As the craze of earnings season draws to a close, here's a look back at some of the most exciting (and some less so) results from Q2. Today, we are looking at consumer staples stocks, starting with WD-40 (NASDAQ:WDFC).

The consumer staples industry comprises companies engaged in the manufacturing, distribution, and sale of essential, everyday products. These products, also known as "staples," are fundamental to daily living and include packaged food, beverages and alcohol, personal care, and household products. Consumer staples stocks are considered defensive investments because consumers often purchase them regardless of economic conditions. To stand out, companies must have some combination of brand recognition, product quality, and price competitiveness.

The 7 consumer staples stocks we track reported an ok Q2; on average, revenues were in line with analyst consensus estimates. Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. But the beginning of 2024 has seen more volatile stock performance due to mixed inflation data, and consumer staples stocks have held roughly steady amidst all this, with share prices up 2.4% on average since the previous earnings results.

Best Q2: WD-40 (NASDAQ:WDFC)

Short for “Water Displacement perfected on the 40th try”, WD-40 (NASDAQ:WDFC) is a renowned American consumer goods company known for its iconic and versatile spray, WD-40 Multi-Use Product.

WD-40 reported revenues of $155 million, up 9.4% year on year, exceeding analysts' expectations by 6.3%. Overall, it was a strong quarter for the company with full-year revenue guidance beating analysts' expectations and a decent beat of analysts' earnings estimates.

WD-40 achieved the biggest analyst estimates beat and fastest revenue growth of the whole group. The stock is up 14.3% since reporting and currently trades at $251.30.

Is now the time to buy WD-40? Access our full analysis of the earnings results here, it's free.

Constellation Brands (NYSE:STZ)

With a presence in more than 100 countries, Constellation Brands (NYSE:STZ) is a globally renowned producer and marketer of beer, wine, and spirits.

Constellation Brands reported revenues of $2.66 billion, up 5.8% year on year, in line with analysts' expectations. It was a solid quarter for the company with optimistic earnings guidance for the full year and a decent beat of analysts' gross margin estimates.

Although it had a great quarter compared its peers, the market seems unhappy with the results as the stock is down 3.8% since reporting. It currently trades at $249.

Is now the time to buy Constellation Brands? Access our full analysis of the earnings results here, it's free.

Weakest Q2: General Mills (NYSE:GIS)

Best known for its portfolio of powerhouse breakfast cereal brands, General Mills (NYSE:GIS) is a packaged foods company that has also made a mark in cereals, baking products, and snacks.

General Mills reported revenues of $4.71 billion, down 6.3% year on year, falling short of analysts' expectations by 3%. It was a weaker quarter for the company with a miss of analysts' organic revenue growth estimates.

General Mills posted the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 6.5% since the results and currently trades at $62.88.

Read our full analysis of General Mills's results here.

McCormick (NYSE:MKC)

The classic red Heinz ketchup bottle’s competitor, McCormick (NYSE:MKC) sells food-flavoring products like condiments, spices, and seasoning mixes.

McCormick reported revenues of $1.64 billion, flat year on year, in line with analysts' expectations. More broadly, it was a solid quarter for the company with a decent beat of analysts' organic revenue growth and earnings estimates.

The stock is up 8.3% since reporting and currently trades at $73.32.

Read our full, actionable report on McCormick here, it's free.

Simply Good Foods (NASDAQ:SMPL)

Best known for its Atkins brand that was inspired by the popular diet of the same name, Simply Good Foods (NASDAQ:SMPL) is a packaged food company whose offerings help customers achieve their healthy eating or weight loss goals.

Simply Good Foods reported revenues of $334.8 million, up 3.1% year on year, in line with analysts' expectations. Zooming out, it was an ok quarter for the company with a decent beat of analysts' gross margin estimates.

The stock is up 3% since reporting and currently trades at $37.25.

Read our full, actionable report on Simply Good Foods here, it's free.

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