WDFC WD 40 Company

~ Global net sales grew 11 percent in the fourth quarter compared to the prior year fiscal quarter ~ ~ Management issues fiscal year 2025 guidance ~

WD-40 Company (NASDAQ:WDFC), a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world, today reported financial results for its fourth quarter and fiscal year ended August 31, 2024.

Fourth Quarter Highlights and Summary:

• Total net sales were $156.0 million, an increase of 11 percent compared to the prior year fiscal quarter.
• Excluding the impact of foreign currency exchange rates, net sales would have increased 11 percent to $156.5 million compared to the prior year fiscal quarter.(1)
• Total maintenance product sales were $147.5 million, an increase of 12 percent compared to the prior year fiscal quarter.
• Gross margin was 54.1 percent compared to 51.4 percent in the prior year fiscal quarter.
• Selling, general, and administrative expenses were $49.1 million, up 27 percent compared to the prior year fiscal quarter.
• Advertising and sales promotion expenses were $10.9 million, up 11 percent compared to the prior year fiscal quarter.
• Net income was $16.8 million, an increase of 1 percent compared to the prior year fiscal quarter.
• Foreign currency exchange rates did not have a significant effect on net income compared to the prior year fiscal quarter.
• Diluted earnings per share were $1.23 compared to $1.21 in the prior year fiscal quarter.

Fiscal Year 2024 Highlights and Summary:

• Total net sales were $590.6 million, an increase of 10 percent compared to the prior fiscal year.
• Excluding the impact of foreign currency exchange rates, net sales would have increased 8 percent to $582.7 million compared to the prior fiscal year.(1)
• Gross margin was 53.4 percent compared to 51.0 percent in the prior fiscal year.
• Selling, general, and administrative expenses were $183.9 million, up 19 percent compared to the prior fiscal year.
• Advertising and sales promotion expenses were $33.9 million, up 18 percent compared to the prior fiscal year.
• Net income was $69.6 million, an increase of 6 percent compared to the prior fiscal year.
• Excluding the favorable impact of foreign currency exchange rates, net income would have increased 3 percent to $68.2 million compared to the prior fiscal year.(1)
• Diluted earnings per share were $5.11 compared to $4.83 for the prior fiscal year.

"Fiscal year 2024 was exceptionally strong for WD-40 Company," said Steve Brass, president and chief executive officer. "We delivered double-digit revenue growth, with all of our trading blocs performing within or above their target ranges. WD-40 Multi-Use Product, the core of our business, grew revenue 11 percent year over year, and we saw a significant year over year margin recovery of 240 basis points. Our performance demonstrates the strength of our brand and the effectiveness of our strategy.

"Our Four-by-Four Strategic Framework is working. We're turning up the heat on our Must-Win Battles, from geographic expansion to digital commerce. The success we've seen in Brazil and Mexico gives us confidence that we can unlock further game-changing opportunities in emerging markets. As part of our overall commitment to focus on WD-40’s core business, we’ve announced our intention to divest our homecare and cleaning products portfolio. This strategic move will allow us to concentrate our resources on innovating and extending the reach of our higher-growth, higher-margin maintenance products.

"We've also recently introduced our new mantra, 'few things, many places, bigger impact.' This focused approach is already driving efficiencies and better returns on our investments globally, in areas such as product innovation and systems implementation. It's helping us leverage our global presence to drive faster growth and operational excellence. Throughout this growth journey, our strategy remains simple: make our products available in more places and put more cans in the hands of our target end users around the world.

“Looking ahead to fiscal year 2025, we’re well positioned to continue our growth trajectory. Our focus remains on executing our strategy, expanding in high-potential markets across the globe, and driving operational efficiencies. With our strong brand, clear strategy, and engaged workforce, we are confident in our ability to continue delivering long-term value to our stockholders,” concluded Brass.

