WD-40 (NASDAQ:WDFC) Updates FY 2024 Earnings Guidance

WD-40 (NASDAQ:WDFC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 5.000-5.300 for the period, compared to the consensus estimate of 5.230. The company issued revenue guidance of $570.0 million-$600.0 million, compared to the consensus revenue estimate of $577.8 million. WD-40 also updated its FY24 guidance to $5.00-5.30 EPS.

Analyst Ratings Changes

Separately, DA Davidson lowered their target price on shares of WD-40 from $313.00 to $303.00 and set a buy rating on the stock in a research note on Thursday.

WD-40 Stock Performance

NASDAQ:WDFC opened at $228.63 on Friday. The stock has a 50-day moving average price of $226.31 and a 200 day moving average price of $243.06. The stock has a market capitalization of $3.10 billion, a P/E ratio of 44.92 and a beta of -0.07. WD-40 has a 12-month low of $194.09 and a 12-month high of $278.78. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40.

WD-40 (NASDAQ:WDFC) last announced its quarterly earnings data on Wednesday, July 10th. The specialty chemicals company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. WD-40 had a net margin of 12.07% and a return on equity of 32.43%. The business had revenue of $155.05 million during the quarter, compared to analyst estimates of $145.80 million. During the same period last year, the firm posted $1.38 EPS. The company’s revenue was up 9.4% on a year-over-year basis. Equities research analysts forecast that WD-40 will post 5.22 EPS for the current fiscal year.

WD-40 Announces Dividend

The business also recently declared 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. This represents a $3.52 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, July 19th. WD-40’s payout ratio is currently 69.16%.

Insider Activity

In other news, CEO Steven A. Brass bought 432 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were bought 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 owns 20,547 shares of the company’s stock, valued at $4,771,424.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WD-40 news, CEO Steven A. Brass acquired 432 shares of the stock in a transaction on Tuesday, April 16th. The stock was acquired at an average price 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 $4,771,424.34. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sara Kathleen Hyzer acquired 213 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was acquired at an average cost of $232.83 per share, with a total value of $49,592.79. Following the completion of the purchase, the chief financial officer now directly owns 2,676 shares in the company, valued at $623,053.08. The disclosure for this purchase can be found here. 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.