WD-40 Slips as Profit, Sales Miss Estimates

© Reuters.

By Christiana Sciaudone

Investing.com — WD-40 slid 15% after missing quarterly sales and profit estimates. 

Revenue of $111.9 million was less than the expected $114 million, and earnings per share of $1.24 fell below the estimated $1.32 for the quarter ended in February, according to data compiled by Investing.com.

The disappointment follows two blow-out quarters, with the company reporting both sales and profit that surprised the market. Shares had close to doubled for the year through February, and have since dropped about 20%.

Earlier today, DA Davidson lowered the price target on WD-40 to $295 from $353 while maintaining a neutral rating, StreetInsider said.




Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

READ  Lululemon Athletica Earnings, Revenue miss in Q1



Please enter your comment!
Please enter your name here