San Diego, CA
www.WD.com

Sales: $408 million

WD-40 Company’s sales for fiscal 2020 fell 4%.

“Fiscal year 2020 brought us many unexpected challenges but it also brought many unexpected opportunities,” said Garry Ridge, WD-40 Company’s chairman and chief executive officer, wrote upon the release of the numbers. “As a global business that sells products in more than 176 countries and territories around the world, each of our markets were impacted differently by the COVID-19 pandemic and therefore our sales results varied greatly between geographies. In geographies where retail operations remained open and where we were able to leverage our strong digital presence, we saw strong sales growth. However, in markets with strict movement restrictions in place or less developed e-commerce adoption, our sales were challenged.”

One boon: home renovation. Consumers stuck inside their homes saw flaws, and set out to fix them. Ridge dubbed it “isolation renovation,” and he noted that in nearly all its direct markets, WD-40 saw double-digit sales growth of WD-40 Multi-Use Product due to this phenomenon.

The pandemic also helped WD-40’s home care and cleaning products performance—a sector that generated positive cash flows for the company but typically experienced decreasing or flat sales. According to WD-40, sales of home care and cleaning products increased by 15% in the fourth quarter when compared to the prior year fiscal quarter, and that came following a significant increase beginning in the third quarter of fiscal year 2020.

Things have continued to look brighter for the company so far this year.  Total net sales for the first quarter of fiscal 2021 rose 26% compared to the prior year fiscal quarter with net sales of homecare and cleaning products up 15 %. In the second quarter, total net sales were 12% compared to the prior year fiscal quarter. There has been a slowdown in growth, however, in home care.

San Diego, CA
www.wd40company.com
Sales: $408 million

Sales: $408 million.

It can be found in 4 out of 5 American households, yet the ingredients in the household staple are known only to a handful of people across the globe—that’s why WD-40 Company pulled out all the stops on Sept. 12, 2018 enlisting the help of an armored vehicle and top-notch security, to move its secret formula to a secure bank vault.

Starting at the WD-40 Company headquarters in San Diego, WD-40 president and CEO Garry Ridge entrusted Brink’s to transport him handcuffed to a briefcase carrying the secret formula. The formula—which reportedly hasn’t been touched by human hands in more than 15 years—is the company’s prized possession. The inonic blue and yellow cans are sold in 176 countries and territories worldwide.
And while the “secret sauce” has had the same basic ingredients since the company’s inception 65 years ago, WD-40 is anything but static.

“WD-40 Company was founded in 1953 as Rocket Chemical Company by three technicians looking for a rust- preventive solvent to protect missiles from corrosion and has grown well beyond the beloved multi-use formula,” said Ridge. “We’re constantly looking for ways to make it better than it is today, delivering unique, high value and easy-to-use solutions for a variety of maintenance needs. This has included not only new ways to apply our multi- use product, like our WD-40 EZ Reach, which includes a bendable straw to get into hard-to-reach places, but also new product lines for DIYers and trade professionals alike.”

“While our products and the secret formula are fundamental to our success, so too are our people,” said Ridge. “We exist to create positive lasting memories in everything we do, and we couldn’t do that without our nearly 500 tribe members across the globe who are dedicated to living our values, solving problems and making things work smoothly in workshops, factories and homes.”

Home care and cleaning product sales rose 7% to slightly more than $408 million for the fiscal year of 2018. Company growth for 2019 is projected to be between 4 and 7% with total net sales expected to be between $425 million and $437 million.

San Diego, CA
www.wd40company.com

Sales: $380 million.

Sales fell less than 1% last year, primarily due to forex; in fact, sales outside the US, reached 61% in fiscal 2017. Without the effects of negative exchange rates, primarily within EMEA, sales would have risen 5%. Leading the way was the WD-40 Specialist line, which are geared toward trade professionals. Specialist sales rose 20% to nearly $26 million last year.

By region, sales in the Americas fell 3% to about $185 million. EMEA sales rose 2% to nearly $137 million and sales in Asia-Pacific rose 9% to nearly $59 million.

For the six months, ended March 31, 2018, sales rose 7% to nearly $199 million. Sales of WD-40 and other maintenance products rose 8% to more than $180 million, but homecare and cleaning product sales declined 2% to $18.5 million.

San Diego, CA
www.wd40company.com

Sales: $380 million.

WD-40’s sales for the full fiscal year were $380 million, an increase of 1% compared to the prior fiscal year.  Sales of its maintenance products, the brand’s primary business, rose 2% as WD-40’s home care and cleaning segment sales dropped 9%. According to company, home care and cleaning products, particularly those in the US, remain harvest brands that while providing healthy profit returns to the company, continue to become a smaller part of WD-40’s business. It’s a statement the company has made before, and one has to wonder if soon enough those brands may find a new owner.

