Renovation Trend Drives WD-40 Sales

WD-40’s first-quarter net sales jumped 26 per cent to $124.6 million compared to net sales of $98.6 million for the same period last year. It reports a first-quarter net income of $23.6 million, up 94 per cent from a net income of $12.2 million for the same quarter in the previous year. Net sales of maintenance products, which are considered the primary growth focus for the company, increased 28 per cent in the first quarter when compared to the prior year fiscal quarter. The increase is primarily due to heightened demand linked to renovation trends associated with the pandemic and increased sales through the eCommerce channel.