WD-40 Co. Files 2024 Annual Report

TL;DR

WD40 filed its 2024 10-K. Looks solid.

AI Summary

WD-40 Company filed its 10-K for the fiscal year ending August 31, 2024, reporting on its financial performance and business operations. The company, headquartered in San Diego, CA, operates in the miscellaneous chemical products sector. Key financial details and operational highlights from the filing will provide insights into the company's standing.

Why It Matters

This filing provides investors and the public with a comprehensive overview of WD-40 Company's financial health, strategic initiatives, and risk factors for the past fiscal year.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.

Key Numbers

• 20240831 — Fiscal Year End (The period covered by the 10-K filing.)
• 20241021 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• WD 40 CO (company) — Filer of the 10-K
• 20240831 (date) — Fiscal year end
• San Diego, CA (location) — Company headquarters
• 9715 Businesspark Avenue (address) — Company business and mailing address

FAQ

Key Financial Figures

• $0.001 — ich registered Common stock, par value $0.001 per share WDFC NASDAQ Global Select Mar

Filing Documents

• wdfc-20240831.htm (10-K) — 1754KB
• wdfc-20240831xex10_b.htm (EX-10.B) — 38KB
• wdfc-20240831xex10_k.htm (EX-10.K) — 32KB
• wdfc-20240831xex10_l.htm (EX-10.L) — 56KB
• wdfc-20240831xex10_m.htm (EX-10.M) — 39KB
• wdfc-20240831xex19.htm (EX-19) — 76KB
• wdfc-20240831xex21.htm (EX-21) — 14KB
• wdfc-20240831xex23.htm (EX-23) — 2KB
• wdfc-20240831xex31_a.htm (EX-31.A) — 9KB
• wdfc-20240831xex31_b.htm (EX-31.B) — 10KB
• wdfc-20240831xex32_a.htm (EX-32.A) — 4KB
• wdfc-20240831xex32_b.htm (EX-32.B) — 5KB
• 0000105132-24-000064.txt ( ) — 9600KB
• wdfc-20240831.xsd (EX-101.SCH) — 57KB
• wdfc-20240831_cal.xml (EX-101.CAL) — 101KB
• wdfc-20240831_def.xml (EX-101.DEF) — 276KB
• wdfc-20240831_lab.xml (EX-101.LAB) — 761KB
• wdfc-20240831_pre.xml (EX-101.PRE) — 565KB
• wdfc-20240831_htm.xml (XML) — 1351KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 6 Item 1B. Unresolved Staff Comments 17 I tem 1C. C ybersecurity 17 Item 2.

Properties

Properties 18 Item 3.

Legal Proceedings

Legal Proceedings 18 Item 4. Mine Safety Disclosures 19 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 20 Item 6. Reser ved 20 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 36 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 36 Item 9A.

Controls and Procedures

Controls and Procedures 36 Item 9B. Other Information 37 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 37 PART III Item 10. Directors, Executive Officers and Corporate Governance 38 Item 11.

Executive Compensation

Executive Compensation 38 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 38 Item 13. Certain Relationships and Related Transactions, and Director Independence 38 Item 14. Principal Accountant Fees and Services 38 PART IV Item 15. Exhibits, Financial Statement Schedules 39 Item 16. Form 10-K Summary 41 Table of Contents PART I

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements which reflect our current views with respect to future events and financial performance. These forward-looking statements include, but are not limited to, discussions about future financial and operating results, including: expected benefits from the acquisition or divestiture transaction; acquired business not performing as expected; assuming unexpected risks, liabilities and obligations of the acquired business; disruption to the parties' business as a result of the announcement and acquisition or divestiture transaction; integration of acquired business and operations into the Company; the Company's ability to successfully complete any planned divestiture; expected timing of the closing for the divestiture; expected proceeds from the divestiture; the intended use of proceeds by the Company from the divestiture transaction; impact of the divestiture transaction on the Company's stock price or EPS; growth expectations for maintenance products; expected levels of promotional and advertising spending; anticipated input costs for manufacturing and the costs associated with distribution of our products; plans for and success of product innovation, the impact of new product introductions on the growth of sales; anticipated results from product line extension sales; expected tax rates and the impact of tax legislation and regulatory action; changes in the political conditions or relations between the United States and other nations, the impacts from inflationary trends and supply chain constraints; changes in interest rates; and forecasted foreign currency exchange rates and commodity prices. We undertake no obligation to revise or update any forward-looking statements. These forward-looking stat

Business

Item 1. Business Overview WD-40 Company is 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. The Company was founded in 1953 and is headquartered in San Diego, California. For more than four decades, we sold only one product, WD-40 Multi-Use Product, a maintenance product which acts as a lubricant, rust preventative, penetrant and moisture displacer. Over the last several decades, we have evolved and expanded our product offerings through both research and development activities and through the acquisition of several brands worldwide. As a result, we have built a family of brands and product lines that deliver high quality performance at a good value to our end users. We currently market and sell our products in more than 176 countries and territories worldwide primarily through hardware stores, automotive parts outlets, industrial distributors and suppliers, mass retail and home center stores, value retailers, grocery stores, online retailers, warehouse club stores, farm supply, sport retailers, and independent bike dealers. Our sales come from two product groups – maintenance products and homecare and cleaning products. Maintenance products are sold worldwide in markets throughout North, Central and South America, Asia, Australia, Europe, India, the Middle East and Africa. Homecare and cleaning products are sold primarily in North America, the United Kingdom ("U.K.") and Australia. We are continuing to conduct a strategic review regarding the future of our homecare and cleaning product portfolios in the Americas and EIMEA segments and are pursuing the sale of these portfolios in fiscal year 2025. This potential sale will allow us to focus on our core, higher-margin maintenance products that are included in our strategic framework. The principal driver of our sales growth is focused on our maintenance products and making them

View Full Filing

View this 10-K filing on SEC EDGAR