WD 40 CO

WD-40 Company has executed an indemnity agreement and a change in control severance agreement with its newly appointed principal accounting officer, Nicholas D. Giordano. These agreements, which are in the form previously approved by the Board for officers, will become effective on June 29, 2026, coinciding with Mr. Giordano's appointment.

WD-40 Company announced several executive leadership appointments and transitions as part of a planned strategy to strengthen organizational alignment and support long-term growth. Sara K. Hyzer, the current CFO and PAO, will transition to Division President, Americas, following the appointment of a new CFO. Nicholas D. Giordano has been designated as PAO, effective June 29, 2026, and will also assume the role of VP, Corporate Controller and Chief Accounting Officer with an annual base salary of $250,000. Additionally, Patricia Q. Olsem will become Chief Strategy and Innovation Officer, and Claudia Fenske will be Chief Brand and Marketing Officer, both in newly created executive roles.

WD-40 Company's latest quarterly report for the period ended February 28, 2026, reveals shifts in its balance sheet. Cash and cash equivalents decreased by 13.4% to $50.3 million from $58.1 million at August 31, 2025. Concurrently, inventories increased by 7.1% to $85.5 million, potentially indicating a build-up in stock. Total current assets remained relatively stable, experiencing a slight decrease of 0.2% to $284.4 million. These movements in working capital components suggest changes in operational liquidity and inventory management strategies over the period.

WD-40 Company announced strong financial results for its second fiscal quarter ended February 28, 2026, with total net sales increasing 11% to $161.7 million, or 4% in constant currency. The company's core maintenance product sales grew 13%, or 6% in constant currency, aligning with long-term growth expectations. Gross margin expanded by 100 basis points to 55.6%, driven by recent supply chain initiatives, contributing to a 13% increase in operating income. Despite a 32% decrease in GAAP net income and EPS due to a one-time tax benefit in the prior year, non-GAAP adjusted diluted EPS increased 14% to $1.50, and management confidently reaffirmed its fiscal year 2026 guidance, anticipating robust growth in the Americas.