WD-40 Company (NASDAQ:WDFC) Q3 2019 Earnings Conference Call Transcript

Jul 09, 2019 • 05:00 pm ET

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WD-40 Company (NASDAQ:WDFC) Q3 2019 Earnings Conference Call Transcript

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Presentation
Executive
Jay Rembolt

turn it now back to Garry.

Executive
Garry O. Ridge

Hey, thanks, Jay. In summary, what did you hear from us on the call today? You heard that both our sales and earnings for the third quarter reflect new records for the Company. You heard that global sales of WD-40 Multi-Use Product were up 7% in the third quarter. You heard that global sales of WD-40 Specialist grew 8% in the third quarter. You heard that we continue to increase penetration of Smart Straw and distribution of the WD-40 EZ-REACH Flexible.

You heard that Linda Lang has announced her retirement from our board of directors and that I expect to be stepping into her Board Chair position beginning in December. You heard that we've promoted Steve Brass to the role of President and Chief Operating Officer, and Patricia Olsem to the role of Division President-Americas. You heard that our net sales guidance remains unchanged, but we have strengthened our guidance for net income and EPS.

In closing, I'd like to share with you a quote today from Anne Mulcahy: one of the things we often miss in succession planning is that it should be gradual and thoughtful, with lots of sharing of information and knowledge and perspective, so it's almost a nonevent when it happens. Thank you for joining us today, and we'd be pleased to open the conference call to your questions.