Net Sales by Segment (in thousands):

Three Months Ended August 31,

Fiscal Year Ended August 31,

 

 

2024

 

2023

Dollars

Change

 

2024

 

2023

Dollars

Change

Americas (2)

$

79,198

$

74,738

$

4,460

6

%

$

281,883

$

266,772

$

15,111

6

%

EIMEA (3)

 

58,579

 

50,713

 

7,866

16

%

 

221,045

 

190,818

 

30,227

16

%

 

Asia-Pacific (4)

 

 

 

18,214

 

 

 

15,001

 

 

 

3,213

 

21

 

%

 

 

 

87,629

 

 

 

79,665

 

 

 

7,964

 

10

 

%

Total

$

155,991

$

140,452

$

15,539

11

%

$

590,557

$

537,255

$

53,302

10

%

Fourth Quarter Highlights by Segment:

Americas

• The Americas segment represented 51 percent of total net sales in the fourth quarter.
• Net sales in the Americas increased $4.5 million or 6 percent in the fourth quarter compared to the prior year fiscal quarter. The increase was due primarily to an increase in net sales of WD-40® Multi-Use Product of $4.2 million or 7 percent compared to the prior year fiscal quarter. WD-40® Multi-Use Product sales increased most significantly in Latin America, which were up $5.9 million, and were partially offset by lower sales in the United States of $1.7 million.
• Net sales of WD-40 Specialist® increased $0.6 million or 6 percent in the fourth quarter due primarily to strong sales in Latin America and Canada.

EIMEA

• The EIMEA segment represented 37 percent of total net sales in the fourth quarter.
• Net sales in EIMEA increased $7.9 million or 16 percent in the fourth quarter compared to the prior year fiscal quarter. The increase was due primarily to an increase in net sales of WD-40® Multi-Use Product of $6.2 million or 16 percent. WD-40® Multi-Use Product sales increased most significantly in the EIMEA distributor markets which were up $4.8 million. WD-40® Multi-Use Product sales also increased in France and the DACH(5) region, which were up $1.0 million and $0.6 million, respectively.
• Net sales of WD-40 Specialist® increased $0.9 million or 13 percent due primarily to the combined impact of higher sales volume and the favorable impact of price increases across the regions.
• Translation of the Company’s foreign subsidiaries’ results from their functional currencies to U.S. dollars had a favorable impact on sales in EIMEA for the current quarter. On a non-GAAP constant currency basis, net sales in EIMEA would have been $58.1 million for the fourth quarter.(1)

   

Asia-Pacific

• The Asia-Pacific segment represented 12 percent of total net sales in the fourth quarter.
• Net sales in Asia-Pacific increased $3.2 million or 21 percent in the fourth quarter compared to the prior year fiscal quarter. This increase was due primarily to an increase in sales of WD-40® Multi-Use Product of $2.9 million or 26 percent. WD-40® Multi-Use Product sales increased most significantly in the Asia distributor markets, which were up $2.9 million due to successful brand building programs in certain regions and the timing of customer orders.
• Net sales of WD-40 Specialist® increased $0.4 million or 24 percent due primarily to successful brand building in certain regions and the timing of customer orders.
• Translation of the Company’s foreign subsidiaries’ results from their functional currencies to U.S. dollars did not have a significant impact on sales in Asia-Pacific for the current quarter.

Net Sales by Product Group (in thousands):

 

 

Three Months Ended August 31,

 

Fiscal Year Ended August 31,

 

 

2024

 

2023

Dollars

Change

 

2024

 

2023

Dollars

Change

WD-40 Multi-Use Product

 

118,961

$

105,672

$

13,289

 

13

%

$

452,925

$

407,672

$

45,253

 

11

%

WD-40 Specialist

 

20,055

 

18,148

 

1,907

 

11

%

 

73,938

 

66,714

 

7,224

 

11

%

Other maintenance products (6)

 

 

 

8,474

 

 

 

7,997

 

 

 

477

 

 

 

6

 

%

 

 

 

31,173

 

 

 

29,172

 

 

 

2,001

 

 

 

7

 

%

Total maintenance products

 

147,490

 

131,817

 

15,673

 

12

%

 

558,036

 

503,558

 

54,478

 

11

%

HCCP (7)

 

8,501

 

8,635

 

(134

)

(2

)%

 

32,521

 

33,697

 

(1,176

)

