WD 40 CO Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>WD 40 CO filed its Q1 2024 10-Q report on January 9, 2024, detailing financial performance for the quarter ending November 30, 2023.</b>

AI Summary

WD 40 CO (WDFC) filed a Quarterly Report (10-Q) with the SEC on January 9, 2024. The filing is a 10-Q report for WD 40 CO covering the period from September 1, 2023, to November 30, 2023. The company's fiscal year ends on August 31. The filing was submitted on January 9, 2024. The company is incorporated in Delaware. The business and mailing address is 9715 Businesspark Avenue, San Diego, CA 92131.

Why It Matters

For investors and stakeholders tracking WD 40 CO, this filing contains several important signals. This 10-Q provides investors with an update on WD 40 CO's financial health and operational performance for the first fiscal quarter of 2024. The detailed financial information within the report is crucial for understanding the company's revenue, expenses, and overall financial position as it navigates the current market conditions.

Risk Assessment

Risk Level: — WD 40 CO shows moderate risk based on this filing. The filing is a routine quarterly report (10-Q) and does not contain any immediately apparent significant negative events or disclosures that would suggest a high or medium risk.

Analyst Insight

Monitor future filings for trends in revenue, profitability, and any changes in risk factors to assess the company's ongoing performance.

Key Numbers

• 2023-11-30 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-01-09 — Filing Date (FILED AS OF DATE)
• 0831 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• WD 40 CO (company) — FILER
• DE (company) — STATE OF INCORPORATION
• CA (company) — STATE
• 2023-11-30 (date) — CONFORMED PERIOD OF REPORT
• 2024-01-09 (date) — FILED AS OF DATE

Forward-Looking Statements

• WD-40 Co. will likely continue to show positive retained earnings growth in the next quarter. (WD 40 CO) — medium confidence, target: 2024-02-29

FAQ

Industry Context

WD 40 CO operates in the miscellaneous chemical products sector, specifically focusing on industrial applications and services.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file quarterly reports (10-Q) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Compare the reported figures for the quarter ending November 30, 2023, with previous periods to identify trends.
3. Note any specific disclosures regarding business operations, risks, or legal proceedings mentioned in the filing.

Key Dates

• 2024-01-09: Filing Date — Submission of the 10-Q report for the period ending November 30, 2023.
• 2023-11-30: Period End Date — End of the fiscal first quarter for which financial results are reported.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending November 30, 2023. Previous filings would need to be consulted for comparison.

Key Financial Figures

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

Filing Documents

• wdfc-20231130.htm (10-Q) — 1016KB
• wdfc-20231130xex31_a.htm (EX-31.A) — 10KB
• wdfc-20231130xex31_b.htm (EX-31.B) — 10KB
• wdfc-20231130xex32_a.htm (EX-32.A) — 5KB
• wdfc-20231130xex32_b.htm (EX-32.B) — 4KB
• 0000105132-24-000006.txt (&nbsp;) — 5271KB
• wdfc-20231130.xsd (EX-101.SCH) — 37KB
• wdfc-20231130_cal.xml (EX-101.CAL) — 67KB
• wdfc-20231130_def.xml (EX-101.DEF) — 110KB
• wdfc-20231130_lab.xml (EX-101.LAB) — 517KB
• wdfc-20231130_pre.xml (EX-101.PRE) — 313KB
• wdfc-20231130_htm.xml (XML) — 673KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Page Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32

Other Information

Item 5. Other Information 32 Item 6. Exhibits 33 2 Table of Contents PART 1 — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements WD-40 COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited and in thousands, except share and per share amounts) November 30, 2023 August 31, 2023 Assets Current assets: Cash and cash equivalents $ 50,317 $ 48,143 Trade and other accounts receivable, net 95,118 98,039 Inventories 81,603 86,522 Other current assets 10,619 15,821 Total current assets 237,657 248,525 Property and equipment, net 65,704 66,791 Goodwill 95,513 95,505 Other intangible assets, net 4,419 4,670 Right-of-use assets 11,483 7,820 Deferred tax assets, net 1,194 1,201 Other assets 14,636 13,454 Total assets $ 430,606 $ 437,966 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 28,432 $ 30,826 Accrued liabilities 27,787 30,000 Accrued payroll and related expenses 15,785 16,722 Short-term borrowings 24,456 10,800 Income taxes payable 2,360 494 Total current liabilities 98,820 88,842 Long-term borrowings 86,173 109,743 Deferred tax liabilities, net 10,921 10,305 Long-term operating lease liabilities 5,793 5,832 Other long-term liabilities 12,967 13,066 Total liabilities 214,674 227,788 Commitments and Contingencies (Note 12) Stockholders' equity: Common stock — authorized 36,000,000 shares, $ 0.001 par value; 19,911,495 and 19,905,815 shares issued at November 30, 2023 and August 31, 2023, respectively; and 13,557,614 and 13,563,434 shares outstanding at November 30, 2023 and August 31, 2023, respectively 20 20 Additional paid-in capital 173,139 171,546 Retained earnings 483,673 477,488 Accumulated other comprehensive loss ( 30,816 ) ( 31,206 ) Common stock held in treasury, at cost — 6,353,881 and 6,342,381 shares at November 30, 2023 and August 31, 2023, respectively ( 410,084 ) ( 407,670 ) Total stockholders' equity 215,932 210,178 Total liabilities and stockholders' equity $ 430,606 $ 437,966 See accompanying notes to condensed consolidated financial statements (unaudited). 3 Table of C

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View this 10-Q filing on SEC EDGAR