Jan 12, 2024 - Business
Charted: WD-40's on a tear
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Seven decades after its inventors took 40 attempts to get the formula right — hence the name — WD-40 is having a moment, Nathan writes.
Driving the news: The company that makes it — named WD-40, what else — has enjoyed a 56% runup in its stock over the last year.
- That included a big bump earlier this week after strong earnings.
Zoom in: WD-40 is greasing the skids with an international growth strategy, strong e-commerce sales and what CEO Steve Brass called "premiumized products."
- In the company's most recent period, sales of the WD-40 Smart Straw and EZ Reach totaled 47.6 million, up 16% compared to a year earlier.
The bottom line: "Our business has been firing on all cylinders," Brass said on an earnings call.
