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WD-40 Earnings: WDFC Stock Slides on Q2 EPS Beat, Sales Miss

Karl Utermohlen

WD-40 (NASDAQ:WDFC) posted mixed quarterly earnings results late Tuesday, which included earnings that topped what Wall Street called for, while its revenue was below analysts’ guidance, playing a role in WDFC stock falling more than 3% after hours.

WD-40 Earnings

Source: Mike Mozart via Flickr (Modified)

The San Diego, Calif.-based household products business said that for its second quarter of its fiscal 2019, it amassed revenue of $101.3 million, just above the $101 million amassed during the same period in 2018. Analysts predicted the company to bring in revenue of $104 million for the quarter.

Earnings did top the mark for WD-40 as they arrived at $1.14 per share, ahead of the $1.11 per share that Wall Street called for in its guidance. The amount was also 9 cents stronger than the $1.05 cents per share brought in by the organization during its second quarter of 2018.

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For its fiscal 2019, the company now sees its earnings in the range of $4.51 to $4.58 per share, in line with the $4.55 per share that Wall Street projects. WD-40 forecasts 2019 revenue in the range of $425 million to $437 million for the period, with the midpoint guidance of $431 million ahead of analysts’ guidance of $427.7 million for the year.

However, Vice President and CFO Jay Rembolt said that it’s likely the business’ revenue will be close to the low end of the range.

WDFC stock is down about 3.6% after the bell as the strong quarterly earnings showing was not enough to overturn the sales miss. WD-40 shares had been gaining 1.5% during regular trading hours Tuesday.

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