WD-40 misses 1Q profit forecasts
WD-40 posts 1Q profit of $11.8 million, result misses forecasts
SAN DIEGO (AP) _ WD-40 Co. (WDFC) on Monday reported fiscal first-quarter profit of $11.8 million.
The San Diego-based company said it had profit of 82 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The maintenance and cleaning product company posted revenue of $89.2 million in the period.
WD-40 expects full-year earnings to be $3.64 to $3.71 per share, with revenue in the range of $395 million to $404 million.
WD-40 shares have increased roughly 1 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $117.65, an increase of 24 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WDFC at https://www.zacks.com/ap/WDFC
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Keywords: WD-40, Earnings Report
