Record Sales Quarter
Third quarter net sales reached $156.9 million, marking a record for the company and reflecting a 1% increase compared to the same period last year.
Maintenance Products Growth
Net sales of maintenance products increased by 2% year-over-year to $150.4 million, with a year-to-date increase of 6% reaching $435.2 million.
Strong Regional Performance
Sales in the Americas increased 4%, with a notable 7% increase in sales of WD-40 Multi-Use Product in the United States. Asia Pacific sales increased 7%, driven by a 19% increase in China.
Gross Margin Recovery
Gross margin improved to 56.2% in the third quarter, up from 53.1% last year, due to higher average selling prices and lower input costs.
Digital Commerce Growth
E-commerce sales were up 11% year-to-date, highlighting the success of the digital commerce strategy.
Improved Earnings Per Share
Diluted earnings per share increased by 5% to $1.54 in the third quarter compared to last year.