WD-40 Co. (WDFC) Thursday reported first-quarter profit rose of $18.56 million or $1.34 per share, down from $23.62 million or $1.72 per share last year.
Net sales for the first quarter increased 8% to $134.75 million from $124.56 million last year.
"Our maintenance products delivered solid sales increases in the first quarter including 14 percent growth of WD-40 Multi-Use Product," said CEO Garry Ridge. "We are pleased with our topline results in the quarter, but we are facing a volatile and challenging environment that is deteriorating our gross margin and causing disruptions to our supply chain."
Looking forward, the company now expects full year 2022 earnings of $5.24 to $5.38 per share and net sales growth is projected to be between 7 and 12 percent with net sales expected to be between $522 million and $547 million.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.