WD-40 Co

Latest Results (19.05.2026):

WD-40 Company reported results for the second quarter of fiscal 2026. Total net sales were $161.7 million (up 11% vs. Q2 FY2025; +4% on a non‑GAAP constant‑currency basis), driven by maintenance product sales of $156.8 million (up 13%; +6% cc). GAAP diluted EPS was $1.50 (down 32% year‑over‑year due to a prior‑year $11.9M tax benefit); on an adjusted/non‑GAAP basis EPS rose about 14%. Management reaffirmed full‑year fiscal 2026 guidance.

Sales and product mix

Total net sales $161.7M; maintenance products comprised 97% of sales at $156.8M (13% growth, 6% cc). Homecare & cleaning products fell 29% (now ~3% of sales) as divestitures removed prior‑year revenue.

Profitability

Gross margin expanded to 55.6% (+100 bps). Operating income was $26.3M (+13%). Reported net income was $20.3M (‑32% YoY) driven by an $11.9M favorable tax adjustment in Q2 FY2025; excluding that one‑time item, adjusted net income rose ~13% and adjusted diluted EPS increased ~14% year‑over‑year.

Regional performance

Americas: $71.8M (+10%), with U.S. WD‑40 Multi‑Use up ~15% (promo activity, distribution, modest price increases). EIMEA: $64.9M (+9%) but unfavourable on a constant‑currency basis (cc down ~3%)—growth was currency‑driven. Asia‑Pacific: $25.0M (+19%), led by China and distributor markets; WD‑40 Specialist rose strongly (≈55% in China).

Capital allocation and liquidity

Cash and cash equivalents $50.3M at quarter end. During Q2 the company repurchased 38,175 shares for $8.0M and had $13.8M remaining under the $50M repurchase authorization (management plans to use remaining authorization in FY2026). Board declared a $1.02 quarterly dividend payable April 30, 2026.

Guidance and outlook

Management reaffirmed FY2026 guidance: net sales growth 5–9% (implying $630–$655M), gross margin 55.5–56.5%, operating income $103–$110M, and diluted EPS $5.75–$6.15. Guidance is pro forma (excludes expected divestiture impacts) and assumes crude oil $95–$115/bl and EUR/USD ≈1.15 for the back half.