Stocks to Watch: WD-40, Calumet, Rexford Industrial Realty

Dow Jones
01-11

By Connor Hart

WD-40's revenue and profit rose in its fiscal first quarter, boosted by sales growth across multiple regions. The household-products company reported per-share earnings of $1.39 for its three months ended Nov. 30, ahead of the $1.29 that two analysts polled by FactSet were expecting. Revenue jumped to $153.5 million from $140.4 million, fueled by an 8% year-over-year increase in the Americas region and an 18% gain across Europe, India, Middle East and Africa. It backed its 2025 outlook. Shares gain 6.3%, to $256, in post-market trading.

Calumet closed a $1.44 billion loan facility from the Energy Department. The maker of specialty branded products in various consumer and industrial markets said that the loan would fund the construction and expansion of a renewable-fuels facility owned by Calumet-subsidiary Montana Renewables. This expansion should position Montana Renewables as one of the largest global producers of sustainable aviation fuel, an alternative fuel made from non-petroleum feedstocks, it said. Shares rise 8.1%, to $23.51, in after-hours trading.

Rexford Industrial Realty said wildfires raging in Southern California haven't damaged its properties. The Los Angeles-based real estate investment trust said it doesn't anticipate unfavorable impacts to its operating results or financial condition as a result of the wildfires. "We are prioritizing the care of our employees, their family members and the larger community and are fortunate all members of the Rexford family are safe," Co-CEOs Michael Frankel and Howard Schwimmer said. Shares gain 1%, to $37.55, in post-market trading.

Write to Connor Hart at connor.hart@wsj.com

 

(END) Dow Jones Newswires

January 10, 2025 18:34 ET (23:34 GMT)

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