WD-40 stock rallies as results top Street view

WD-40 Co. (WDFC) shares rose in the extended session Monday after the company's results topped Wall Street expectations. WD-40 shares rose as much as 5% after hours, following a 2.1% gain to close the regular session at $193.80. The company reported third-quarter net income of $18.9 million, or $1.38 a share, compared with $14.5 million, or $1.07 a share, in the year-go period. Sales for the third quarter rose to $141.7 million from $123.7 million in the year-ago period. Analysts surveyed by FactSet had forecast earnings of $1.22 a share on revenue of $138.4 million. WD-40 reiterated its outlook for the year of earnings between $4.80 and $5 a share on revenue of $535 million to $560 million. Analysts expect $4.95 a share on revenue of $536.4 million. The company also said its board approved $50 million in share buybacks.

-Wallace Witkowski

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07-10-23 1632ET

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