WD-40 Co. WDFC, +1.98 percent shares soared in Wednesday’s extended session after the maintenance and cleaning products company’s results and outlook beat Wall Street’s expectations. Following a 2% gain in the regular session, WD-40 shares climbed more than 8% after hours to close at $260.54. The company posted a net income of $21 million, or $1.52 per share, in the fiscal third quarter, compared to $14.5 million, or $1.06 per share, in the year-ago period. The company’s revenue increased to $136.4 million from $98.2 million in the previous quarter. FactSet polled analysts, who predicted $1.15 per share on $108.3 million in revenue. “To reflect the strong sales results we experienced in the third quarter, we’ve increased our revenue expectations and believe that net sales for the full fiscal year will be in the range of $475 million to $490 million, indicating year-over-year sales growth of between 16 and 20%,” said Garry Ridge, WD-40 chairman and chief executive. Analysts predicted total revenue of $461.9 million for the year. “As things normalize following the epidemic, consumer spending habits will shift, and we estimate consolidated net sales to expand in the mid to high single digits,” Ridge predicted./n
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