Specialty chemicals company WD-40 Company (WDFC) reported its first quarter earnings after the market closed today. The company reported earnings of $0.95 per share on sales of $101 million. Shares of WD-40 dropped about 4% during the extended trading hours.
The company met the earnings expectations of Wall Street while surpassing the sales predictions. Analysts had expected the San Diego-based cleaning products manufacturer to earn 95 cents per share on sales of $99 million.
For fiscal 2019, WD-40 expects EPS to be between $4.51 and $4.58. Sales are estimated to be in the range of $425 million to $437 million, representing a growth of 4% and 7%.
“While we saw strength in our Americas and EMEA segments, our Asia-Pacific segment reported sales declines of 10 percent year over year. Due to the geographically diverse nature of our business and depending on what is going on in a region at any given time, some of our markets may overperform while others may underperform,” said CEO Garry Ridge.
Americas benefited by the higher sales of maintenance products in the US and EMEA region’s performance was helped by strong sales of WD-40 Multi-Use Product in both the European direct and distributor markets.
WDFC stock has given a positive return of 19% in the last three months and 56% in the last 12 months. The stock was up 2.40% at $183.78 when it ended Wednesday’s regular trading session.
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