By Dean Seal
WD-40 recorded higher earnings in its fiscal second quarter as sales were boosted by volume gains overseas.
The household-products company posted a profit of $29.9 million, or $2.19 a share, for the quarter ended Feb. 28. That's up from $15.5 million, or $1.14 a share, in the same period a year earlier.
Stripping out one-time items, adjusted earnings were $1.32 a share. Analysts surveyed by FactSet had been expecting $1.27 a share.
Sales rose 5% to $146.1 million, missing analyst estimates for $154.4 million, according to FactSet.
The San Diego company said unfavorable currency translation from its foreign subsidiaries cut its top line by almost $5 million.
Core maintenance product sales were up 6% year-over-year, and the company logged double-digit percentage volume growth with strong gains in Europe, India, the Middle East and Africa.
WD-40 raised its full-year earnings outlook, saying it now expects $5.25 to $5.55 a share instead of $5.20 to $5.45 a share as previously anticipated.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 08, 2025 07:30 ET (11:30 GMT)
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