WD-40 (NASDAQ:WDFC) Releases FY24 Earnings Guidance

WD-40 (NASDAQ:WDFC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.00-5.30 for the period, compared to the consensus estimate of $5.22. The company issued revenue guidance of $570-600 million, compared to the consensus revenue estimate of $577.80 million.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a buy rating and set a $313.00 target price on shares of WD-40 in a research report on Tuesday, June 18th.

WD-40 Stock Performance

WDFC traded down $1.11 during trading on Wednesday, hitting $219.75. 277,716 shares of the stock were exchanged, compared to its average volume of 112,053. The firm has a market capitalization of $2.98 billion, a P/E ratio of 43.57 and a beta of -0.07. WD-40 has a 1-year low of $194.09 and a 1-year high of $278.78. The stock has a fifty day moving average price of $226.48 and a two-hundred day moving average price of $243.33. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.13 by $0.01. WD-40 had a return on equity of 32.30% and a net margin of 12.19%. The company had revenue of $139.10 million for the quarter, compared to analyst estimates of $140.51 million. During the same quarter in the previous year, the company posted $1.21 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that WD-40 will post 5.22 earnings per share for the current year.

WD-40 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 19th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $3.52 annualized dividend and a dividend yield of 1.60%. WD-40’s dividend payout ratio (DPR) is currently 70.26%.

Insider Activity at WD-40

In other WD-40 news, CEO Steven A. Brass purchased 432 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were purchased at an average cost of $232.22 per share, for a total transaction of $100,319.04. Following the completion of the purchase, the chief executive officer now directly owns 20,547 shares in the company, valued at $4,771,424.34. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director David Pendarvis bought 328 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were bought at an average cost of $234.75 per share, for a total transaction of $76,998.00. Following the completion of the transaction, the director now owns 4,934 shares in the company, valued at $1,158,256.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven A. Brass purchased 432 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was bought at an average cost of $232.22 per share, with a total value of $100,319.04. Following the completion of the acquisition, the chief executive officer now owns 20,547 shares of the company’s stock, valued at $4,771,424.34. The disclosure for this purchase can be found here. Insiders have acquired a total of 973 shares of company stock worth $226,910 over the last three months. 0.65% of the stock is currently owned by corporate insiders.

WD-40 Company Profile

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.