San Diego, CA
888.324.7596
www.wd40company.com

Sales: $368 million. Net income: $39 million for the year ended August 31, 2013.

Fiscal year 2013 marked WD-40’s 60th anniversary. It all began in 1953 when Rocket Chemical president Norm Larsen developed the WD-40 Multi-Use product. Today, WD-40 is a staple found in garages and on workbenches across the world.  In fact, WD-40 products are sold worldwide in markets such as North, Central and South America, Asia, Australia and the Pacific Rim, Europe, the Middle East and Africa.

While it is best known for the brand it is now named after, WD-40 Company also owns household products like 2000 Flushes, X-14, Carpet Fresh, and Spot Shot as well as Lava brand of heavy-duty hand cleaners.

WD-40 has continued to invest in R&D—incurring research and development expenses of $7.2 million, $5.1 million and $5.5 million in fiscal years 2013, 2012 and 2011—and is proud to boast about its innovative products including WD-40 Smart Straw, WD-40 Trigger Pro, 3-in-One Professional Garage Door Lube, Spot Shot Pet Clean,  a non-aerosol Spot Shot trigger product, and a mildew stain remover under the X-14 brand.

WD-40 Bike Company LLC, its new business unit focused bicycle maintenance products for cyclists and mechanics sold at independent retailers, has been up and running since Q4 2012. The line includes lubricants as well as degreasers, a foaming bike wash and other products designed for the avid cyclist, bike fans and mechanics.

But not all new lines have proved as successful. WD-40 is pulling the plug on its Blue Works brand, which it launched in 2010 and expanded to Europe in fiscal 2011.

According to WD-40, its home care and cleaning products are considered “harvest brands providing positive returns to the company, but they are becoming a smaller part of the business as the multi-purpose maintenance products sales grow as the company executes its core strategic initiatives.”

Further, the company said it began to “evaluate the strategic alternatives” for certain of its home care and cleaning products.
To date, no decisions have been made relative to the future strategic plans for these brands.

During the fiscal year ended August 31, 2013, home care and cleaning products sales fell 15%.

San Diego, CA
888.324.7596
www.wd40company.com
Sales: $336 million.
Net income: $36 million, for the year ended Aug. 31, 2011.

WD-40 remains a staple in the household and auto care products segments, as year-to-date net sales increased 5% to $336.4 million—a record for the company. However, year-to-date net income stayed almost flat, rising 1% to $36.4 million.

“While we are happy with the big year we had and our record sales and net income, the year was not without its own pains with the pressure of rising commodity prices, reduction of gross margin and flat earnings,” explained Garry Ridge, president and chief executive officer, WD-40 Company.

The Americas represented 51% of sales; Europe, 37% and Asia-Pacific, 12%. During the fourth quarter 59% of total sales came from outside the US.

“We launched three new products in the new WD-40 Specialist product line, a portfolio of specialty problem-solving products aimed at the trade and doer enthusiast, as planned in 2011 and had our first shipment to a customer in September 2011,” Ridge said.

WD-40 Company expects fiscal year 2012 net sales of $353.0 million to $370.0 million.
WD-40 also reached out to its customer base in a charitable way. When the WD-40/SEMA Cares Foose charity vehicle rolled off the auction block at the Barrett-Jackson Collector Car Auction on Jan. 20, 2012 in Scottsdale, AZ, it had raised big money for charity—$115,000, to be exact.

Chip Foose, the legendary hot rod designer and TV star who designed the custom 2012 Dodge Challenger SRT8, was on-hand at the auction to see the winning bid come in from Khaled bin Alwaleed bin Talal Alsaud of Riyadh, Saudi Arabia.

This is the third consecutive year WD-40 Company has partnered with SEMA Cares, the charity arm of the Specialty Equipment Market Association, to build a custom vehicle. The WD-40/SEMA Cares Camaro and WD-40/SEMA Cares Mustang also raised money for the same two SEMA Cares charities—Childhelp and The Victory Junction Gang Camps. The three vehicles have raised more than $400,000 for these charities.

In other philanthropic moves, WD-40 named Joel Hamberg as the Rebuilding Together Tradesperson of the Year. Based in Portland, OR, Hamberg, a painter, has assisted his community, neighbors, and those in-need for nearly 30 years.

San Diego, CA

888.324.7596

www.wd40company.com

Sales: $321 million

Sales:

$321 million. Net income: $36 million, for the year ended Aug. 31, 2010.

WD-40 Company’s net sales rose 10% from its last fiscal year, marking a record year for this San Diego, CA-based firm.

