WD-40 Company Earnings Summary — Q3 2026

• WD-40 delivered exceptional Q3 2026 revenue growth of 24.35% YoY, reaching $195.12 million.
• Net income surged by 44% compared to the prior-year quarter, significantly outpacing revenue growth.
• Gross profit margins improved to 56.5% this quarter, compared to 56.1% in the prior-year period.
• Operating income showed significant leverage, rising to $40.34 million from $27.37 million YoY.
• The balance sheet remains lean with a focus on high ROE, consistently exceeding historical benchmarks.
• Management’s 55/30/25 target remains the core financial discipline guiding long-term profitable expansion.
• Operating expenses as a percentage of revenue decreased, showcasing effective cost management during growth.
• Growth is largely driven by expansion in the 'Specialist' product line and emerging market penetration.

Management continues to target its long-term '55/30/25' rule, which aims for 55% gross margin, 30% EBITDA margin, and 25% net income. Guidance remains focused on volume growth in the core WD-40 multi-use product and geographic expansion in China and India.

Improving

Revenue and net income growth accelerated significantly compared to previous quarters, reversing the slower growth trends observed in early FY2026.

The company is positioned for continued geographic expansion and specialty product growth. While petroleum-based input costs remain a risk, the company's asset-light model and high pricing power provide a defensive cushion against inflationary pressures.