WD-40 Co. Files Q3 2024 10-Q

TL;DR

WD-40 filed its Q3 10-Q, check financials for the period ending May 31, 2024.

AI Summary

WD-40 Company filed its 10-Q for the period ending May 31, 2024. The filing covers the third quarter of their fiscal year. Key financial data and operational details for this period are presented, reflecting the company's performance in the miscellaneous chemical products sector.

Why It Matters

This filing provides investors with an update on WD-40 Company's financial health and operational performance for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated.

Key Players & Entities

• WD-40 Company (company) — Filer of the 10-Q
• 20240531 (date) — End of the reporting period
• 20240710 (date) — Filing date
• 9715 BUSINESSPARK AVENUE, SAN DIEGO, CA 92131 (address) — Company's 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-20240531.htm (10-Q) — 1465KB
• wdfc-20240531xex31_a.htm (EX-31.A) — 10KB
• wdfc-20240531xex31_b.htm (EX-31.B) — 10KB
• wdfc-20240531xex32_a.htm (EX-32.A) — 5KB
• wdfc-20240531xex32_b.htm (EX-32.B) — 4KB
• 0000105132-24-000045.txt ( ) — 6654KB
• wdfc-20240531.xsd (EX-101.SCH) — 40KB
• wdfc-20240531_cal.xml (EX-101.CAL) — 75KB
• wdfc-20240531_def.xml (EX-101.DEF) — 137KB
• wdfc-20240531_lab.xml (EX-101.LAB) — 528KB
• wdfc-20240531_pre.xml (EX-101.PRE) — 356KB
• wdfc-20240531_htm.xml (XML) — 972KB

— 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) May 31, 2024 August 31, 2023 Assets Current assets: Cash and cash equivalents $ 45,300 $ 48,143 Trade and other accounts receivable, net 116,434 98,039 Inventories 76,576 86,522 Other current assets 10,453 15,821 Total current assets 248,763 248,525 Property and equipment, net 63,903 66,791 Goodwill 96,927 95,505 Other intangible assets, net 6,682 4,670 Right-of-use assets 11,590 7,820 Deferred tax assets, net 1,197 1,201 Other assets 14,548 13,454 Total assets $ 443,610 $ 437,966 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 32,377 $ 30,826 Accrued liabilities 29,697 30,000 Accrued payroll and related expenses 18,740 16,722 Short-term borrowings 22,316 10,800 Income taxes payable 2,111 494 Total current liabilities 105,241 88,842 Long-term borrowings 85,473 109,743 Deferred tax liabilities, net 10,844 10,305 Long-term operating lease liabilities 6,072 5,832 Other long-term liabilities 13,738 13,066 Total liabilities 221,368 227,788 Commitments and Contingencies (Note 13) Stockholders' equity: Common stock — authorized 36,000,000 shares, $ 0.001 par value; 19,924,268 and 19,905,815 shares issued at May 31, 2024 and August 31, 2023, respectively; and 13,547,637 and 13,563,434 shares outstanding at May 31, 2024 and August 31, 2023, respectively 20 20 Additional paid-in capital 174,177 171,546 Retained earnings 495,109 477,488 Accumulated other comprehensive loss ( 31,300 ) ( 31,206 ) Common stock held in treasury, at cost — 6,376,631 and 6,342,381 shares at May 31, 2024 and August 31, 2023, respectively ( 415,764 ) ( 407,670 ) Total stockholders' equity 222,242 210,178 Total liabilities and stockholders' equity $ 443,610 $ 437,966 See accompanying notes to condensed consolidated financial statements (unaudited). 3 Table of Contents WD-40 COM

View Full Filing

View this 10-Q filing on SEC EDGAR