(3

)%

Total

$

155,991

$

140,452

$

15,539

 

11

%

$

590,557

$

537,255

$

53,302

 

10

%

• Net sales of maintenance products increased 13 percent in the fourth quarter when compared to the prior year fiscal quarter primarily due to increased sales of WD-40® Multi-Use Product in EIMEA, Latin America, and the Asia distributor markets from period to period. Maintenance products are considered the primary strategic focus for the Company.
• Net sales of homecare and cleaning products decreased 2 percent in the fourth quarter compared to the prior year fiscal quarter. The homecare and cleaning products, particularly those in the Americas, are considered harvest brands providing consistent profit returns to the Company and are becoming a smaller part of the business as net sales of maintenance products grow in alignment with the Company’s Four-by-Four Strategic Framework. The Company has previously disclosed its intent to actively pursue the sale of its homecare and cleaning product portfolios in the Americas and the United Kingdom.

Dividend and Share Repurchase Update

• On October 4, 2024, the Company’s board of directors declared a regular quarterly dividend of $0.88 per share payable on October 31, 2024 to stockholders of record at the close of business on October 18, 2024.
• On June 19, 2023, the Company’s board approved a share repurchase plan that became effective on September 1, 2023. Under the plan, the Company is authorized to acquire up to $50.0 million of its outstanding shares through August 31, 2025.
• During fiscal year 2024, the Company repurchased 34,250 shares at a total cost of $8.1 million under this $50.0 million plan.
• The timing and amount of repurchases under the plan are based on terms and conditions as may be acceptable to the Company’s chief executive officer and chief financial officer, subject to present loan covenants, and in compliance with all laws and regulations applicable thereto.

Fiscal Year 2025 Guidance

The Company is providing the following fiscal year guidance on a pro forma basis, excluding the full fiscal year financial impact of the homecare and cleaning product portfolios the Company expects to divest in fiscal year 2025:

• Net sales growth from the 2024 pro forma results is projected to be between 6 and 11 percent with net sales expected to be between $600 million and $630 million on a non-GAAP constant currency basis.
• Gross margin for the full year is expected to be between 54 and 55 percent.
• Advertising and promotion investments are projected to be around 6 percent of net sales.
• Operating income is projected to be between $95 million and $100 million. This range reflects anticipated growth of between 6 to 12 percent compared to 2024 pro forma results.
• The provision for income tax is expected to be around 24 percent.
• Diluted earnings per share is expected to be between $5.20 and $5.45 based on an estimated 13.5 million weighted average shares outstanding. This range reflects anticipated growth of between 9 to 14 percent compared to 2024 pro forma results.

“Our fiscal year 2024 performance demonstrates the power of the WD-40 Company business model, with strong performance across all trading blocs and the successful implementation of several strategic initiatives,” said Sara Hyzer, WD-40 Company's vice president, finance and chief financial officer. “Our gross margin has improved substantially, exceeding our guidance range and moving us closer to our 55 percent target. This improvement was primarily driven by favorable sales mix, lower input costs, and enhanced operational efficiencies across our global supply chain.

“Consistent with our increased focus, we continue to make progress on the divestiture of our Americas and United Kingdom homecare and cleaning product portfolios and we expect to complete this transaction in the first half of fiscal year 2025. Looking ahead, we’re guiding for net sales growth of between 6 and 11 percent on a pro forma basis in fiscal year 2025, excluding the financial impact of the homecare and cleaning brands we expect to divest this fiscal year.”

This guidance is expressed in good faith and is based on management’s current view of anticipated results on a pro forma basis. Unanticipated inflationary headwinds and other unforeseen events may further affect the Company’s financial results. Net sales guidance presented on a non-GAAP constant currency basis use weighted average fiscal year 2024 foreign currency exchange rates. In the event the Company is unsuccessful in the divestiture of its homecare and cleaning products in the Americas and United Kingdom, its guidance would be positively impacted by approximately $23 million in net sales, approximately $6 million in operating income, and approximately $0.33 in diluted EPS for the full fiscal year.

