WDFC - WD-40 GAAP EPS of $1.21 beats by $0.20 revenue of $130.19M beats by $4.39M

2023-04-06 16:08:08 ET

• WD-40 press release ( NASDAQ: WDFC ): Q2 GAAP EPS of $1.21 beats by $0.20 .
• Revenue of $130.19M (+0.2% Y/Y) beats by $4.39M .
• Gross margin percentage was 50.8 percent in the second quarter, compared to 50.4 percent in the prior year fiscal quarter. Year-to-date gross margin was 51.1 percent compared to 50.6 percent in the prior year fiscal period.
• 2023 Guidance: Net sales growth is projected to be between 3.5 and 7.5 percent with net sales expected to be between $535 million and $560 million.
• Gross margin percentage for the full year is expected to be between 51 and 52 percent.
• Advertising and promotion investments are projected to be between 5.0 and 5.5 percent of net sales.
• The provision for income tax is expected to be around 21 percent.
• Net income is projected to be between $64.5 million and $68.5 million.
• Diluted earnings per share is expected to be between $4.80 and $5.00 based on an estimated 13.6 million weighted average shares outstanding.

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