WD-40 Company Misses Q1 Estimates; Stock Falls (WDFC)

WD-40 Company Misses Q1 Estimates; Stock Falls (WDFC)


After the closing bell on Wednesday, WD-40 Co. (WDFC) reported its first quarter results, posting slightly higher revenue and slightly lower earnings than last year’s Q1.

WDFC’s Earnings in Brief

  • WD-40 reported first quarter revenues of $96.35 million, which are up slightly over last year’s Q1 revenues of $95.54 million.
  • Net income for the quarter came in at $10.79 million, or 73 cents per diluted share, down from last year’s Q1 figures of $11.48 million, or 74 cents per diluted share.
  • The company’s results missed analysts’ expectations of 80 cents EPS on revenues of $99.52 million.
  • Looking ahead, WDFC sees FY2015 EPS in the range of $3.07-$3.18, which is in-line with analysts’ estimates of $3.11.

CEO Commentary

WD-40 president and CEO Garry Ridge had the following comments: “During the quarter we experienced slow but steady growth of our multi-purpose maintenance products. We did experience a decline in sales in our European markets and we’ve linked that decline to the unfavorable impact of foreign currency exchange rates, particularly the euro and U.S. dollar relative to the pound sterling, as well as the timing of customer orders within that region.  Overall we are off to a good start in 2015 and we see a solid, steady year ahead as we continue to put our efforts behind our key strategic initiatives.”

WDFC’s Dividend

WD-40 will pay its next quarterly dividend of 38 cents on January 30. The stock went ex-dividend on December 31.

Stock Performance

WDFC stock was down $3.68, or 4.31%, in after hours trading.

WDFC Dividend Snapshot

As of Market Close on January 7, 2015

BK dividend yield annual payout payout ratio dividend growth

Click here to see the complete history of WDFC dividends.

The Bottom Line

WD-40 Co. (WDFC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.