The stock of WD-40 Co (NASDAQ: WDFC) is up this morning after the firm reported better-than-expected financial results.
What happened was this: WD-40 announced quarterly earnings of $1.52 per share, beating the $1.15 per share consensus estimate. The company reported $136.4 million in quarterly revenue, which was higher than the $108.33 million forecast. WD-40 raised its full fiscal year revenue forecast to a range of $475 million to $490 million.
“We had exceptional demand for our maintenance products in the third quarter, and now we are reporting record net sales of $136.4 million, up 39 percent from last year’s third quarter,” said Garry Ridge, chairman and CEO of WD-40.
Associated Link: WD-40 Q3 Earnings Recap
DA WD-40’s rating was kept Neutral by Davidson analyst Linda Bolton Weiser, but the price target was reduced from $295 to $277.
Over the last 52 weeks, WD-40 has gone as high as $333.41 and as low as $183.55.
The stock was up 7.47 percent in premarket trading at $280 at the time of our latest check on Thursday.
WD-40 provided the image.
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