Webcast Information

As previously announced, WD-40 Company management will host a live webcast at approximately 2:00 p.m. PDT today to discuss these results. Other forward-looking and material information may also be discussed during this call. Please visit http://investor.wd40company.com for more information and to view supporting materials.

About WD-40 Company

WD-40 Company is a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories, and homes around the world. The Company owns a wide range of well-known brands that include maintenance products and homecare and cleaning products: WD-40® Multi-Use Product, WD-40 Specialist®, 3-IN-ONE®, GT85®, 2000 Flushes®, no vac®, 1001®, Spot Shot®, Lava®, Solvol®, X-14®, and Carpet Fresh®.

Headquartered in San Diego, California, USA, WD-40 Company recorded net sales of $590.6 million in fiscal year 2024 and its products are currently available in more than 176 countries and territories worldwide. WD-40 Company is traded on the NASDAQ Global Select Market under the ticker symbol “WDFC.” For additional information about WD-40 Company please visit http://www.wd40company.com.

Forward-Looking Statements

Except for the historical information contained herein, this press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect the Company’s current expectations with respect to currently available operating, financial and economic information. These forward-looking statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those anticipated in or implied by the forward-looking statements. These forward-looking statements are generally identified with words such as “believe,” “expect,” “intend,” “plan,” “project,” “could,” “may,” “aim,” “anticipate,” “target,” “estimate” and similar expressions.

Our forward-looking statements include, but are not limited to, discussions about future financial and operating results; expected benefits from the acquisition or divestiture transaction; acquired business not performing as expected; assuming unexpected risks, liabilities and obligations of the acquired business; disruption to the parties’ business as a result of the announcement and acquisition or divestiture transaction; integration of acquired business and operations into the company; the Company's ability to successfully complete any planned divestiture; expected timing of the closing for the divestiture; expected proceeds from the divestiture; the intended use of proceeds by the Company from the divestiture transaction; impact of the divestiture transaction on the Company's stock price or EPS; growth expectations for maintenance products; expected levels of promotional and advertising spending; anticipated input costs for manufacturing and the costs associated with distribution of our products; plans for and success of product innovation; the impact of new product introductions on the growth of sales; anticipated results from product line extension sales; expected tax rates and the impact of tax legislation and regulatory action; changes in the political conditions or relations between the United States and other nations; the impacts from inflationary trends and supply chain constraints; changes in interest rates; and forecasted foreign currency exchange rates and commodity prices.

The Company’s expectations, beliefs and forecasts are expressed in good faith and are believed by the Company to have a reasonable basis, but there can be no assurance that the Company’s expectations, beliefs or forecasts will be achieved or accomplished. All forward-looking statements reflect the Company’s expectations as of October 17, 2024. We undertake no obligation to revise or update any forward-looking statements.

Actual events or results may differ materially from those projected in forward-looking statements due to various factors, including, but not limited to, those identified in Part I—Item 1A, “Risk Factors,” in the Company’s Annual Report on Form 10-K for the fiscal year ended August 31, 2023 which the Company filed with the SEC on October 23, 2023, and in Part I—Item 1A, “Risk Factors,” in the Company’s Annual Report on Form 10-K for the fiscal year ended August 31, 2024, which the Company expects to file with the SEC on October 21, 2024.

Table Notes and General Definitions

(1) 

In order to show the impact of changes in foreign currency exchange rates on our results of operations, we have included constant currency disclosures, where necessary, in this press release. Constant currency disclosures represent the translation of our current fiscal year revenues, expenses and net income from the functional currencies of our subsidiaries to U.S. dollars using the exchange rates in effect for the corresponding period of the prior fiscal year. Results on a constant currency basis are not in accordance with accounting principles generally accepted in the United States of America (“non-GAAP”) and should be considered in addition to, not as a substitute for, results prepared in accordance with U.S. GAAP. We use results on a constant currency basis as one of the measures to understand our operating results and evaluate our performance in comparison to prior periods in order to enhance the visibility of the underlying business trends, excluding the impact of translation arising from foreign currency exchange rate fluctuations. Management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing our underlying business performance and trends. However, reference to constant currency basis should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP.

