WD-40 Reiterates FY24 Net Sales Guidance $570M-$600M, Increases EPS Guidance From $4.78-$5.15 To $5.00-$5.30

Author: Benzinga Newsdesk | April 09, 2024 04:09pm

Updating Fiscal Year 2024 Guidance

The Company is providing the following guidance for fiscal year 2024:

• Reiterating net sales growth between 6 and 12 percent, with net sales expected to be between $570 million and $600 million on a non-GAAP constant currency basis.
• Narrowing the gross margin range to now be between 51.5 and 53 percent, compared to prior guidance of between 51 and 53 percent.
• Advertising and promotion investments are still expected to be between 5 and 6 percent of net sales.
• Lowering the provision for income tax to now be in the range of 23 and 24 percent, compared to prior guidance of between 24 and 25 percent.
• Increasing net income to now be in the range of $67.7 million and $71.8 million, compared to prior guidance of between $65 million and $70 million.
• Increasing diluted earnings per share to now be in the range of $5.00 and $5.30, compared to prior guidance of between $4.78 and $5.15.
• Diluted earnings per share guidance is based on an estimated 13.6 million weighted average shares outstanding, which is unchanged from prior guidance.

Posted In: WDFC