Why WD-40 Shares Are Gaining Today
Portfolio Pulse from Lekha Gupta
WD-40 Co (NASDAQ:WDFC) reported a Q3 FY23 revenue increase of 15% Y/Y at $141.7 million, beating the consensus of $138.4 million. Gross margin expanded to 50.6% from 47.7% in the prior-year quarter. The company also declared a quarterly dividend per share of $0.83 and repurchased shares worth $1.8 million in the quarter. The board approved a new share repurchase plan of buying back up to $50.0 million of common shares through August 31, 2025. The company reiterated its 2023 outlook, expecting net sales of $535 million-$560 million and an EPS of $4.80-$5.00.
July 11, 2023 | 9:42 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
WD-40 Co's Q3 FY23 results beat consensus estimates, with revenue and gross margin increasing. The company also declared a dividend and repurchased shares, and reiterated its 2023 outlook.
WD-40 Co's Q3 FY23 results exceeded consensus estimates, which is a positive signal to investors. The company's actions of declaring a dividend and repurchasing shares also indicate a strong financial position, which could boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100