After the closing bell on Wednesday, WD-40 Co. (WDFC
) released its third quarter earnings, posting slightly higher revenues and net income than last year’s Q3.
WDFC’s Earnings in Brief
WD-40 reported third quarter revenues of $95.65 million, up from last year’s Q3 revenues of $93.1 million. Net income for the quarter came in at $10.4 million, or 69 cents per share, up slightly from last year’s Q3 figures of $10.27 million, or 66 cents per share. WD-40 missed analysts’ estimates of 72 cents EPS on revenues of $99.16 million. Looking ahead, WDFC sees FY2014 EPS in the range of $2.70-$2.83 on revenues between $380 million and $387 million, while analysts are expecting EPS of $2.75 on revenues of $387.44 million.CEO Commentary
WD-40′s president and CEO Garry Ridge released the following comments in the earnings release: “We are pleased with the solid progress we have made for the year and remain confident that our strategic initiatives are well positioned to carry us into the future. While we continue to see fluctuations in certain markets quarter to quarter, our long-term growth plans remain stable and we continue to deliver on our expectations.”
WDFC’s Dividend
WD-40 declared its last quarterly dividend of 34 cents on June 24. The dividend is payable on July 31, and the stock goes ex-dividend today, July 9.
Stock Performance
WDFC stock ended the trading day up 45 cents, or 0.59%, but the stock was headed slightly lower in after hours trading. YTD, the company’s stock is up 2.24%.
WDFC Dividend SnapshotAs of Market Close on July 9, 2014
Click here to see the complete history of WDFC dividends.
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