Business
WD-40 Company Reports Second Quarter 2025 Financial Results
~ Net sales of maintenance products increase 6 percent in second quarter ~ ~ Management revises fiscal year 2025 gross margin and EPS guidance upward ~ SAN
About this update from Wd-40 Company
[{"type":"text","content":"\n~ Net sales of maintenance products increase 6 percent in second quarter ~\n\n~ Management revises fiscal year 2025 gross margin and EPS guidance upward ~\n\n SAN DIEGO--(BUSINESS WIRE)--\nWD-40 Company (NASDAQ:WDFC), a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world, today reported financial results for its second fiscal quarter ended February 28, 2025.\n\nSecond Quarter Highlights and Summary:\n\n\nTotal net sales were $146.1 million, an increase of 5 percent compared to the prior year fiscal quarter.\n\n\nTranslation of the Company’s foreign subsidiaries’ results from their functional currencies to U.S. dollars had an unfavorable impact on net sales of approximately $4.9 million for the current quarter.\n\n\nTotal maintenance product sales were $139.3 million, an increase of 6 percent compared to the prior year fiscal quarter.\n\n\nGross margin was 54.6 percent compared to 52.4 percent in the prior year fiscal quarter.\n\n\nSelling, general, and administrative expenses were $49.0 million, up 9 percent compared to the prior year fiscal quarter.\n\n\nAdvertising and sales promotion expenses were $7.4 million, up 10 percent compared to the prior year fiscal quarter. These expenses accounted for 5.1 percent of total net sales, up from 4.8 percent in the prior year fiscal quarter.\n\n\nOperating income was $23.3 million, an increase of 11 percent from the prior year fiscal quarter.\n\n\nNet income was $29.9 million, an increase of 92 percent from the prior year fiscal quarter. During the second quarter of fiscal year 2025, the Company released an uncertain tax position that generated a favorable income tax adjustment of $11.9 million(1). Excluding this one-time benefit, net income would have increased $2.4 million, or 15 percent compared to the prior year fiscal quarter.\n\n\nDiluted earnings per share were $2.19 compared to $1.14 in the prior year fiscal quarter, an increase of 92 percent. The income tax benefit of $11.9 million(1) resulted in a favorable impact to diluted earnings per share of $0.87. As a result, Non-GAAP adjusted diluted earnings per share were $1.32 compared to $1.14 in the prior year fiscal quarter, an increase of 16 percent.\n\n\n\"We delivered another strong quarter with ...