Plus   Neg

WD-40 Company Q2 Profit Up 7%

WD-40 Company (WDFC), Tuesday reported second-quarter profit of $15.9 million or $1.14 per share, up from $14.8 million or $1.05 per share last year.

Sales for the second quarter were $101.3 million, relatively constant compared to the prior year fiscal quarter.

Looking forward to full year 2019, the company reaffirmed its guidance of sales of $425 million to $437 million and earnings of $4.51 and $4.58 per share.

"We believe we are going to end the year in-line with our previously issued guidance and are reaffirming guidance today," said Jay Rembolt, WD-40 Company's vice president and chief financial officer. "We expect our net sales may ultimately be at the lower end of the range we've shared with investors. However, gross margin has shown a slight positive trend in recent weeks. All our current indicators show that the back half of the fiscal year should be solid."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Swiss food giant Nestle SA said it is committed to achieving zero net greenhouse gas emissions by 2050, noting that climate change is one of the biggest threats faced by the world. As part of its efforts to achieve the goal, Nestle said it will launch more plant-based food and beverage options that are more environment friendly. Coffee giant Starbucks Corp. is set to open the world's largest Starbucks Reserve Roastery on November 15 on Chicago's Magnificent Mile. It will open in an interactive four-storey glass-clad building in 43,000 square feet space, employing about 200 people. The site at the corner of North Michigan Avenue and Erie Street was previously occupied by Crate & Barrel. United Parcel Service Inc. agreed to pay $8.4 million to the United States to settle allegations that it overcharged federal agencies for package delivery services, the U.S. Justice Department said. Under a General Services Administration or GSA contract, UPS was required to provide GSA with certain lower prices for its services.
Follow RTT