WD-40 Stock Climbs On Better-Than-Expected Q3 Results: The Details

WD-40 Company WDFC reported its third-quarter financial results Wednesday. Here's a look at the key figures from the report.

The Details:

Quarterly sales came in at $155 million which beat the analyst consensus estimate of $145.8 million by 6.31% and represents 9.37% increase over sales of $141.717 million from the same period last year. Total maintenance product sales were $147.2 million, an increase of 10% compared to the prior year fiscal quarter, and WD-40 reported its gross margin was 53.1% compared to 50.6% in the prior year fiscal quarter.

WD-40 reported quarterly earnings of $1.46 per share which beat the analyst consensus estimate of $1.27 by 14.96%.

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“We delivered another strong quarter with record sales driven by robust volume growth across all three of our trade blocs,” said Steve Brass, WD-40’s CEO.

“Our maintenance product sales achieved impressive growth of over 10 percent for both the third quarter and year-to-date, aligning with our established long-term growth objectives. Additionally, we made significant progress across all four of our Must-Win Battles, including experiencing a strong start in our newest direct market, Brazil. Overall, we are satisfied with our performance and remain confident in our ability to consistently deliver sustainable, profitable growth.”

Outlook: 

The company reiterated its 2024 net sales growth guidance of between 6% and 12% and earnings guidance of between $5 and $5.30 per share.

WDFC Price Action: According to Benzinga Pro, WD-40 shares are up 8.76% after-hours at $239.00 at the time of publication Wednesday.

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