jul 11
WD-40 Company Updates Earnings Guidance for the Fiscal Year 2025 WD-40 Company updated earnings guidance for the fiscal year 2025. For the year, the company expects net sales growth from the pro forma 2024 results has been narrowed to be projected to be between 6% and 9%, with net sales between $600 million and $620 million, after adjusting for estimated translation impacts of foreign currency. Operating income has been increased to be projected to be between $96 million and $101 million. This range now reflects anticipated growth of between 7% to 12% compared to 2024 pro forma results. Diluted earnings per share have been increased and are now expected to be between $5.30 and $5.60 based on an estimated 13.5 million weighted average shares outstanding. This new range reflects anticipated growth of between 12% to 18% compared to 2024 pro forma results. Announcement • Apr 09
Wd-40 Company Revises Earnings Guidance for the Year 2025 WD-40 Company revised earnings guidance for the year 2025. For the year, the company expects Net sales growth from the pro-forma 2024 results continues to be projected to be between 6 % and 11 % with net sales between $600 million and $630 million after adjusting for estimated translation impacts of foreign currency. Operating income continues to be projected to be between $95 million and $100 million. This range reflects anticipated growth of between 6 % to 12 % compared to 2024 pro forma results. Diluted earnings per share have been increased and are now expected to be between $5.25 and $5.55 based on an estimated 13.5 million weighted average shares outstanding. This new range reflects anticipated growth of between 11 % to 17 % compared to 2024 pro forma results. Announcement • Jan 11
WD-40 Company Reiterates Earnings Guidance for the Fiscal Year 2025 WD-40 Company reiterated earnings guidance for the fiscal year 2025. For the period, the company's net sales growth is from the pro-forma 2024 results is projected to be between 6% and 11% with net sales between $600 million and $630 million after adjusting for estimated translation impacts of foreign currency. Operating income is projected to be between $95 million and $100 million. This range reflects anticipated growth of between 6% to 12% compared to 2024 pro forma results. Diluted earnings per share is expected to be between $5.20 and $5.45 based on an estimated 13.5 million weighted average shares outstanding. This range reflects anticipated growth of between 9% to 14% compared to 2024 pro forma results. Announcement • Dec 13
WD-40 Company Announces Board Changes WD-40 Company announced the appointment of Eric P. Etchart as non-executive chairman of the board of directors, effective December 12, 2024. Mr. Etchart succeeds Gregory A. Sandfort as chairman, who retired from the board following today’s 2024 Annual Meeting of Stockholders. Mr. Etchart will continue to serve on the Corporate Governance Committee and Finance Committee. Mr. Etchart joined the board of directors in 2016, bringing extensive experience in international finance, marketing, and management. He previously served as senior vice president at The Manitowoc Company Inc. from 2007 until his retirement in January 2016. Mr. Etchart is a French national and has held management positions in China, Singapore, Italy, France and the United States. He is recognized as an NACD Board Leadership Fellow and has earned qualifications in Climate Leadership and ESG Leadership. Gregory A. Sandfort has retired from the board after 13 years of dedicated service. Announcement • Nov 11
WD-40 Company, Annual General Meeting, Dec 12, 2024 WD-40 Company, Annual General Meeting, Dec 12, 2024. Reported Earnings • Oct 18
Full year 2024 earnings released: EPS: US$5.14 (vs US$4.84 in FY 2023) Full year 2024 results: EPS: US$5.14 (up from US$4.84 in FY 2023). Revenue: US$590.6m (up 9.9% from FY 2023). Net income: US$69.6m (up 6.0% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 18
Wd-40 Company Provides Earnings Guidance for Fiscal Year 2025 WD-40 Company provided Earnings Guidance for Fiscal Year 2025. For the period, the company expects Net sales growth from the 2024 pro forma results is projected to be between 6 and 11% with net sales expected to be between $600 million and $630 million on a non-GAAP constant currency basis. Operating income is projected to be between $95 million and $100 million. This range reflects anticipated growth of between 6 to 12% compared to 2024 pro forma results. Diluted earnings per share is expected to be between $5.20 and $5.45 based on an estimated 13.5 million weighted average shares outstanding. This range reflects anticipated growth of between 9 to 14% compared to 2024 pro forma results. Declared Dividend • Oct 09
Third quarter dividend of US$0.88 announced Shareholders will receive a dividend of US$0.88. Ex-date: 18th October 2024 Payment date: 31st October 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 10.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 21% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 05
