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Nov 30, 2025
WD-40 Q1 2026 Earnings Report
WD-40 reported modest revenue growth and improved gross margins in Q1 2026 despite timing-related softness in distributor markets.
Key Takeaways
WD-40 delivered a slight increase in sales and strengthened gross margins in Q1 2026, supported by growth in direct markets and robust performance from its WD-40 Specialist line and e-commerce. However, net income and EPS declined year-over-year.
Revenue rose 1% to $154.4M, driven by direct market growth.
Gross margin expanded to 56.2%, up from 54.8% a year ago.
Net income fell to $17.5M, down 8% year-over-year.
WD-40 Specialist sales rose 18%, and e-commerce grew 22%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
WD-40 reaffirmed its FY26 guidance and expects to deliver results at the mid-to-high end of its projected ranges.
Positive Outlook
- FY26 revenue projected between $630M–$655M.
- Gross margin expected between 55.5%–56.5%.
- Operating income projected between $103M–$110M.
- EPS expected between $5.75–$6.15.
- Dividend increased 8%, showing confidence in cash flow.
Challenges Ahead
- First-quarter softness from timing issues in distributor markets.
- Asia-Pacific revenue dropped 10%, mainly due to lower distributor sales.
- Net income declined 8% year-over-year.
- EPS decreased to $1.28 from $1.39 a year ago.
- Free cash flow not disclosed for the quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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