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WD-40 Q3 Profit Surges 45%; Shares Up 8%

Shares of WD-40 Co. (WDFC) are gaining over 8% in extended trading session on Wednesday after its third-quarter profit surged from last year, driven by 39% growth in revenues.

Third-quarter profit rose to $21.01 million or $1.52 per share, up from $14.52 million or $1.06 per share last year.

Net sales for the third quarter increased 39% to $136.4 million from $98.2 million last year.

Analysts polled by Thomson Reuters expected earnings of $1.15 per share on revenues of $108.33 million. Analysts' estimates typically exclude special items.

Looking forward, the company now expects sales of $475 million to $490 million for the full fiscal year.

WDFC closed Wednesday's trading at $260.54, up $5.05 or 1.98%, on the Nasdaq. The stock further gained $22.66 or 8.70%, in the after-hours trade.

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