WD-40 Earnings: What To Look For From WDFC
Household products company WD-40 (NASDAQ:WDFC) will be announcing earnings results tomorrow after the bell. Here’s what to look for.
WD-40 beat analysts’ revenue expectations by 6.3% last quarter, reporting revenues of $155 million, up 9.4% year on year. It was a very strong quarter for the company, with full-year revenue guidance exceeding analysts’ expectations and a decent beat of analysts’ earnings estimates.
Is WD-40 a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting WD-40’s revenue to grow 6.2% year on year to $149.2 million, slowing from the 7.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.31 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. WD-40 has missed Wall Street’s revenue estimates three times over the last two years.
Looking at WD-40’s peers in the consumer staples segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Lamb Weston posted flat year-on-year revenue, beating analysts’ expectations by 6.5%, and General Mills reported a revenue decline of 1.2%, in line with consensus estimates. Lamb Weston traded up 2.6% following the results while General Mills’s stock price was unchanged.
Read our full analysis of Lamb Weston’s results here and General Mills’s results here.
Investors in the consumer staples segment have had steady hands going into earnings, with share prices flat over the last month. WD-40 is down 1.5% during the same time and is heading into earnings with an average analyst price target of $276.50 (compared to the current share price of $258.02).
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