Household chemicals manufacturer WD-40 Company (WDFC) reported positive top and bottom line results for its second quarter 2018, with profit spiking double digits and sales increasing by single digit. The results were positively impacted by growth from the company’s EMEA and Asia-Pacific segments. Profit increased 19.4% to $14.8 million or $1.05 per share, while sales increased 4.8% year-over-year to $101.2 million.
On a segment basis, as a percent of revenue, Americas was 44%, EMEA 39%, Asia-Pacific 17%. Americas sales were relatively flat due to the declining sales of homecare and cleaning products in the U.S. However, EMEA and Asia-Pacific reported 9% growth, helped by higher sales of maintenance products in the EMEA direct markets and Asia-Pacific segment seeing double digit sales increases in China and Australia.
Outlook
WD-40 Company revised its guidance for fiscal 2018, and now sees net sales growth of between 7% and 9% translating to sales of $407 million and $415 million versus the previous sales outlook of $396 million to $403 million. EPS is now targeted to be between $4.07 and $4.14 compared to the prior estimate of $3.91 to $3.98.
Most Popular
Stock Watch: Is Darden Restaurants a good buy after earnings?
After a prolonged slowdown, the restaurant industry is returning to normal patterns but macroeconomic uncertainties and high inflation are currently playing spoilsport for it. While the pandemic-related slump forced many
Lennar (LEN) believes that despite near-term challenges, the long-term prospects for housing remain strong
Shares of Lennar Corporation (NYSE: LEN) were down 3% on Monday. The stock has dropped 36% year-to-date and 25% over the past 12 months. The homebuilder delivered mixed results for
KB Home (KBH): What did and did not work for the homebuilder in the third quarter
Shares of KB Home (NYSE: KBH) were up slightly on Friday. The stock has dropped 40% year-to-date and 35% over the past 12 months. The company delivered mixed results for
