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

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

WD-40 Stock Performance

Shares of NASDAQ:WDFC traded down $1.11 during trading on Wednesday, hitting $219.75. 281,905 shares of the company traded hands, compared to its average volume of 112,270. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 43.57 and a beta of -0.07. The business’s fifty day moving average is $226.48 and its 200-day moving average is $243.33. WD-40 has a one year low of $194.09 and a one year high of $278.78. 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 posted its earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.13 by $0.01. The company had revenue of $139.10 million during the quarter, compared to analyst estimates of $140.51 million. WD-40 had a return on equity of 32.30% and a net margin of 12.19%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 earnings per share. As a group, equities analysts predict that WD-40 will post 5.22 earnings per share for the current fiscal year.

WD-40 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 19th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, July 19th. This represents a $3.52 annualized dividend and a dividend yield of 1.60%. WD-40’s dividend payout ratio is presently 70.26%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at WD-40

In other news, CEO Steven A. Brass bought 432 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was purchased at an average cost of $232.22 per share, for a total transaction of $100,319.04. Following the completion of the transaction, the chief executive officer now directly owns 20,547 shares of the company’s stock, valued at approximately $4,771,424.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Steven A. Brass bought 432 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was purchased at an average cost of $232.22 per share, for a total transaction of $100,319.04. Following the completion of the transaction, the chief executive officer now directly owns 20,547 shares of the company’s stock, valued at approximately $4,771,424.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Pendarvis purchased 328 shares of the company’s stock in a transaction on Friday, April 12th. The stock was bought at an average cost of $234.75 per share, for a total transaction of $76,998.00. Following the acquisition, the director now directly owns 4,934 shares of the company’s stock, valued at approximately $1,158,256.50. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 973 shares of company stock worth $226,910. Company insiders own 0.65% of the company’s stock.

About WD-40

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.