Household products company WD-40 (NASDAQ: WDFC) will be reporting results this Wednesday after the bell. Here’s what investors should know.
WD-40 beat analysts’ revenue expectations last quarter, reporting revenues of $195.1 million, up 24.3% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance exceeding analysts’ expectations.
Is WD-40 a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting WD-40’s revenue to grow 5.3% year on year, in line with the 4.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. WD-40 has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at WD-40’s peers in the consumer staples segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Conagra’s revenues decreased 1.4% year on year, meeting analysts’ expectations, and General Mills reported a revenue decline of 2.8%, topping estimates by 0.9%. Conagra traded down 6.6% following the results while General Mills was also down 1.7%.
Read our full analysis of Conagra’s results here and General Mills’s results here.
Investors in the consumer staples segment have had steady hands going into earnings, with share prices flat over the last month. WD-40 is up 5.1% during the same time and is heading into earnings with an average analyst price target of $271.67 (compared to the current share price of $201.24).
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