(2) 

The Americas segment consists of the U.S., Canada and Latin America.

(3) 

The EIMEA segment consists of countries in Europe, India, the Middle East and Africa.

(4) 

The Asia-Pacific segment consists of Australia, China and other countries in the Asia region.

(5) 

The DACH region is comprised of the countries of Germany, Austria and Switzerland.

(6) 

The Company markets its other maintenance products under the GT85® and 3-IN-ONE® brand names.

(7) 

The Company markets its homecare and cleaning products (“HCCP”) under the X-14®, 2000 Flushes®, Carpet Fresh®, no vac®, Spot Shot®, 1001®, Lava®, and Solvol® brand names.

  WD-40 COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited and in thousands, except share and per share amounts)

 

 

August 31,

2024

August 31,

2023

Assets

 

 

Current assets:

 

 

Cash and cash equivalents

$

46,699

$

48,143

Trade and other accounts receivable, net

 

117,493

 

98,039

Inventories

 

79,088

 

86,522

Other current assets

 

12,161

 

15,821

Total current assets

 

255,441

 

248,525

Property and equipment, net

 

62,983

 

66,791

Goodwill

 

96,985

 

95,505

Other intangible assets, net

 

6,222

 

4,670

Right-of-use assets

 

11,611

 

7,820

Deferred tax assets, net

 

993

 

1,201

Other assets

 

14,804

 

13,454

Total assets

$

449,039

$

437,966

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$

35,960

$

30,826

Accrued liabilities

 

31,272

 

30,000

Accrued payroll and related expenses

 

26,055

 

16,722

Short-term borrowings

 

8,659

 

10,800

Income taxes payable

 

1,554

 

494

Total current liabilities

 

103,500

 

88,842

Long-term borrowings

 

85,977

 

109,743

Deferred tax liabilities, net

 

9,066

 

10,305

Long-term operating lease liabilities

 

5,904

 

5,832

Other long-term liabilities

 

14,066

 

13,066

Total liabilities

 

218,513

 

227,788

Commitments and Contingencies

Stockholders’ equity:

Common stock — authorized 36,000,000 shares, $0.001 par value; 19,925,212 and 19,905,815 shares issued at August 31, 2024 and 2023, respectively; and 13,548,581 and 13,563,434 shares outstanding at August 31, 2024 and 2023, respectively

 

20

 

 

20

 

Additional paid-in capital

 

175,642

 

 

171,546

 

Retained earnings

 

499,931

 

 

477,488

 

Accumulated other comprehensive income (loss)

 

(29,268

)

 

(31,206

)

Common stock held in treasury, at cost — 6,376,631 and 6,342,381 shares at August 31, 2024 and 2023, respectively

 

(415,799

)

 

(407,670

)

Total stockholders’ equity

 

230,526

 

 

210,178

 

Total liabilities and stockholders’ equity

$

449,039

 

$

437,966

 

WD-40 COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited and in thousands, except per share amounts)

 

 

Three Months Ended August 31,

 

 

 

Fiscal Year Ended August 31,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

 

 

 

 

 

 

 

Net sales

$

155,991

 

 

$

140,452

 

 

$

590,557

 

 

$

537,255

 

Cost of products sold

 

71,646

 

 

 

68,327

 

 

 

275,330

 

 

 

263,035

 

Gross profit

 

84,345

 

 

 

72,125

 

 

 

315,227

 

 

 

274,220

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

Selling, general and administrative

 

49,137

 

 

 

38,815

 

 

 

183,859

 

 

 

154,684

 

Advertising and sales promotion

 

10,858

 

 

 

9,823

 

 

 

33,911

 

 

 

28,807

 

Amortization of definite-lived intangible assets

 

300

 

 

 

252

 

 

 

1,106

 

 

 

1,005

 

Total operating expenses

 

60,295

 

 

 

48,890

 

 

 

218,876

 

 

 

184,496

 

 

 

 

 

 

 

 

 

Income from operations

 

24,050

 

 

 

23,235

 

 

 

96,351

 

 

 

89,724

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

Interest income

 

198

 

