WD-40 Co. (WDFC) Tops Q3 EPS by 37c

WD-40 Co. (NASDAQ: WDFC) reported Q3 EPS of $1.52, $0.37 better than the analyst estimate of $1.15. Revenue for the quarter came in at $136.4 million versus the consensus estimate of $108.33 million.

"Our tribe continues to work together through the challenges and opportunities associated with the COVID-19 pandemic," said Garry Ridge, WD-40 Company's chairman and chief executive officer. In the third quarter we experienced unprecedented demand for our maintenance products and today we are reporting record net sales of $136.4 million, up 39 percent compared to the third quarter of last year."

"The post-pandemic era is coming. We do not expect to see sales growth of this magnitude over the long-term, however, we believe that the new end users who have interacted with our products during the pandemic will become permanent users of our maintenance products."

"To reflect the strong sales results we experienced in the third quarter, we\'ve increased our revenue expectations and believe that net sales are likely to be in a range of between $475 million to $490 million for the full fiscal year which reflects year-over-year sales growth of between 16 and 20 percent. As things get back to normal post the pandemic, consumer spending patterns will change again, and we expect consolidated net sales to grow in the mid to high single digits," Ridge concluded

For earnings history and earnings-related data on WD-40 Co. (WDFC) click here.

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