WD-40 Company Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>WD-40 Company has filed its Q2 2024 10-Q report, detailing financial performance for the quarter ending February 29, 2024.</b>

AI Summary

WD 40 CO (WDFC) filed a Quarterly Report (10-Q) with the SEC on April 9, 2024. WD-40 Company filed its quarterly report on Form 10-Q for the period ended February 29, 2024. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on August 31st. The filing was made on April 9, 2024. WD-40 Company is classified under the SIC code 2890 (Miscellaneous Chemical Products).

Why It Matters

For investors and stakeholders tracking WD 40 CO, this filing contains several important signals. This 10-Q filing provides investors with the latest financial data and operational updates for WD-40 Company, crucial for assessing its current performance and future outlook. Understanding the details within this report allows stakeholders to evaluate the company's financial health, profitability, and any potential risks or opportunities.

Risk Assessment

Risk Level: low — WD 40 CO shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand WD-40 Company's performance trends and strategic initiatives.

Key Numbers

• 2024-02-29 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-04-09 — Filing Date (FILED AS OF DATE)
• 0831 — Fiscal Year End (FISCAL YEAR END)
• 2890 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• WD 40 CO (company) — FILER
• 0000105132 (company) — CENTRAL INDEX KEY
• 2890 (regulator) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (company) — STATE OF INCORPORATION
• 951797918 (company) — IRS NUMBER
• CA (company) — STATE
• 6192751400 (company) — BUSINESS PHONE
• 20240229 (dollar_amount) — CONFORMED PERIOD OF REPORT

FAQ

Industry Context

WD-40 Company operates in the miscellaneous chemical products industry, focusing on maintenance and cleaning solutions.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded entities, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ended February 29, 2024.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business performance and outlook.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-02-29: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-09: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing for the period ending February 29, 2024. Comparative data from previous periods will be found within the detailed financial statements.

Key Financial Figures

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

Filing Documents

• wdfc-20240229.htm (10-Q) — 1360KB
• wdfc-20240229xex31_a.htm (EX-31.A) — 10KB
• wdfc-20240229xex31_b.htm (EX-31.B) — 10KB
• wdfc-20240229xex32_a.htm (EX-32.A) — 5KB
• wdfc-20240229xex32_b.htm (EX-32.B) — 4KB
• 0000105132-24-000021.txt (&nbsp;) — 5970KB
• wdfc-20240229.xsd (EX-101.SCH) — 37KB
• wdfc-20240229_cal.xml (EX-101.CAL) — 66KB
• wdfc-20240229_def.xml (EX-101.DEF) — 110KB
• wdfc-20240229_lab.xml (EX-101.LAB) — 483KB
• wdfc-20240229_pre.xml (EX-101.PRE) — 315KB
• wdfc-20240229_htm.xml (XML) — 863KB

— 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 8 Notes to Condensed Consolidated Financial Statements 9 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 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 38

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39

Other Information

Item 5. Other Information 39 Item 6. Exhibits 40 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) February 29, 2024 August 31, 2023 Assets Current assets: Cash and cash equivalents $ 55,443 $ 48,143 Trade and other accounts receivable, net 104,794 98,039 Inventories 78,029 86,522 Other current assets 12,248 15,821 Total current assets 250,514 248,525 Property and equipment, net 64,575 66,791 Goodwill 95,499 95,505 Other intangible assets, net 4,165 4,670 Right-of-use assets 10,968 7,820 Deferred tax assets, net 1,189 1,201 Other assets 15,111 13,454 Total assets $ 442,021 $ 437,966 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 32,405 $ 30,826 Accrued liabilities 31,710 30,000 Accrued payroll and related expenses 14,869 16,722 Short-term borrowings 29,790 10,800 Income taxes payable 1,657 494 Total current liabilities 110,431 88,842 Long-term borrowings 85,894 109,743 Deferred tax liabilities, net 10,987 10,305 Long-term operating lease liabilities 5,509 5,832 Other long-term liabilities 12,922 13,066 Total liabilities 225,743 227,788 Commitments and Contingencies (Note 12) Stockholders' equity: Common stock — authorized 36,000,000 shares, $ 0.001 par value; 19,920,049 and 19,905,815 shares issued at February 29, 2024 and August 31, 2023, respectively; and 13,554,668 and 13,563,434 shares outstanding at February 29, 2024 and August 31, 2023, respectively 20 20 Additional paid-in capital 173,263 171,546 Retained earnings 487,233 477,488 Accumulated other comprehensive loss ( 31,249 ) ( 31,206 ) Common stock held in treasury, at cost — 6,365,381 and 6,342,381 shares at February 29, 2024 and August 31, 2023, respectively ( 412,989 ) ( 407,670 ) Total stockholders' equity 216,278 210,178 Total liabilities and stockholders' equity $ 442,021 $ 437,966 See accompanying notes to condensed consolidated financial statements (unaudited). 3 Table of

View Full Filing

View this 10-Q filing on SEC EDGAR