WD-40 Posts Q1 Earnings Beat And Reaffirms Full-Year Forecast: The Details
Portfolio Pulse from Ryan Gustafson
WD-40 Company (NASDAQ:WDFC) reported Q1 earnings of $1.28 per share, surpassing the consensus estimate of $1.05, and sales of $140.42 million, exceeding estimates of $134.37 million. The company experienced a 12.43% year-over-year sales increase and improved gross margin to 53.8%. WD-40 reaffirmed its full-year 2024 forecast with net sales expected between $570 million and $600 million and EPS between $4.78 and $5.15. Shares rose 7.03% in after-hours trading.
January 09, 2024 | 9:55 pm
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WD-40 Company reported strong Q1 earnings and sales, surpassing analyst estimates, with improved gross margins and reaffirmed full-year 2024 guidance, leading to a 7.03% increase in after-hours trading.
The positive earnings report and sales figures exceeding expectations indicate strong company performance and financial health, which typically leads to increased investor confidence and can drive the stock price up in the short term. The reaffirmation of the full-year forecast further supports the positive outlook for the company, contributing to the after-hours stock price rise.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100