WD-40 Company reported a consolidated net sales increase of $68 million, or 11%, for the fiscal year ending August 31, 2026, reaching $688 million compared to $620 million in the previous year. The growth was bolstered by a favorable foreign currency impact of $21.8 million, primarily from the EIMEA segment, while sales volume contributed approximately $38.2 million. However, net income decreased by $8.6 million, or 10%, to $82.3 million, with diluted earnings per share falling to $6.08 from $6.69 in the prior year. Adjusted net income, excluding one-time items, increased by 6%, reflecting the company's operational resilience amid challenging market conditions.
The company experienced notable changes in its product lines, particularly in maintenance products, which saw a 13% increase in sales, driven by the WD-40 Multi-Use Product and the WD-40 Specialist line. The Americas segment reported a 12% sales increase, while the EIMEA segment grew by 10%. The Asia-Pacific segment also contributed with a 10% increase in sales. The decline in homecare and cleaning products, attributed to the divestiture of the HCCP business, resulted in a 24% decrease in that category, impacting overall sales figures.
Strategically, WD-40 Company has focused on enhancing its digital presence and expanding its product offerings. The company continues to innovate with new product launches, including the WD-40 Smart Straw and various specialty maintenance products. The workforce has grown to 753 employees, with a commitment to maintaining a diverse and inclusive culture. The company emphasizes operational excellence and aims to achieve a gross margin above 55%, with a target of 5% to 9% annual net sales growth on a constant currency basis.
Looking ahead, WD-40 Company anticipates ongoing challenges from inflationary pressures and supply chain disruptions, particularly related to raw materials and logistics costs. The company has implemented price increases to mitigate these impacts and plans to continue investing in marketing and promotional activities to drive sales growth. The outlook remains cautiously optimistic, with a focus on sustaining profitability and enhancing shareholder value through dividends and share repurchase programs. The Board has approved a new share repurchase plan, allowing for the acquisition of up to $100 million in shares, reflecting the company's commitment to returning capital to shareholders.
About WD 40 CO
WD-40 Company develops and markets maintenance and homecare products worldwide, including its flagship WD-40 Multi-Use Product. It offers specialty lubricants, cleaners, and related brands across various channels such as hardware stores, industrial distributors, and online retail. Focused on innovation, brand strength, and operational excellence, the company serves diverse markets with a competitive value proposition centered on high-quality, versatile solutions for consumers and professionals.
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