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WD-40 (NASDAQGS:WDFC)
Quarter 1 fiscal year 2024 revenue exceeds expectations, up 12.4% to $140.4 million, with a GAAP profit of $1.28 per share. Full-year revenue guidance of $585 million is 1.8% ahead of analyst estimates. WD-40’s Free Cash Flow was $26.13 million, a 35.6% decrease from the previous quarter. The company’s Gross Margin (GAAP) increased to 53.8% from 51.4% last year. Their share price is currently at $250.

Household Products Sales Growth

WD-40’s annualized revenue growth rate of 8.4% over the last three years surpasses larger competitors. This quarter’s revenue of $140.4 million exceeded Wall Street’s estimates by 4.5%, with projected 5% sales growth for the next 12 months.

“We have started fiscal year 2024 firing on all cylinders, with significant volume-related sales growth across all three trade blocs,” said WD-40 Company’s president and chief executive officer, Steve Brass.

WD-40 is known for its iconic multi-use product.
Market Capitalization: $3.22 billion
Guidance reiterated for fiscal year 2024
Household Products
Steady investments; focus on product quality, innovation, and cost efficiency
Growing emphasis on eco-friendly and sustainable offerings
Useful products for a comfortable and functional living space
Sales Growth
Decent annualized revenue growth rate of 8.4% over the last three years
Robust year-on-year revenue growth of 12.4%, exceeding Wall Street’s estimates by 4.5%
Economic and consumer shifts after the pandemic benefiting some companies.



Read more: WD-40 (NASDAQ:WDFC) Delivers Impressive Q1, Stock Soars