WD-40 Greases Wall Street’s Expectations With Blowout Q2 Beat
The post WD-40 Greases Wall Street’s Expectations With Blowout Q2 Beat appeared on BitcoinEthereumNews.com. WD-40 Company shares traded as much as 14.5% higher in Thursday overnight trading via Blue Ocean ATS. The household lubricant maker beat Wall Street’s revenue and profit estimates by wide margins. WD-40 also raised its full year guidance. The company pointed to stronger than expected demand for its core spray lubricant business. Revenue and Profit Both Clear Estimates WD-40 reported $195.1 million in sales, a 24.3% jump from a year ago. That easily beat the $173 million Wall Street expected. Profit per share also beat expectations. WD-40 earned $2.24 for every share, well above the $1.57 analysts had penciled in. Despite being down on the day, WD-40 will start trading on Friday, July 10, as much as 14% higher. Image Source: Trading View Two other numbers show how efficiently WD-40 turned sales into profit. Operating margin, the share of revenue left after covering core costs, ros