Shares of WD-40 Company (WDFC) are rising more than 17% Tuesday morning after reporting better-than-expected third-quarter earnings.
Profit in the third quarter increased to $18.9 million or $1.38 per share from $14.5 million or $1.07 per share in the same quarter a year ago. Analysts on average had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters.
Sales for the quarter grew 15% year-on-year to $141.7 million.
Looking forward, the company has reaffirmed its full-year outlook. Sales for the year is expected in the range of $535 million-$560 million and EPS in the range of $4.80 – $5.00.
WDFC is at $226.99 currently. It has traded in the range of $145.16 – $225.80 in the last 52 weeks.
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