Earnings To Watch: WD-40 (WDFC) Reports Q1 Results Tomorrow
Household products company WD-40 (NASDAQGS:WDFC) will be reporting earnings tomorrow after the bell. Here's what to look for.
Last quarter WD-40 reported revenues of $140.5 million, up 7.7% year on year, beating analyst revenue expectations by 1.6%. It was a good quarter for the company, with a decent beat of analysts' revenue estimates.
Is WD-40 buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting WD-40's revenue to grow 7.6% year on year to $134.4 million, improving on the 7.3% year-over-year decline in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
Looking at WD-40's peers in the consumer staples segment, some of them have already reported Q1 earnings results, giving us a hint what we can expect. General Mills's revenues decreased 1.6% year on year, missing analyst estimates by 4.1% and Constellation Brands reported revenues up 1.4% year on year, missing analyst estimates by 2.6%. General Mills traded down 1% on the results, and Constellation Brands was flat on the results.
Read our full analysis of General Mills's results here and Constellation Brands's results here.
Investors in the consumer staples segment have had steady hands going into the earnings, with the stocks up on average 1.7% over the last month. WD-40 is down 2.5% during the same time, and is heading into the earnings with analyst price target of $198, compared to share price of $232.4.
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The author has no position in any of the stocks mentioned.
