WD-40 Co. shares rallied in the extended session Thursday after the maintenance and cleaning products company posted a big earnings beat and forecast that rising inflation would have a small effect on the year’s profit.
WD-40
WDFC,
shares surged more than 11% after hours, following a 0.2% decline in the regular session to close at $174.51.
The company reported fiscal second-quarter net income of $19.5 million, or $1.41 a share, compared with $17.2 million, or $1.24 a share, in the year-ago period.
Revenue rose to $130 million from $111.9 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast $1.01 a share on revenue of $126.8 million.
“As we look to the remainder of the fiscal year, we’ve reduced our net income guidance by approximately two percent for the full fiscal year due to the challenging inflationary environment we are currently operating in,” said Garry Ridge, WD-40 chairman and chief executive, in a statement. “However, we have been able to maintain our revenue guidance and believe we will finish fiscal year 2022 with both topline and bottom-line growth.”
Earlier in the year, the company forecast full-year revenue of $522 million to $547 million. Analysts expect full-year revenue of $533.3 million.
Earlier in the week, the stock was downgraded due to rising costs and a small exposure to Russia.
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here
Beats Pill - Bluetooth Speaker and Portable Wireless Charger via USB-C - Up to 24 Hours Battery Life, IP67 Water Resistant, Apple & Android Compatible, Built-in Microphone – Matte Black (Renewed)
$103.95 (as of December 11, 2024 19:02 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Apple iPhone 16 Pro, US Version, 256GB, Black Titanium - Unlocked (Renewed)
$997.64 (as of December 11, 2024 19:02 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Bedsure Cat Beds for Indoor Cats - Washable Bolster Dog Sofa Beds for Extra Small Dogs, Supportive Foam Pet Couch Bed with…
$39.99 (as of December 11, 2024 19:08 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Sony PlayStation DualSense wireless controller – 30th Anniversary Limited Edition (Renewed Premium)
$169.99 (as of December 11, 2024 19:02 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
