WD-40 drops on downbeat 2022 forecast

WD-40 Co

07/07/2022 22:50

** Shares of home cleaning products maker WD-40 Co  WDFC.O 
plunge 9% to $186 after market
    ** Co sees 2022 EPS between $5.02 and $5.10, below Refinitiv
IBES estimate of $5.18  urn:newsml:reuters.com:*:nPn6PXSRCa
    ** Expects net sales between $519 mln and $532 mln, also
short of estimates of $537.51 mln 
    ** "We are operating in a challenging macroeconomic
environment which has continued to deteriorate our gross
margin," CEO Garry Ridge says
    ** Co reports Q3 EPS of $1.07 vs $1.52 a year earlier
    ** As of Thursday's close, shares have dropped over 17% YTD

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))