Shares of WD-40 Company (NASDAQ: WDFC) are positive. That’s because their Q3 earnings per share beat expectations and they reaffirmed their full-year growth forecast.
1. Exceeded Q3 results and reaffirmed full-year guidance
Since the third quarter of this year ended May 31, the company’s earnings per share (EPS) has increased about 29% from $1.07 to $1.38 compared to the same period last year. Analysts on Bloomberg were expecting EPS of $1.22 for the period, but the company actually surpassed that.
2. higher net sales and strong sales in the U.S.
WD-40 Company’s net sales grew 15% year-over-year to $141.7 million. In the U.S., a key sales region for the company’s core product, lubricant cans, higher prices for maintenance products more than offset lower sales volumes, boosting results.
3. Impact of external factors
But not everything was perfect. Steve Brass, president and CEO of WD-40, noted that currency fluctuations had a “significant negative impact” on the company’s results this quarter.
4. Looking ahead
Nevertheless, the San Diego, California-based company reaffirmed its guidance for fiscal year 2023. The company expects net revenue growth of 3.5% to 7.5%, and EPS in the range of $4.80 to $5.00.
常見問題
Q1: How much did WD-40 Company’s earnings per share (EPS) increase?
It was up about 29% over the same period last year to $1.38.
Q2: How did your company’s net sales change?
WD-40 Company’s net sales grew 15% year-over-year to $141.7 million.
Q3: How have currency fluctuations affected WD-40’s performance?
The company’s CEO, Steve Brass, noted that currency fluctuations had a significant negative impact on this quarter’s results.
Q4: What kind of growth does WD-40 expect in the future?
For fiscal year 2023, the company expects net revenue growth of 3.5% to 7.5%, and EPS in the range of $4.80 to $5.00.
Q5: Who is WD-40 and what are your main products?
The WD-40 Company, originally Rocket Chemical Company, is an American manufacturer of household and multipurpose products, including the signature brand WD-40, as well as 3-In-One Oil, Lava, Spot Shot, and X-. It is one of the oldest companies, founded in 1953. WD-40’s main product is a can of lubricant.
Company website: https://www.wd40company.com
