WD-40 Reports Worse-Than-Expected Q3 Earnings, Sales

WD-40 Co.

shares slid 4.7 percent Wednesday evening after the San Diego-based maker of cleaning products reported fiscal third-quarter profit and revenue which didn't meet analyst estimates. The company posted quarterly net income of $10.4 million, or $0.69 per share, from $10.3 million, or $0.66 per share, a year earlier. Revenue totaled $95.7 million, up from $93.1 million last year. The average estimate was for per-share profit of $0.72 and revenue of $99.16 million. WD-40 raised fiscal 2014 profit forecast from $2.65-2.80 to $2.70-$2.83 per share. The average estimate was $2.75 per share. WD-40 lowered its 2014 sales estimate from $383 million-$398 million to $380 million-$387 million. The average analyst estimate was $388.8 million. Shares of WD-40 have declined to $72.14 after closing at $76.11.