WD-40 Company has recently released its 10-Q report, revealing a 9% increase in consolidated net sales to $153.5 million compared to the corresponding period of the prior fiscal year. The company's products are sold primarily through hardware stores, automotive parts outlets, industrial distributors and suppliers, mass retail and home center stores, value retailers, grocery stores, online retailers, warehouse club stores, farm supply, sport retailers, and independent bike dealers.
In the three months ended November 30, 2024, WD-40 Multi-Use Product sales increased by 10%, WD-40 Specialist sales increased by 14%, and other maintenance products saw a 2% increase. The Americas segment's net sales increased by 8%, the EIMEA segment's net sales increased by 18%, and the Asia-Pacific segment's net sales decreased by 4%. Gross profit as a percentage of net sales increased to 54.8% compared to 53.8% for the corresponding period of the prior fiscal year. Consolidated net income increased by 8%, and diluted earnings per common share were $1.39 versus $1.28 in the prior fiscal year period.
During the first quarter of fiscal year 2025, WD-40 Company reclassified its homecare and cleaning product businesses in the Americas and EIMEA segments to held for sale. The company also returned approximately $15.6 million to its stockholders in the first quarter of fiscal 2025 through share repurchases and dividends.
In the Americas segment, WD-40 Multi-Use Product sales increased by 9%, WD-40 Specialist sales increased by 16%, and other maintenance products sales remained relatively constant. Homecare and cleaning product sales decreased by 7%. In the EIMEA segment, WD-40 Multi-Use Product sales increased by 21%, WD-40 Specialist sales increased by 17%, and other maintenance products sales remained relatively constant. Homecare and cleaning product sales decreased by 19%. In the Asia-Pacific segment, WD-40 Multi-Use Product sales decreased by 6%, WD-40 Specialist sales increased by 2%, and other maintenance products sales decreased by 27%. Homecare and cleaning product sales increased by 20%.
The company's 10-Q report provides a detailed breakdown of its financial performance and sales by segment, offering insights into its growth and operational highlights. As a result of these announcements, the company's shares have moved 0.9% on the market, and are now trading at a price of $240.75. For more information, read the company's full 10-Q submission here.
