Earnings To Watch: WD-40 (WDFC) Reports Q2 Results Tomorrow

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Household products company WD-40 (NASDAQ: WDFC) will be reporting results this Thursday afternoon. Here’s what investors should know.

WD-40 beat analysts’ revenue expectations last quarter, reporting revenues of $161.7 million, up 10.7% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates.

Is WD-40 a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting WD-40’s revenue to grow 10.3% year on year, improving from the 1.2% increase it recorded in the same quarter last year.

WD-40 Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. WD-40 has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at WD-40’s peers in the consumer staples segment, some have already reported their Q2 results, giving us a hint as to what we can expect. General Mills delivered year-on-year revenue growth of 1.2%, beating analysts’ expectations by 0.7%, and McCormick reported revenues up 16.7%, topping estimates by 1.2%.

Read our full analysis of General Mills’s results here and McCormick’s results here.

There has been positive sentiment among investors in the consumer staples segment, with share prices up 8.9% on average over the last month. WD-40 is up 21.5% during the same time and is heading into earnings with an average analyst price target of $249.50 (compared to the current share price of $249.72).

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