WD-40 Co. sales increase 9% in Q2
San Diego-based WD-40, whose brands include a variety of lubricants and cleaning products, saw sales jump 9% in the quarter ended Feb. 29.
The company posted sales of $86.0 million for the quarter. Net income for the quarter was $10.6 million, an increase of 16% compared to the same quarter last year.
CEO Garry Ridge pointed to developments in growing its WD-40 Specialist product line. “This is the beginning of the Company's journey to offer a greater diversity of WD-40 branded products within adjacent categories where we can meet end user needs," Ridge said. "We are tracking well in our U.S. rollout and are just beginning our roll out in Europe."
Sales in the Americas segment in the second quarter were $46.0 million, up 21% compared to the second quarter last fiscal year and were $86.7 million year-to-date, up 12% compared to the prior fiscal year period.