WD-40 Co (NASDAQ:WDFC) stock fell 0.51% (As on January 10, 11:25:02 AM UTC-4, Source: Google Finance) though the company beat Wall Street’s expectations for the first quarter of FY 25. Total maintenance product sales were $145.5 million, an increase of 10 percent compared to the prior year fiscal quarter. Gross margin was 54.8 percent compared to 53.8 percent in the prior year fiscal quarter. Advertising and sales promotion expenses were $8.4 million, up 20 percent compared to the prior year fiscal quarter. These expenses accounted for 5.5 percent of total net sales, up from 5.0 percent in the prior year fiscal quarter. Operating income was $25.1 million, an increase of 4 percent from the prior year fiscal quarter. Net income was $18.9 million, an increase of 8 percent from the prior year fiscal quarter.

Moreover, net sales in the Americas increased 8 percent in the first quarter compared to the prior year fiscal quarter primarily due to an increase in net sales of WD-40_® Multi-Use Product of 9 percent. WD-40_® Multi-Use Product sales increased most significantly in the United States and Latin America, which were up $2.4 million and $2.3 million, respectively. These increases were slightly offset by lower sales in Canada, which were down by $0.2 million. Net sales in EIMEA increased 18 percent in the first quarter compared to the prior year fiscal quarter primarily due to an increase in net sales of WD-40® Multi-Use Product of 21 percent. WD-40® Multi-Use Product sales increased in almost all regions. Sales increased most significantly in India, France, the Benelux regions, and Iberia, which were up $1.9 million, $1.0 million, $0.9 million and $0.9 million, respectively, from period to period. Net sales of WD-40 Specialist increased 17 percent primarily due to higher sales volume as a result of increased distribution and stronger levels of demand most significantly in Iberia, U.K. and Italy. Net sales in Asia-Pacific decreased 4 percent in the first quarter compared to the prior year fiscal quarter primarily due to a decrease in sales of WD-40_® Multi-Use Product of 6 percent.

WDFC in the first quarter of FY 25 has reported the adjusted earnings per share of $1.39, beating the analysts’ estimates for the adjusted earnings per share of $1.31. The company had reported the adjusted revenue growth of 9 percent to $153.5 million in the first quarter of FY 25, beating the analysts’ estimates for revenue of $147.4 million.

Going forward, net sales growth is from the pro-forma 2024 results is projected to be between 6 and 11 percent with net sales between $600 million and $630 million. Diluted earnings per share is expected to be between $5.20 and $5.45.