Net Sales Growth
Net sales for the second quarter were $146.1 million, an increase of 5% compared to the previous year. Adjusting for foreign currency impacts, net sales would have been $150.9 million, reflecting a 9% increase.
Strong Performance in EIMEA
Sales in EIMEA increased by 10% to $59.6 million. Adjusted for currency impacts, the increase would have been 15%. Notable growth in Italy (28%), France (13%), and Benelux (27%).
Gross Margin Improvement
Gross margin improved to 54.6%, up from 52.4% last year, driven by lower costs of cans and specialty chemicals. Projected to be between 55% and 56% by the end of fiscal year 2025.
WD-40 Specialist Growth
Sales of WD-40 Specialist products increased by 12% year-to-date, with significant growth in EIMEA (14%) and the Americas (12%).
Employee Engagement
Employee engagement index increased to 94%, demonstrating strong workforce motivation and alignment with company goals.