Why WD-40 Company Stock Is Climbing
Portfolio Pulse from Erica Kollmann
WD-40 Company (NASDAQ:WDFC) stock is rising after the company reported Q1 earnings of $1.28 per share, surpassing the $1.05 consensus estimate, and sales of $140.42 million, a 12.43% increase year over year. The company also confirmed its FY 2024 outlook with net sales between $570 million and $600 million and EPS between $4.78 and $5.15. The stock traded heavily and set a new 52-week high of $278.78.
January 10, 2024 | 5:46 pm
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POSITIVE IMPACT
WD-40 Company's stock is experiencing an upsurge following a strong Q1 earnings report, with earnings and sales exceeding expectations and confirmation of a positive FY 2024 outlook.
The positive earnings report and reaffirmed outlook for FY 2024 suggest strong company performance and financial health, which typically leads to increased investor confidence and a rise in stock price. The heavy trading volume and surpassing of the 50-day moving average further indicate a bullish sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100