Steve Brass on market penetration
From WD-40 CEO reveals strategy for oil costs and global expansion · · Fox Business
“There are a lot of consumers who have yet to meet the brand in China as well — we are already very strong, 65% of our sales are outside of the U.S. today but we have a lot of runway for international growth around the world.”
On , Steve Brass, Chief Executive Officer, President & Director at The WD-40 Company (Rocket Chemical Company), spoke about market penetration during WD-40 CEO reveals strategy for oil costs and global expansion on Fox Business.
About Steve Brass
Steve Brass, President and CEO of WD-40 Company, has emphasized the company's strategy of manufacturing close to its end users as a key advantage amid tariff disruptions. He stated that the company manufactures in the U.S. for the U.S. and in China for China, avoiding large cross-border product volumes and thus minimizing tariff exposure. Brass also discussed the company's focus on its core WD-40 brand, which he said accounts for 80% of sales, and noted that the company is in the process of divesting household brands acquired years ago to concentrate on international growth, particularly in markets like China and the Middle East. He mentioned that 65% of sales are outside the U.S. and that the company sees significant runway for further global expansion, including opening a plant in Thailand. On financial matters, Brass reported that the company posted record third-quarter net sales of $156.9 million in fiscal 2025, with gross margin improving to 56.2%. He noted that oil, which makes up about 35% of product content, has a 90-day lag before price changes affect the company, and that WD-40 plans for a crude oil range of $65 to $85 for fiscal 2026. Brass also highlighted the company's share buyback program, which he said was more than doubled compared to the prior year, alongside a dividend strategy paying out about 50% of earnings. In discussions on corporate culture, Brass has promoted psychological safety and a "learning moment" philosophy, describing the company's employee turnover rate as between 4% and 8% and noting that 70% to 80% of leadership positions are filled internally.