WD-40 Company Declares Regular Quarterly Dividend, Payable on October 31, 2024 WD-40 Company announced that its board of directors declared on October 4, 2024 a quarterly dividend of $0.88 per share, payable October 31, 2024 to stockholders of record at the close of business on October 18, 2024. Announcement • Sep 27
WD-40 Company to Report Q4, 2024 Results on Oct 17, 2024 WD-40 Company announced that they will report Q4, 2024 results After-Market on Oct 17, 2024 Upcoming Dividend • Jul 12
Upcoming dividend of US$0.88 per share Eligible shareholders must have bought the stock before 19 July 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.6%). Reported Earnings • Jul 11
Third quarter 2024 earnings released: EPS: US$1.46 (vs US$1.39 in 3Q 2023) Third quarter 2024 results: EPS: US$1.46 (up from US$1.39 in 3Q 2023). Revenue: US$155.0m (up 9.4% from 3Q 2023). Net income: US$19.8m (up 5.5% from 3Q 2023). Profit margin: 13% (in line with 3Q 2023). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year and the company’s share price has also fallen by 2% per year. Announcement • Jul 11
WD-40 Company Reiterates Earnings Guidance for Fiscal Year 2024 WD-40 Company announced that the Company reiterated its guidance for fiscal year 2024: Net sales growth is projected to be between 6% and 12% with net sales expected to be between $570 million and $600 million on a non-GAAP constant currency basis. Net income is projected to be between $67.7 million and $71.8 million. Diluted earnings per share is expected to be between $5.00 and $5.30 based on an estimated 13.6 million weighted average shares outstanding. Announcement • Jul 05
WD-40 Precision Pen Debuts in Canada WD-40 Brand introduced its highly sought-after WD-40® Precision Pen to the Canadian market, now available at Home Depot stores nationwide. Crafted with insights from end users, the WD-40 Precision Pen presents a compact and portable design, delivering the Original WD-40 Formula with controlled flow and pinpoint precision. Ideal for tight spaces across projects of all sizes, the WD-40 Precision Pen seamlessly transitions from home to the jobsite, workshop or wherever the task leads. WD-40 Brand says the WD-40 Precision Pen offers: Versatility: with more than 1,000 uses, the trusted Original WD-40 Formula stops squeaks, protects against corrosion, loosens rusted parts, frees sticky mechanisms and drives out moisture. Pinpoint precision every time: apply the exact amount of product needed to small areas and tight spaces with ease. Controlled application: experience an easy, controlled flow of the Original WD-40 Formula due to the Precision Pen’s easy-to-hold design. Portable and pocket-sized: the pocket-sized Precision Pen fits perfectly in a tool belt, glovebox, or back pocket for quick fixes anytime, anywhere. Multi-purpose use: perfect for work, home, DIY projects, and on-the-go repairs, the Precision Pen is an all-in-one solution. The WD-40 Precision Pen is now available for purchase at Home Depot locations across Canada and online at Amazon.ca. Declared Dividend • Jun 24
Second quarter dividend of US$0.88 announced Shareholders will receive a dividend of US$0.88. Ex-date: 19th July 2024 Payment date: 31st July 2024 Dividend yield will be 1.6%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 19
Gregory A. Sandfort to Retire as a Director and as Non-Executive Chair of WD-40 Company WD-40 Company announced that Gregory A. Sandfort has provided notice to WD-40 Company’s board of directors that he will retire as a director and as non-executive chair of the company’s board as of the scheduled date of its next annual meeting of stockholders, December 12, 2024. Mr. Sandfort will continue to serve as chair of the board until the company’s annual meeting when his term expires. Following the annual meeting, the board intends to appoint independent director Eric P. Etchart as its non-executive chair. Mr. Sandfort was initially elected to the Company’s board in 2011 and has served as its chair since 2022. Prior to that, he served as lead independent director from 2020 to 2022. Mr. Sandfort served as chief executive officer of Tractor Supply Company from 2012 until his retirement in 2020. Mr. Etchart, who joined the board in 2016, currently serves as chair of the corporate governance committee and as a member of the finance committee. He had served as senior vice president of The Manitowoc Company Inc. from 2007 until his retirement in 2016. Mr. Etchart, a French national, has served as senior vice president, business development, from 2015 to 2016 and as president and general manager of the Manitowoc Crane Group from 2007 to 2015. He has also held senior management positions in China, Singapore, Italy, France, and the United States, which provides him with a robust understanding of international business. He is recognized as a NACD Board Leadership Fellow and has earned certifications in climate leadership and ESG leadership. Announcement • Jun 18