“This past year was the best in our company history and, while the gradual stabilization of the global economy has helped, our success is primarily due to our tribe members’ unwavering focus and exceptional execution of our key strategic initiatives,” said Garry Ridge, WD-40 Company president and CEO.“We were able to accomplish what was on our to do list, and that included a focus on both geographic expansion of our core brands and maximizing our position with multi-purpose maintenance products.”

Sales of multi-purpose maintenance products, which include WD-40, 3-In-One and Blue Works brands, were $258.1 million for the full year, up 15%. WD-40’s home care and cleaning product sales, which includes the remainder of its portfolio, totaled $63.4 million for the period, a decline of 5% from the previous fiscal year.

According to the company, the decrease came from several factors—lost distribution and discontinuance of certain product offerings among them—which primarily occurred in the prior fiscal year, but continued to negatively impact sales of these products in fiscal year 2010.

In its annual report, the company wrote:“Although our focus has shifted to our multi-purpose maintenance products, we were still able to either stabilize or increase the sales of certain of our home care and cleaning products in fiscal year 2010 by pursuing our niche markets or expanding our distribution channels.”

By region, WD-40’s America’s segment year-to-date sales were up 7% while Europe segment sales for the year were up 13% year-to-date from the prior fiscal year. Asia/Pacific segment sales were up 20%.

While the spotlight may be off of its home cleaning products, WD-40’s Spot Shot brand is still looking to woo customers. As such, the brand is nearing the end of its “Living Room Makeover” sweepstakes. The grand prize is $5,000. In addition to the big prize, Spot Shot is giving away free product coupons and signed autographs from soap star Austin Peck to one entrant each week during the sweepstakes period.

Company
San Diego, CA
888.324.7596
www.wd40company.com
Sales: $292 million

Sales:
$292 million. Net income: $26 million for the year ended Aug. 31, 2009

WD-40’s new Blue Works line.

Consolidated net sales and net income decreased 8% and 5%, respectively, primarily due to the unfavorable impact of changes in foreign currency exchange rates, the company said. On a constant currency basis, net sales and net income would have increased 2% and 11%, respectively.

Sales of multi-purpose maintenance products fell 5% due to sales declines of 12% in both the Europe and Asia-Pacific segments, partially offset by a sales increase of 3% in the Americas segment. According to WD-40, the fiscal year 2009 sales decline in the Europe segment was due solely to the impact of changes in foreign currency exchange rates. In local currency, Europe posted a 12% increase in sales of multi-purpose maintenance products for fiscal year 2009.

Sales of home care and cleaning products fell 18%, which the firm attributed to decreases in the Americas, Asia-Pacific and European segments of 19%, 15% and 12%, respectively. The fiscal 2009 sales decline in the Americas segment was due to several factors including lost distribution, competition and general economic conditions, according to WD-40. Sales declines in the Europe and Asia-Pacific segments were due solely to the impact of the changes in foreign currency exchange rates. In local currency, the Europe and Asia-Pacific segments experienced increases of 11% and 6%, respectively, in sales of home care and cleaning products.

On a positive note, WD-40 increased gross profit as a percentage of net sales to 49.5% for fiscal year 2009 from 46.8% for fiscal year 2008, primarily due to the impact of worldwide price increases implemented on certain products during fiscal year 2009.

WD-40 has been shifting its focus to the multi-purpose maintenance products segment, admittedly diverting R&D resources away from home care and cleaning products. Visible changes of its strategy shift are streamlined offerings within the X-14 brand and the roll out of a new range called Blue Works. Featuring the “WD-40 Company Signature of Endorsement,” Blue Works industrial grade specialty maintenance products includes lubricants, penetrants, degreasers and cleaners.

San Diego, CA
800.448.9340
www.wd40company.com
Sales: $317 million

Sales: $317 million. Net income: $27.6 million for the year ended Aug. 31, 2008.

Sales rose less than 3% this year, while net income declined less than 3%. Sales growth may have slowed, but not global expansion.The good news is that, for the first time in company’s 55-year history, more than half (53%) of total revenues were generated outside of the U.S. The percentage of WD-40 product sales outside of the U.S. grew from 57% to 62% in 2008. Europe experienced 15% growth compared to the prior fiscal year, primarily due to sales from the new Smart Straw technology, expansion in developing markets, and growth in WD-40’s 3-in-One professional products. China sales increased 66%, a direct result of the company’s decision to develop direct sales activity in that region. Asia sales increased 24% compared to prior fiscal year, and WD-40 sales in Latin America and Canada grew 19% and 6%, respectively.

For the first six months of fiscal 2009, sales fell 8% to $145.4 million and net income declined nearly 3% to $11.7 million.

Looking ahead, WD-40 Company now expects fiscal year 2009 net sales to finish somewhere between $279-$292 million, while net income is projected to be in the $22.5-$25.8 million range.