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WD-40 Company (WDFC-0.24%) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing includes financial statements for the quarter, showing an increase in net sales to $153.5 million from $140.4 million in the same quarter the previous year. The increase is attributed to higher sales volumes and favorable foreign currency exchange rates.
Gross profit for the quarter was $84.1 million, representing 54.8% of net sales, compared to 53.8% in the same quarter of the previous year. This increase in gross margin is due to favorable sales mix and lower costs of specialty chemicals.
Operating expenses for the quarter were $58.965 million, up from $51.369 million, primarily due to increases in employee-related costs and professional services fees.
Net income for the quarter was $18.925 million, up from $17.482 million in the previous year. Diluted earnings per share were $1.39, compared to $1.28 in the previous year.
Cash provided by operating activities was $14.930 million, while cash used in investing and financing activities was $567,000 and $4.097 million, respectively.
WD-40 Company reported a total of $54.914 million in cash and cash equivalents as of November 30, 2024.
The filing also details the reclassification of certain homecare and cleaning product businesses as held for sale, with total assets held for sale valued at $9.865 million.
The company announced a 7% increase in its regular quarterly cash dividend, raising it from $0.88 per share to $0.94 per share.
WD-40 Company continues to focus on expanding its maintenance product lines and optimizing its global distribution channels.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the WD-40 Company quarterly 10-Q report dated January 10, 2025. To report an error, please email earnings@qz.com.