WD-40 touts commerce, ERP overhaul

WD-40 reported its second quarter earnings and most of Wall Street was looking for guidance on how higher oil prices would affect the business. They got a bit of technology insight too.

Key takeaways from WD-40 CEO Steven Brass:

• "At WD-40 Company, technology is a critical enabler of productivity and scale for building a digital foundation designed to support global growth and increase operational flexibility, helping us execute our strategy faster and more effectively."
• "We've made meaningful progress deploying proven AI-enabled platforms like Microsoft Dynamics 365, Salesforce and Atlas for supply chain. Our goal isn't just personal efficiency; it's rethinking processes across the business. We are where appropriate, leveraging artificial intelligence across certain parts of the business to improve efficiency and augment decision-making. Our focus remains on practical responsible applications that enhance productivity and support our teams. In addition, we continue to make progress in our enterprise resource planning or ERP implementation."
• "Our fourth must-Win battle is to turbocharge digital commerce. Our digital commerce strategy plays a vital role in advancing each of our Must-Win Battles by increasing brand visibility, improving accessibility and deepening end user engagement across global markets. Year-to-date, e-commerce sales increased 23%, driven primarily by strong momentum in the United States and China."

Brass added that the company has also optimized its decentralized supply chain so it can adapt to disruptions.

The company reported better-than-expected fiscal second quarter earnings of $1.50 a share on revenue of $161.7 million, up 11% from a year ago. Non-GAAP earnings were $1.32 a share. The company reaffirmed its outlook for sales growth between 5% and 9%.