|Iconic maintenance and cleaning product company WD-40 (WDFC) reported fiscal first-quarter profit of $11.8 million on $89.2 million in revenue at 82 cents per share (EPS). The results missed analysts expectations by 5 cents. The average estimate analysts surveyed by Zacks Investment Research was for 87 EPS.|
Guidance:WD-40 expects full-year earnings to be $3.64 to $3.71 per share with revenue in the range of $395 million to $404 million.
Reaction: WD-40 NASDAQ: WDFC After-hours: 110.40 -$6.90 -5.88%
WD-40 closed at $117.65 before the report, a gain of 24 percent in the last 12 months. WD-40 on its website claims 2000 uses for its product.
via: https://alphastreet.com/app#/homeForeign Exchange Affect
WDFC 1Q17 net sales of maintenance products declined 4% compared to a year ago, driven by unfavorable foreign exchange rate and timing of orders.
Similarly, net sales of homecare and cleaning products fell 2% compared to the year ago quarter.Guidance
For FY17 WDFC expects net sales growth in the range of 4-6% with net sales expected to be between $395-404MM. Net income is expected to be between $51.3-52.3MM and diluted EPS is expected to be between $3.64-3.71, based on an estimated 14.1MM weighted average shares outstanding. The company also expects gross margin percentage to be near 56% for FY16.More Earnings NewsWells Fargo (WFC) Earnings Preview JPMorgan Chase (JPM) Earnings PreviewBank of America (BAC) Preview Live From The Pit