WD-40 sales rise 4 percent
WD-40 Company reported net sales for the first quarter of $101.3 million, an increase of 4 percent compared to the prior year fiscal quarter.
Net income for the first quarter was $13.3 million, an increase of 5 percent from the prior year fiscal quarter.
"Sales of our 2025 brands – the brands we see taking us to our long-term revenue objective of $700 million by the end of fiscal year 2025 – are up 5 percent globally compared to the first quarter of last year. Globally, our flagship product, WD-40 Multi-Use Product, grew 5 percent in the first quarter, and our WD-40 Specialist product line grew 13 percent compared to the prior year," said Garry Ridge, president and chief executive officer.
Net sales in the Americas increased 4 percent in the first quarter primarily due to higher sales of maintenance products in the United States which increased 9 percent compared to the prior year fiscal period.
This sales increase was primarily due to higher sales of the WD-40 EZ-Reach Flexible Straw product, a 9 percent increase in sales of WD-40 Specialist, the timing of promotional programs, as well as expanded distribution in the online, industrial and farm trade channels. The increase in sales in the United States was slightly offset by lower sales of maintenance products in Canada and Latin American primarily due to the timing of customer orders.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
