WD-40 Company

What they do

WD-40 markets and sells two product groups: maintenance products sold worldwide, and homecare and cleaning products sold primarily in North America, the U.K. and Australia. Products reach end users through hardware stores, automotive parts outlets, industrial distributors, mass retail and home centers, value retailers, grocery, online, warehouse clubs, farm supply and bike dealers. The brand family includes WD-40 Multi-Use Product, WD-40 Specialist, 3-IN-ONE, GT85, X-14, 2000 Flushes, Carpet Fresh, no vac, Spot Shot, Lava and Solvol. Manufacturing, marketing and distribution are run through wholly-owned subsidiaries worldwide.

Revenue drivers

• Maintenance products — Sold worldwide; the core of the company and the focus of its growth strategy, including WD-40 Multi-Use Product and WD-40 Specialist. Third-quarter fiscal 2026 maintenance product sales were $189.7 million, up 26 percent.
• Americas segment — The largest trade bloc, 52 percent of third-quarter fiscal 2026 net sales, at $101.2 million, up 29 percent, driven by WD-40 Multi-Use Product in the U.S. and Latin America.
• EIMEA segment — Second-largest bloc at $66.6 million in the third quarter of fiscal 2026, up 17 percent; certain homecare and cleaning brand assets here were sold in the fourth quarter of fiscal 2025.
• Asia-Pacific segment — Smallest bloc at $27.3 million in the third quarter of fiscal 2026, up 24 percent, and home to homecare and cleaning products sold primarily in Australia.

Recent performance

For the third fiscal quarter ended May 31, 2026, total net sales were $195.1 million, up 24 percent, with growth in all three trade blocs (Americas +29%, EIMEA +17%, Asia-Pacific +24%). Foreign currency translation added about $7.3 million; on a constant currency basis sales rose 20 percent. Gross margin was 56.6 percent versus 56.2 percent, operating income was $40.3 million, up 47 percent, and net income was $30.2 million, up 44 percent. Diluted EPS were $2.24 versus $1.54; excluding a $1.3 million one-time Americas homecare amortization charge, non-GAAP adjusted EPS were $2.33. Nine-month fiscal 2026 net sales were $511.2 million, up 12 percent.

Strategy

Management follows a four-by-four framework: Must-Win Battles focused on growing WD-40 Multi-Use Product through geographic expansion, premiumizing it to lift gross margin, growing WD-40 Specialist through category leadership, and building digital and e-commerce capability. Strategic Enablers target people, sustainability, supply chain operational excellence and systems-driven productivity. The company is exiting or de-emphasizing homecare and cleaning: EIMEA homecare assets were sold in the fourth quarter of fiscal 2025, and it is no longer actively marketing Americas homecare brands, reclassifying those assets as held for use. In the third quarter of fiscal 2026 it decided to include the homecare and cleaning business in its outlook again. Innovation and renovation of products and packaging remain stated priorities.

Risks

• Economic and demand sensitivity — Adverse global or regional economic conditions, lower industrial output or weaker consumer spending could reduce purchases, and end users may trade down to lower-priced or non-branded products.
• Inflation and input costs — Inflationary environments and supply chain constraints have previously raised raw material and other input costs and could unfavorably impact gross margin.
• Tariffs and trade policy — Changes in trade policies and tariffs and geopolitical trade disruptions are cited among factors that could affect sales, costs and operating results across the company's markets.
• Divestiture execution — The company's outlook and results depend on completing and realizing expected benefits from divestitures, including the planned sale of Americas homecare and cleaning portfolios, which carries timing and disruption risk.

Outlook

Management updated guidance to include the homecare and cleaning business and narrowed the ranges for the remainder of fiscal year 2026, citing strong year-to-date performance and the decision to no longer actively market Americas homecare brands. The company pointed to double-digit year-to-date growth in geographic expansion, WD-40 Specialist, premiumized products and e-commerce. Full numeric guidance figures were not included in the excerpt reviewed.