Wd-40 Company Declares Regular Quarterly Dividend, Payable on July 31, 2024 WD-40 Company announced that its board of directors declared on June 18, 2024 a quarterly dividend of $0.88 per share, payable July 31, 2024 to stockholders of record at the close of business on July 19, 2024. Upcoming Dividend • Apr 11
Upcoming dividend of US$0.88 per share Eligible shareholders must have bought the stock before 18 April 2024. Payment date: 30 April 2024. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.6%). Announcement • Apr 10
WD-40 Company Provides Earnings Guidance for the Year 2024 WD-40 Company provided earnings guidance for the year 2024. For the year, the company expects reiterating net sales growth between 6% and 12%, with net sales expected to be between $570 million and $600 million on a non-GAAP constant currency basis. Increasing net income to now be in the range of $67.7 million and $71.8 million, compared to prior guidance of between $65 million and $70 million. Increasing diluted earnings per share to now be in the range of $5.00 and $5.30, compared to prior guidance of between $4.78 and $5.15. Reported Earnings • Apr 10
Second quarter 2024 earnings released: EPS: US$1.15 (vs US$1.21 in 2Q 2023) Second quarter 2024 results: EPS: US$1.15 (down from US$1.21 in 2Q 2023). Revenue: US$139.1m (up 6.8% from 2Q 2023). Net income: US$15.5m (down 5.6% from 2Q 2023). Profit margin: 11% (down from 13% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Declared Dividend • Mar 24
First quarter dividend of US$0.88 announced Shareholders will receive a dividend of US$0.88. Ex-date: 18th April 2024 Payment date: 30th April 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 20
WD-40 Company Declares Regular Quarterly Dividend, Payable on April 30, 2024 WD-40 Company announced a quarterly dividend of $0.88 per share, payable April 30, 2024 to stockholders of record at the close of business on April 19, 2024. Announcement • Mar 05
WD-40 Company to Report Q2, 2024 Results on Apr 09, 2024 WD-40 Company announced that they will report Q2, 2024 results on Apr 09, 2024 Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €252, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 19x in the Household Products industry globally. Total returns to shareholders of 14% over the past three years. Upcoming Dividend • Jan 11
Upcoming dividend of US$0.88 per share at 1.3% yield Eligible shareholders must have bought the stock before 18 January 2024. Payment date: 31 January 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (2.6%). Announcement • Jan 10
WD-40 Company Reiterates Earnings Guidance for the Fiscal Year 2024 WD-40 Company reiterated earnings guidance for the fiscal year 2024. For the period, the company expects net sales growth is projected to be between 6% and 12% with net sales expected to be between $570 million and $600 million on a non-GAAP constant currency basis. Net income is projected to be between $65 million and $70 million. Diluted earnings per share is expected to be between $4.78 and $5.15 based on an estimated 13.6 million weighted average shares outstanding. Reported Earnings • Jan 10
First quarter 2024 earnings released: EPS: US$1.29 (vs US$1.03 in 1Q 2023) First quarter 2024 results: EPS: US$1.29 (up from US$1.03 in 1Q 2023). Revenue: US$140.4m (up 12% from 1Q 2023). Net income: US$17.5m (up 25% from 1Q 2023). Profit margin: 13% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 2% per year. Announcement • Nov 03
WD-40 Company, Annual General Meeting, Dec 12, 2023 WD-40 Company, Annual General Meeting, Dec 12, 2023, at 10:00 Pacific Standard Time. Agenda: To elect a Board of Directors for the ensuing year and until their successors are elected and qualified; to hold an advisory vote to approve executive compensation; to hold an advisory vote on the frequency of future advisory votes on executive compensation; to approve the Company’s Amended and Restated 2016 Stock Incentive Plan to increase the shares reserved for issuance thereunder; to ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for fiscal year 2024; and to consider and act upon such other business as may properly come before the annual meeting. Reported Earnings • Oct 21
Full year 2023 earnings released: EPS: US$4.86 (vs US$4.91 in FY 2022) Full year 2023 results: EPS: US$4.86 (down from US$4.91 in FY 2022). Revenue: US$537.3m (up 3.6% from FY 2022). Net income: US$66.0m (down 1.6% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year. Announcement • Oct 20
