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Investing.com - WD-40 Company (NASDAQ:WDFC) on Tuesday reported mixed results for its second fiscal quarter ended February 28, 2025, beating earnings estimates but falling short on revenue.
WD-40 posted adjusted earnings per share of $1.32, surpassing analyst expectations of $1.27. However, quarterly revenue of $146.1 million missed the consensus estimate of $154.41 million. Despite the revenue miss, sales increased 5% YoY, with maintenance product sales rising 6% to $139.3 million.
Gross margin improved to 54.6% from 52.4% in the same quarter last year. Operating income grew 11% to $23.3 million. The company reported a significant 92% increase in net income to $29.9 million, largely due to a one-time $11.9 million tax benefit.
"We delivered another strong quarter with net sales growth driven by robust performance in both the Americas and EIMEA regions," said Steve Brass, WD-40 Company's president and CEO. "Our core maintenance product sales grew by 6% in the second quarter, aligning with our established long-term growth objectives."
For fiscal year 2025, WD-40 expects earnings per share between $5.25 and $5.55, with the midpoint slightly above the analyst consensus of $5.42. The company projects revenue of $600-630 million, with the midpoint just below the $627.1 million consensus estimate.
The company noted that foreign currency translation negatively impacted net sales by approximately $4.9 million in the quarter. WD-40 also reported double-digit volume growth both in the second quarter and year-to-date, led by the EIMEA region.