WD-40 Co. Q2 Results Up; Lowers FY22 EPS Outlook

(RTTNews) - Shares of household products manufacturer WD-40 Co. (WDFC) are up 10 percent in Thursday's after-market trading after the company posted improved results in the second quarter. The company, however, lowered its earnings per share outlook, citing the current challenging inflationary environment.

The company's net income in the second quarter rose to $19.5 million or $1.41 per share from $17.2 million or $1.24 per share in the same period last year.

Quarterly net sales were up 16 percent to $130.0 million from $112.0 million a year ago.

On average, analysts polled by Thomson Reuters expected the company to post earnings of $1.01 per share on revenues of $126.8 million in the second quarter. Looking ahead, in fiscal 2022, the company expects net income between $70.7 million and $72.5 million. On a per share basis, earnings are expected between $5.14 and $5.27. Earlier, the company was expecting full year 2022 earnings of $5.24 to $5.38 per share. Net sales growth is projected to be between 7 and 12 percent with net sales expected to be between $522 million and $547 million. Analysts currently expect the company to post earnings of $5.26 per share on revenues of $533.3 million in fiscal 2022.

The stock ended Thursday at $174.51, down $0.27 or 0.15 percent. In after hours, the WDFC is up 10 percent or $18.47 to touch $192.98.