Jan 13, 2023
WD-40 Has Slow First Quarter
WD-40 had net sales of $124.9 million for the first quarter of 2022, a decrease of seven per cent year over year. Net income for the first quarter was $14 million, a decrease of 25 per cent from the year-ago period. Net sales of the homecare and cleaning products segment were $8.6 million, a decrease of two per cent compared to the prior-year quarter. Net sales of the maintenance products segment were $116.3 million for the quarter, down eight per cent when compared to the first quarter of 2021. This decline was primarily due to lower sales of the WD-40 Multi-Use Product.
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