Oppenheimer Comments On Disappointing F2Q Results For WD-40

According to Oppenheimer, WD-40 Company WDFC saw disappointing F2Q Results. Oppenheimer reported that WDFC's F2Q results were disappointing from both a top- and bottom-line perspective, with the sales miss due primarily to weakness in the Americas owing to the timing of promotion activity. “More worrisome, however, is the impact of commodity costs on gross margin, which is likely to get worse next quarter. In addition, the company lowered its full-year F11 guidance, which now includes EPS of $2.23-2.35 vs. $2.25-2.40 prior. We are reducing our estimates and maintaining our Perform rating, as valuation appears fair, particularly given the current commodity cost risk.” WD-40 Company closed yesterday at $43.67.