WD-40 Company Reports First Quarter 2026 Financial Results

Core Insights - WD-40 Company reported a net sales increase of 1 percent to $154.4 million for the first fiscal quarter ended November 30, 2025, compared to the prior year [7] - The company remains optimistic about a strong rebound in sales, particularly in the second quarter, driven by various upcoming initiatives [3][4] Financial Performance - Maintenance product sales reached $148.9 million, a 2 percent increase year-over-year [7] - Gross margin improved to 56.2 percent, up from 54.8 percent in the same quarter last year, reflecting operational efficiency [7] - Selling, general, and administrative expenses rose by 10 percent to $55.3 million [7] - Operating income decreased by 7 percent to $23.3 million, while net income fell by 8 percent to $17.5 million [7] Sales by Segment - The Americas segment accounted for 47 percent of total net sales, with a 4 percent increase driven by higher sales of WD-40 Multi-Use Product [12] - EIMEA segment represented 38 percent of total net sales, with a 2 percent increase primarily due to a 27 percent rise in WD-40 Specialist sales [12] - Asia-Pacific segment, representing 15 percent of total net sales, saw a 10 percent decline, mainly due to a 12 percent drop in WD-40 Multi-Use Product sales [12] Product Group Performance - WD-40 Multi-Use Product sales decreased by 1 percent to $117.8 million, while WD-40 Specialist sales increased by 18 percent to $22.5 million [11] - Other maintenance products saw a 2 percent increase in sales, totaling $8.6 million [13] Dividend and Share Repurchase - The board declared a quarterly cash dividend of $1.02 per share, an increase of over 8 percent from the previous quarter [16] - A share repurchase plan of $50 million was approved, with $21.8 million remaining available as of November 30, 2025 [17] Guidance and Future Outlook - The company reaffirmed its fiscal year 2026 guidance, expecting net sales growth between 5 and 9 percent, with total net sales projected between $630 million and $655 million [18] - Operating income is anticipated to be between $103 million and $110 million, reflecting growth of 5 to 12 percent compared to 2025 pro forma results [25]