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WD-40 Company (NASDAQ:WDFC) shares are trading higher in Tuesday's after-hours session on the heels of the company's first-quarter financial results. Here's a overview of its performance during the quarter.
What To Know: WD-40 reported quarterly earnings of $1.28 per share which exceeded the analyst consensus estimate of $1.05.
The company reported quarterly sales of $140.42 million, clocking in above the Steet's estimate of $134.37 million, marking a 12.43% increase year over year.
WD-40 boasted global net sales growth of 12% year-over-year. Additionally, gross margin for the first-quarter was 53.8% compared to 51.4% in the same quarter last year.
WD-40 reiterated its full-year 2024 outlook which includes net sales anticipated to be between $570 million and $600 million on a non-GAAP constant currency basis and diluted earnings per share expected to be between $4.78 and $5.15.
"We're off to a very solid start in fiscal year 2024 and we are pleased to see sales volumes continue to recover as well as continued improvement in our gross margin," said Sara Hyzer, WD-40 Company's vice president, finance and CFO.
"However, we know our results can vary from quarter to quarter based on the timing of promotional activities, market mix, and the impacts from a world which is filled with volatility, uncertainty, complexity, and ambiguity. Therefore, we continue to believe our current guidance is our best estimate and so we are reiterating our outlook for fiscal year 2024 today."
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WDFC Price Action: Shares of WD-40 were up 7.03% at $253.24 in the after-hours session at the time of publication, according to Benzinga Pro.
Posted In: WDFC
