WD-40 jumps after Q3 beat

WD-40 Co

11/07/2024 12:35

** WD-40 Company  WDFC.O  shares up 11.9% premarket to
$245.82, a 3-month high, after Q3 results top expectations
    ** San-Diego-based household products maker late Weds
reported rev grew 9% yr/yr to $155 mln and EPS of $1.46 compared
to $1.38 a yr-ago
    ** Consensus between 2 analysts called for rev of $145.8 mln
and GAAP earnings of $1.27/sh, per LSEG
    ** Co reiterated FY 2024 rev outlook of $570-$600 mln and
EPS between $5.00-$5.30
    ** Jefferies, which rates WFDC "hold", says with co's costs
in check, improved productivity and mix will support margin
expansion
    ** Jefferies cuts PT to $250 from $255, saying to account
for higher tax rate
    ** D.A. Davidson ("buy" rated) reduced PT to $303 from $313,
saying it trimmed FY25E EPS to be conservative ahead of guidance
issuance
    ** Through Weds close, WDFC shares down 8% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))