WD-40 Company Provides Earnings Guidance for the Fiscal Year 2024 WD-40 Company provided earnings guidance for the fiscal year 2024. For the year, the company expects net sales growth to be between 6% to 12% with net sales expects to be between $570 million to $600 million on a non-GAAP constant currency basis. Net income to be between $65 million to $70 million. Diluted earnings per share expects to be between $4.78 to $5.15 based on an estimated 13.6 million weighted average shares outstanding. New Risk • Jul 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (47% net debt to equity). Share price has been volatile over the past 3 months (6.6% average weekly change). Reported Earnings • Jul 11
Third quarter 2023 earnings released: EPS: US$1.39 (vs US$1.06 in 3Q 2022) Third quarter 2023 results: EPS: US$1.39 (up from US$1.06 in 3Q 2022). Revenue: US$141.7m (up 15% from 3Q 2022). Net income: US$18.9m (up 31% from 3Q 2022). Profit margin: 13% (up from 12% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year. Upcoming Dividend • Jul 06
Upcoming dividend of US$0.83 per share at 1.8% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 73% but the company is paying out more than the cash it is generating. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.4%). Recent Insider Transactions • Apr 17
CEO, President & Director recently bought €90k worth of stock On the 13th of April, Steven Brass bought around 558 shares on-market at roughly €162 per share. This transaction amounted to 5.4% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €92k. Steven has been a buyer over the last 12 months, purchasing a net total of €282k worth in shares. Reported Earnings • Apr 09
Second quarter 2023 earnings released: EPS: US$1.21 (vs US$1.42 in 2Q 2022) Second quarter 2023 results: EPS: US$1.21 (down from US$1.42 in 2Q 2022). Revenue: US$130.2m (flat on 2Q 2022). Net income: US$16.5m (down 15% from 2Q 2022). Profit margin: 13% (down from 15% in 2Q 2022). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Upcoming Dividend • Apr 06
Upcoming dividend of US$0.83 per share at 1.9% yield Eligible shareholders must have bought the stock before 13 April 2023. Payment date: 28 April 2023. Payout ratio is a comfortable 69% but the company is paying out more than the cash it is generating. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.4%). Recent Insider Transactions • Jan 22
CEO, President & Director recently bought €92k worth of stock On the 18th of January, Steven Brass bought around 586 shares on-market at roughly €158 per share. This transaction amounted to 6.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €99k. Steven has been a buyer over the last 12 months, purchasing a net total of €192k worth in shares. Announcement • Jan 10
WD-40 Company Reiterates Earnings Guidance for Fiscal Year 2023 WD-40 Company reiterated earnings guidance for fiscal year 2023. For the year, net sales growth is projected to be between 5% and 10% with net sales expected to be between $545 million and $570 million. Net income is projected to be between $69.0 million and $71.0 million. Diluted earnings per share is expected to be between $5.09 and $5.24 based on an estimated 13.6 million weighted average shares outstanding. Reported Earnings • Jan 10
First quarter 2023 earnings released: EPS: US$1.03 (vs US$1.35 in 1Q 2022) First quarter 2023 results: EPS: US$1.03 (down from US$1.35 in 1Q 2022). Revenue: US$124.9m (down 7.3% from 1Q 2022). Net income: US$14.0m (down 24% from 1Q 2022). Profit margin: 11% (down from 14% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jan 05
Upcoming dividend of US$0.83 per share Eligible shareholders must have bought the stock before 12 January 2023. Payment date: 31 January 2023. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (2.4%). Recent Insider Transactions • Oct 27
Managing Director of Asia-Pacific recently sold €408k worth of stock On the 24th of October, Geoffrey Holdsworth sold around 3k shares on-market at roughly €154 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €321k more than they bought in the last 12 months. Reported Earnings • Oct 22
Full year 2022 earnings released: EPS: US$4.93 (vs US$5.11 in FY 2021) Full year 2022 results: EPS: US$4.93 (down from US$5.11 in FY 2021). Revenue: US$518.8m (up 6.3% from FY 2021). Net income: US$67.3m (down 3.7% from FY 2021). Profit margin: 13% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Household Products industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Oct 20
WD-40 Company Provides Earnings Guidance for the Fiscal Year 2023 WD-40 Company provided earnings guidance for the fiscal year 2023. For the year, the company announced that net sales growth is projected to be between 5% and 10% with net sales expected to be between $545 million and $570 million. Net income is projected to be between $69.0 million and $71.0 million. Diluted earnings per share is expected to be between $5.09 and $5.24 based on an estimated 13.6 million weighted average shares outstanding. Announcement • Oct 16
