WD 40 CO SEC 10-Q Report

WD-40 Co., a global leader in maintenance products, has released its latest Form 10-Q report, showcasing robust financial and operational performance. The report highlights significant growth in key financial metrics and strong business performance across various segments and geographies.

Financial Highlights

• Net Sales: $456.5 million, increased by 5% compared to the prior year period, driven by higher sales volume and increased average selling prices.
• Gross Profit: $251.9 million, representing a gross margin of 55.2%, up from 53.1% in the prior year, primarily due to lower costs of specialty chemicals and aerosol cans.
• Income from Operations: $75.8 million, a 5% increase from the prior year, supported by higher sales and improved gross margin.
• Net Income: $69.8 million, a 32% increase from the prior year, including a favorable income tax adjustment of $11.9 million due to the release of an uncertain tax position.
• Diluted EPS: $5.13, up from $3.88 in the prior year, reflecting the increase in net income and the tax adjustment benefit.

Business Highlights

• Revenue Segments: The Americas segment saw a 5% increase in net sales, driven by a 6% rise in WD-40 Multi-Use Product sales, particularly in Latin America and the U.S. WD-40 Specialist sales also grew by 9% due to new distribution and increased demand in the U.S.
• Geographical Performance: In the EIMEA segment, net sales increased by 7%, with significant growth in France, Iberia, Benelux, and Italy. This was attributed to higher sales volumes and increased distribution. However, the Middle East experienced a decline due to weaker economic conditions.
• Geographical Performance: The Asia-Pacific segment reported a 7% increase in net sales, with China and Asia distributor markets contributing significantly due to successful promotional programs and increased distribution.
• Sales Units: The Americas segment experienced a 4% increase in total maintenance product sales, with a notable 5% increase in WD-40 Multi-Use Product sales due to higher promotional activities and customer orders.
• Sales Units: In the EIMEA segment, WD-40 Specialist sales increased by 15%, driven by promotional activities and stronger demand in France and other direct markets.
• Sales Units: The Asia-Pacific segment saw a 10% increase in WD-40 Multi-Use Product sales, primarily due to increased sales volume in China and Asia distributor markets.
• Future Outlook: The company continues to focus on increasing sales of maintenance products and is monitoring global economic conditions, including trade policies and tariffs, which could impact future performance.

SEC Filing: WD 40 CO [ WDFC ] - 10-Q - Jul. 10, 2025