 

 

67

 

 

 

474

 

 

 

231

 

Interest expense

 

(951

)

 

 

(1,346

)

 

 

(4,287

)

 

 

(5,614

)

Other (expense) income, net

 

(514

)

 

 

264

 

 

 

(1,030

)

 

 

822

 

Income before income taxes

 

22,783

 

 

 

22,220

 

 

 

91,508

 

 

 

85,163

 

Provision for income taxes

 

5,999

 

 

 

5,645

 

 

 

21,864

 

 

 

19,170

 

Net income

$

16,784

 

 

$

16,575

 

 

$

69,644

 

 

$

65,993

 

 

 

 

 

 

 

 

 

Earnings per common share:

 

 

 

 

 

 

 

Basic

$

1.23

 

 

$

1.22

 

 

$

5.12

 

 

$

4.84

 

Diluted

$

1.23

 

 

$

1.21

 

 

$

5.11

 

 

$

4.83

 

Shares used in per share calculations:

Basic

 

13,548

 

 

 

13,567

 

 

 

13,554

 

 

 

13,578

 

Diluted

 

13,577

 

 

 

13,597

 

 

 

13,580

 

 

 

13,604

 

WD-40 COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited and in thousands)

 

 

Fiscal Year Ended August 31,

 

 

2024

 

 

 

2023

 

Operating activities:

 

 

 

Net income

$

69,644

 

 

$

65,993

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Depreciation and amortization

 

9,456

 

 

 

8,151

 

Net gains on sales and disposals of property and equipment

 

(241

)

 

 

(90

)

Deferred income taxes

 

(1,156

)

 

 

(1,254

)

Stock-based compensation

 

6,535

 

 

 

6,434

 

Amortization of cloud computing implementation costs

 

1,221

 

 

 

270

 

Unrealized foreign currency exchange losses (gains), net

 

200

 

 

 

(1,702

)

Provision for credit losses

 

325

 

 

 

391

 

Write-off of inventories

 

1,425

 

 

 

713

 

Changes in assets and liabilities:

 

 

 

Trade and other accounts receivable

 

(15,498

)

 

 

(5,339

)

Inventories

 

6,414

 

 

 

19,367

 

Other assets

 

(1,444

)

 

 

(1,637

)

Operating lease assets and liabilities, net

 

(35

)

 

 

49

 

Accounts payable and accrued liabilities

 

4,322

 

 

 

(213

)

Accrued payroll and related expenses

 

8,879

 

 

 

4,965

 

Other long-term liabilities and income taxes payable

 

1,987

 

 

 

2,293

 

Net cash provided by operating activities

 

92,034

 

 

 

98,391

 

 

 

 

 

Investing activities:

 

 

 

Purchases of property and equipment

 

(4,206

)

 

 

(6,871

)

Proceeds from sales of property and equipment

 

672

 

 

 

655

 

Acquisition of business, net of cash acquired

 

(6,201

)

 

 

—

 

Net cash used in investing activities

 

(9,735

)

 

 

(6,216

)

 

 

 

 

Financing activities:

 

 

 

Treasury stock purchases

 

(8,094

)

 

 

(10,434

)

Dividends paid

 

(47,201

)

 

 

(44,581

)

Repayments of long-term senior notes

 

(800

)

 

 

(800

)

Net repayments from revolving credit facility

 

(25,402

)

 

 

(28,372

)

Shares withheld to cover taxes upon conversion of equity awards

 

(2,439

)

 

 

(861

)

Net cash used in financing activities

 

(83,936

)

 

 

(85,048

)

Effect of exchange rate changes on cash and cash equivalents

 

193

 

 

 

3,173

 

Net (decrease) increase in cash and cash equivalents

 

(1,444

)

 

 

10,300

 

Cash and cash equivalents at beginning of period

 

48,143

 

 

 

37,843

 

Cash and cash equivalents at end of period

$

46,699

 

 

$

48,143

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20241017153023/en/

Media and Investor Contact: Wendy Kelley Vice President, Stakeholder and Investor Engagement investorrelations@wd40.com +1-619-275-9304