Sales: $383 million.
Key Personnel: Garry O. Ridge, president and chief executive officer; Jay W. Rembolt, vice president, finance, treasurer and CFO; Richard T. Clampitt, vice president, general counsel and corporate secretary; Stanley A. Sewitch, vice president, global organization development; Geoffrey J. Holdsworth, managing director, Asia-Pacific; William B. Noble, managing director, EMEA; Michael L. Freeman, division president, Americas.
Major Products: Maintenance, home care and cleaning products sold under brands including WD-40, 3-In-One Oil, X-14, 2000 Flushes, Carpet Fresh, No Vac, Spot Shot, 1001, Lava and Solvol.
Comments: WD-40 Company’s multi-purpose maintenance products sales—which include the famed WD-40 and 3-in-One brands—rose 5% to $337.8 million, while the firm’s home and cleaning products sales were $45.2 million, down 5% from the prior fiscal year.
Sales in the Americas segment, which includes the US, Canada and Latin America, remained relatively constant at $180.8 million. Multi-purpose maintenance products rose 2%, primarily driven by higher sales of WD-40 multi-purpose maintenance products in Latin America and the US, which were up 7% and 2%, respectively. The increase in Latin America was primarily due to the continued growth of the WD-40 multi-use products throughout the Latin America region, including in Ecuador, Mexico and Argentina, and a higher level of promotional activities associated with the 2014 World Cup Tournament. The sales increase in the US, according to WD-40, came from a higher level of promotional activities and increased distribution for WD-40 and higher sales of the WD-40 Specialist product line. Sales of homecare and cleaning products in the Americas segment fell 7%, driven primarily by lower sales of Carpet Fresh and Spot Shot products, which were down 28% and 8%, respectively, in fiscal 2014.
While its said that 8 out of 10 US households have at least one can of WD-40 Multi-Use Product in their home, things aren’t quite the same for its other brands. While homecare and cleaning products continue to generate positive cash flows, WD-40 reports that it continues to “see lost distribution, reduced product offerings, competition, category declines and the volatility of orders from and promotional programs with certain of our customers, particularly those in the warehouse club and mass retail channels.”
Last September, WD-40 completed the acquisition GT85 Limited, a UK marketer multi-purpose maintenance products.
For the second fiscal quarter ended February 28, 2015, total net sales were $97.3 million, an increase of 3% compared to the prior year fiscal quarter. Year-to-date total net sales were $193.7 million, an increase of 2%, according to the firm.