Wd-40 Company Approves Promotion of William B. Noble as Group Managing Director, Effective November 1, 2022 On October 10, 2022, the compensation committee of WD-40 Company’s board of directors approved certain changes to the compensation arrangements of William B. Noble, a named executive officer, in connection with his promotion to Group Managing Director and additional responsibilities that he will undertake, the effective date of which is November 1, 2022. Such arrangements include the following: (i) an increase of 10% in annual base salary from $326,067 to $358,674; (ii) a retention-based equity award of 649 restricted stock units (“RSUs”) under the 2016 Stock Incentive Plan; (iii) a long-term performance-based equity award of 649 market share units (“MSUs”), the determination of whether such award will vest will not occur until October 2025; and (iv) a short-term performance-based equity award of 1,138 performance share units (“PSUs”) that is tied to WD-40 Company exceeding its fiscal year 2023 maximum performance goals, which, if exceeded, would result in the issuance of restricted common stock in October 2023. Announcement • Oct 12
WD-40 Company Declares Regular Quarterly Dividend, Payable on October 31, 2022 WD-40 Company announced that its board of directors declared on October 11, 2022 a quarterly dividend of $0.78 per share, payable October 31, 2022 to stockholders of record at the close of business on October 21, 2022. Announcement • Sep 29
WD-40 Company to Report Q4, 2022 Results on Oct 19, 2022 WD-40 Company announced that they will report Q4, 2022 results After-Market on Oct 19, 2022 Recent Insider Transactions • Aug 07
Independent Director recently bought €87k worth of stock On the 4th of August, Eric Etchart bought around 500 shares on-market at roughly €174 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €555k more in shares than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €169, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 21x in the Household Products industry globally. Total returns to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €91.13 per share. Reported Earnings • Jul 09
Third quarter 2022 earnings released: EPS: US$1.06 (vs US$1.53 in 3Q 2021) Third quarter 2022 results: EPS: US$1.06 (down from US$1.53 in 3Q 2021). Revenue: US$123.7m (down 9.3% from 3Q 2021). Net income: US$14.4m (down 31% from 3Q 2021). Profit margin: 12% (down from 15% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 7.9%, compared to a 6.4% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year. Announcement • Jul 08
WD-40 Company Provides Earnings Guidance for the Fiscal Year 2022 WD-40 Company provided earnings guidance for the fiscal year 2022. Net sales growth is projected to be between 6% and 9% with net sales expected to be between $519 million and $532 million. Net income is projected to be between $69.0 million and $70.1 million. Diluted earnings per share is expected to be between $5.02 and $5.10 based on an estimated 13.7 million weighted average shares outstanding. Upcoming Dividend • Jul 07
Upcoming dividend of US$0.78 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.8%). Announcement • Jun 23
WD-40 Company Announces Board Changes WD-40 Company announced that Edward O. Magee, Jr. has been appointed to its board of directors, effective June 20, 2022. The board of directors appointed Mr. Magee to serve as a member of the Audit and Finance Committees. In addition, the Company announced that Cynthia B. Burks has been nominated for election to its board of directors at the Company's 2022 annual meeting of stockholders. As previously disclosed, Garry Ridge will be retiring from the board of directors in December 2022. Mr. Ridge will continue to serve as chairman of the board of directors until the Company's 2022 annual meeting of stockholders, when his term expires. Mr. Magee currently serves as executive vice president, operations at Fender Musical Instruments Corporation, a privately held musical instruments company owned by majority stakeholder Servco Pacific Inc. He served as senior vice president, operations at Fender from 2016 to 2020. Mr. Magee served as vice president of operations and distribution for Thomas & Betts Corporation, presently ABB Installation Products Inc., from 2014 to 2016 and in various management roles in vehicle operations at Harley-Davidson Motor Company from 2004 to 2014. He has extensive non-profit board experience including the Board of Visitors at Duke University'sFuqua School of Business, the Fender Play Foundation™, Boys & Girls Clubs of Metro LA, and an advisory role for the National Association of Manufacturers, "Heroes MAKE America" veterans transition program. Prior to his corporate executive experience, Mr. Magee served as a combat-decorated Lieutenant Colonel aviator in the U.S. Marine Corps. Ms. Burks most recently served as senior vice president and chief people and culture officer at Genentech Inc., a subsidiary of Roche Holding AG, which she joined in 2011. She served as vice president, head of human resources at Genentech Research and Early Development from 2015 to 2019, and in various human resource management roles at Genentech from 2011 to 2015. From 1999 to 2011, Ms. Burks held various human resource and organizational development positions across a variety of industries including media, consumer goods and technology. She serves on the board of directors of Torch, a privately held company offering integrated coaching, mentoring and learning software, and two non-profit organizations, Juma Ventures and Summer Search. Ms. Burks also served as a board member of Genentech Foundation from 2020 to 2022. On June 20, 2022, WD-40 Company's board of directors adopted a resolution to increase the size of the board from 11 to 12 directors, effective immediately. