📈 Price History

Ratio Health

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— Good

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By Category

📊 Sector Averages

About

WD-40 Company engages in the provision of maintenance products and homecare and cleaning products in North America, Central and South America, Asia, Australia, Europe, India, the Middle East, and Africa.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding WDFC

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	203.5K	$41.5M	0.06%	Mar 2026
Steve Cohen Point72 Asset Management	18.0K	$3.7M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q3 2025

Confident Specific

Management described the quarter as a 'record sales quarter' and noted 'continued progress and momentum.' They provided specific positive metrics such as gross margin of 56.2%, year-to-date maintenance product growth of 6%, and a 'strong start to the fourth quarter' with 'robust performance across all three trade blocks.' The tone was reinforced with upward revisions to operating income and EPS guidance.

Q4 2025

Confident Specific

Management repeatedly described record quarterly sales, gross margin exceeding 55% target (55.1% for the year), and labeled performance as 'resilient' and 'strong', using specific figures (e.g., 730 bps gross margin improvement since Q4 2021) and forward guidance with precise ranges.

Q1 2026

Confident Specific

Management repeatedly uses phrases like 'highly confident', 'expect a strong rebound', 'off to an excellent start in Q2', and provides specific numbers: direct markets grew 8%, gross margin up 150 bps sequentially, and guidance reaffirmed at mid-to-high end. They clearly attribute Q1 softness to distributor inventory timing, not demand.

Q2 2026 latest

Confident Specific

Management uses definitive language like 'we are encouraged by the momentum', 'we are reaffirming our guidance today', and provides specific numbers (e.g., gross margin 55.6%, up 100 bps). They acknowledge geopolitical uncertainty but cite clear visibility into U.S. promotional activity and improving trends in EIMEA and Asia-Pacific.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis remains largely unchanged after this call. Management delivered solid Q2 results with maintenance product sales up 6% constant currency and gross margin expanding 100 bps. The strong U.S. outlook and resilient supply chain provide a buffer against geopolitical risks. However, the shift in oil price assumptions from $65-85 to $95-115 introduces uncertainty for gross margins in Q4 and may pressure full-year profitability. Investors should watch for the duration of the Middle East conflict, management's mitigation actions (pricing or cost savings), and the progress of the home care divestiture. The reaffirmed guidance suggests confidence, but the bottom-line risk is now weighted to the lower end of ranges.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED WD-40 Q2 FY2026: Sales $161.7M, +11%; Gross Margin 55.6%

Revenue & Profitability

Q2 consolidated net sales were $161.7 million, up 11% year-over-year. Operating income increased 13% to $26.3 million (4% on a constant currency basis). Net income was $20.3 million compared to $29.6 million last year, which included an $11.9 million non-recurring tax benefit; excluding that, net income rose 13%. Diluted EPS was $1.50 (non-GAAP EPS up 14% excluding the prior-year tax benefit).

Outlook

Management expects high single- to low double-digit growth in the Americas, mid-single-digit constant-currency growth in EIMEA, and mid- to high single-digit reported growth in Asia-Pacific for FY2026. They are cautious about global economic and geopolitical instability, particularly in the Middle East, but remain confident in delivering solid full-year results.

Growth Drivers

Key growth levers include geographic expansion (strong U.S., France, Iberia, China), premiumization (Smart Straw/EZ-REACH up 9% YTD), WD-40 Specialist (up 19% YTD), and e-commerce (up 23% YTD). New product launches, such as a bio-based multi-use lubricant in Europe, and expanded distribution in discount channels are also driving growth.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Gross margin was 55.6%, up 100 bps year-over-year, driven by lower specialty chemical costs and higher selling prices. Cost of doing business was 38% of sales, flat year-over-year. Adjusted EBITDA margin was 18%, also flat. The company expects gross margin within the guidance range of 55.5%-56.5% for FY2026, with near-term insulation from oil volatility due to higher inventory levels.

Key Risks

Management cited geopolitical tensions in the Middle East, which could impact oil prices and input costs (assumed $95-$115/bbl for the back half) and sales in the region (approximately 3% of global sales). Other risks include global economic uncertainty and potential disruption in Asia-Pacific markets.

Generated by AI · Q2 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q3 2026 Q3 2026 2026-07-09

Net sales grew 24% year-over-year with strong gains across all regions and product lines, while operating income rose 47% and gross margin reached 56.6%. Guidance for fiscal 2026 was raised, reflecting continued momentum, though near-term margin pressure is expected from input cost volatility.

Q2 2026 Q2 2026 2026-04-09

Q2 FY26 net sales rose 11% year-over-year, led by strong U.S. and Asia-Pacific growth, with gross margin up 100 bps to 55.6%. Full-year guidance is reaffirmed, though margin expectations are tempered due to higher oil prices and geopolitical risks.

Q1 2026 Q1 2026 2026-01-08

Q1 FY26 net sales rose 1% to $154.4M, with gross margin up 140 bps to 56.2%. Direct markets grew 8%, offset by distributor softness, but strong rebounds are expected later in the year. Guidance is reaffirmed, with confidence in achieving mid to high end of ranges.

Q4 2025 Q4 2025 2025-10-22

Fiscal 2025 saw record sales and margin expansion, with net sales up 5% and gross margin surpassing 55%. Strategic divestitures and strong growth in premium and specialist products position the company for 5%-9% sales growth and further margin gains in 2026.

Q3 2025 Q3 2025 2025-07-10

Record Q3 sales and gross margin gains were driven by maintenance products and premiumization, with FY25 guidance raised for operating income and EPS. Strong cash flow supported debt reduction, dividends, and buybacks.

📊 Analysis Methodology

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