What To Expect From WD-40’s (WDFC) Q1 Earnings
Stock Story
Published Apr 08, 2024 03:00AM ET
Updated Apr 08, 2024 07:30AM ET
What To Expect From WD-40’s (WDFC) Q1 Earnings
Household products company WD-40 (NASDAQGS:WDFC) will be announcing earnings results tomorrow after the bell. Here's what to look for.
Last quarter WD-40 reported revenues of $140.4 million, up 12.4% year on year, beating analyst revenue expectations by 4.5%. It was an impressive quarter for the company, with a solid beat of analysts' revenue estimates.
Is WD-40 buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting WD-40's revenue to grow 7.9% year on year to $140.5 million, improving on the 0.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.13 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
Looking at WD-40's peers in the consumer staples segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. General Mills (NYSE:GIS)'s revenues decreased 0.5% year on year, beating analyst estimates by 2.7% and Conagra reported revenue decline of 1.7% year on year, exceeding estimates by 0.1%. General Mills traded up 2.9% on the results, and Conagra was up 6.6%.
Read the full analysis of General Mills's and Conagra's results on StockStory.
Technology stocks have been hit hard on fears of higher interest rates and while some of the consumer staples stocks have fared somewhat better, they have not been spared, with share price declining 2.4% over the last month. WD-40 is up 1% during the same time, and is heading into the earnings with analyst price target of $281.5, compared to share price of $253.
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Written By: Stock Story
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