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. President, COO & Director Steve Brass was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 08
Second quarter 2022 earnings released: EPS: US$1.43 (vs US$1.25 in 2Q 2021) Second quarter 2022 results: EPS: US$1.43 (up from US$1.25 in 2Q 2021). Revenue: US$130.0m (up 16% from 2Q 2021). Net income: US$19.5m (up 14% from 2Q 2021). Profit margin: 15% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 6.2%, compared to a 3.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 3% per year. Announcement • Apr 08
WD-40 Company Provides Earnings Guidance for the Fiscal Year 2022 WD-40 Company provided earnings guidance for the fiscal year 2022. For the year, the company expects net sales growth to be between 7% to 12% with net sales to be between $522 million to $547 million. Net income to be between $70.7 million to $72.5 million. Diluted earnings per share to be between $5.14 to $5.27 based on an estimated 13.7 million weighted average shares outstanding. This guidance is based on management's current view of anticipated results and does not include any future acquisitions or divestitures or the impact of fluctuating foreign currency exchange rates. It assumes crude oil costs will be between $100 to $120 per barrel. Unanticipated inflationary headwinds and other unforeseen events may further impact the company's financial results. Upcoming Dividend • Apr 06
Upcoming dividend of US$0.78 per share Eligible shareholders must have bought the stock before 13 April 2022. Payment date: 29 April 2022. Payout ratio is a comfortable 62% and the cash payout ratio is 84%. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.8%). Lower than average of industry peers (3.0%). Announcement • Jan 07
WD-40 Company Provides Earnings Guidance for Fiscal Year 2022 WD-40 Company provided earnings guidance for fiscal year 2022. For the year, the company expects net sales growth is projected to be between 7% and 12% with net sales expected to be between $522 million and $547 million. Net income is projected to be between $71.7 million and $73.6 million. Diluted earnings per share is expected to be between $5.24 and $5.38 based on an estimated 13.7 million weighted average shares outstanding. Reported Earnings • Jan 07
First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2022 results: EPS: US$1.35 (down from US$1.72 in 1Q 2021). Revenue: US$134.7m (up 8.2% from 1Q 2021). Net income: US$18.6m (down 21% from 1Q 2021). Profit margin: 14% (down from 19% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 6.8% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jan 06
Upcoming dividend of US$0.78 per share Eligible shareholders must have bought the stock before 13 January 2022. Payment date: 31 January 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (2.6%). Recent Insider Transactions • Oct 28
Insider recently sold €642k worth of stock On the 22nd of October, Richard Clampitt sold around 3k shares on-market at roughly €188 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €11m more than they bought in the last 12 months. Reported Earnings • Oct 20
Full year 2021 earnings released: EPS US$5.13 (vs US$4.41 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: US$488.1m (up 20% from FY 2020). Net income: US$70.2m (up 16% from FY 2020). Profit margin: 14% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 11% per year. Recent Insider Transactions • Jul 23
Chairman & CEO recently sold €10m worth of stock On the 21st of July, Garry Ridge sold around 48k shares on-market at roughly €211 per share. This was the largest sale by an insider in the last 3 months. This was Garry's only on-market trade for the last 12 months. Reported Earnings • Jul 09
Third quarter 2021 earnings released: EPS US$1.53 (vs US$1.06 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: US$136.4m (up 39% from 3Q 2020). Net income: US$20.9m (up 45% from 3Q 2020). Profit margin: 15% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 09
Upcoming dividend of US$0.72 per share Eligible shareholders must have bought the stock before 15 July 2021. Payment date: 30 July 2021. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.4%). 
