WD-40 Company Achieves Record Sales Quarter, Maintains Confidence in Growth Trajectory
The WD-40 Company has reported a record sales quarter for the third fiscal year of 2025, with net sales reaching $156.9 million, representing a 1% increase compared to the same period last year.
According to the company's President and Chief Executive Officer, Steve Brass, this marks continued progress and momentum, despite changes in foreign currency exchange rates being a headwind for the company. Adjusting for estimated translation impact of foreign currency, net sales would have been $158.6 million, reflecting an increase of 2% compared to the same period last year.
The company's core strategic focus is on maintenance products, which reported net sales of $150.4 million in the third quarter, reflecting a 2% year-over-year increase. While this fell short of the company's long-term growth targets for maintenance products, Steve Brass remains confident in its growth trajectory. Year-to-date, net sales in maintenance products reached $435.2 million, representing a 6% increase and aligning with the mid- to high single-digit long-term growth target.
The Americas segment reported a 4% increase in sales for the third quarter, reaching $78.2 million compared to the same period last year. Adjusting for estimated translation impact of foreign currency, net sales in the Americas would have increased by 7% compared to the prior year fiscal quarter. Sales of maintenance products also increased 4% in the third quarter, driven primarily by higher sales of WD-40 Multi-Use Product in the United States.
Steve Brass attributed the growth in the United States to increased promotional activity and the timing of customer orders, while distributor markets in Latin America experienced a decline in volume. However, this was largely offset by solid growth in Brazil, which continues to demonstrate strong market momentum.
The company also reported a 4% increase in sales of WD-40 Specialist compared to the prior year fiscal quarter, primarily due to expanded distribution in the United States. Sara Hyzer, Vice President and Chief Financial Officer, will review the company's third-quarter performance and provide an update on its outlook for fiscal year '25 during the call.
The WD-40 Company is confident in its ability to continue growing and meeting its long-term targets, with Steve Brass stating that the strong start to the fourth quarter reinforces their confidence in concluding the fiscal year with solid growth. The company will address questions from investors and analysts during the call."
