Disruptions Put Pressure On WD-40 Sales

WD-40 Company had net sales of $123.7 million in the third quarter of 2022, a decrease of nine per cent compared to the prior year fiscal quarter. Net income for the quarter was $14.5 million, a decrease of 31 per cent year-over-year. The company’s gross margin was 47.7 per cent compared to 53.1 per cent in the prior year period. Net sales of maintenance products decreased nine per cent year-over-year and net sales of homecare and cleaning products were down 10 per cent. “In the third quarter, we were up against very strong sales comparisons and had to manage through several global disruptions that negatively impacted our current quarter sales results,” says Garry Ridge, CEO of WD-40 Company.