Worth Watching Stock for Traders: WD-40 Company (NASDAQ: WDFC)
WD-40 Company stock identified change of 25.07% away from 52-week low price and recently located move of -10.69% off 52-week high price. It has market worth of $2552.18M and dividend yield of 1.42%. WDFC stock has been recorded 6.04% away from 50 day moving average and 2.02% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.03% off 20-day moving average.
WD-40 Company (WDFC) recently stated financial results for its third fiscal quarter ended May 31, 2020.
Third Fiscal Quarter Financial Highlights
Total net sales for the third quarter were $98.2M, a decrease of 14 percent contrast to the previous year fiscal quarter. Year-to-date total net sales were $296.9M, a decrease of 6 percent contrast to the previous year fiscal period.
Translation of the Company’s foreign subsidiary results to U.S. dollars had an unfavorable impact on sales for the current quarter and year-to-date. On a constant currency basis, total net sales would have been $100.5M for the third quarter and $301.1M year to date.
Net income for the third quarter was $14.5M, a decrease of 20 percent contrast to the previous year fiscal quarter. Year-to-date net income was $41.0M, a decrease of 13 percent from the previous year fiscal period.
Diluted earnings per share were $1.06 in the third quarter, contrast to $1.30 per share for the previous year fiscal quarter. Year-to-date diluted earnings per share were $2.98 contrast to $3.39 in the previous year fiscal period.
Gross margin was 54.0 percent in the third quarter contrast to 54.5 percent in the previous year fiscal quarter. Year-to-date gross margin was 54.0 percent contrast to 55.0 percent in the previous year fiscal period.
Selling, general and administrative expenses were down 13 percent in the third quarter to $27.9M when contrast to the previous year fiscal quarter. Year-to-date selling, general and administrative expenses were down 5 percent to $90.4M contrast to the previous year fiscal period.
Advertising and sales promotion expenses were down 24 percent in the third quarter to $4.8M when contrast to the previous year fiscal quarter. Year-to-date advertising and sales promotion expenses were down 13 percent to $15.2M contrast to the previous year fiscal period.
“I have often stated that physical awareness and mental awareness of our product – or stated simply, making our end-users aware of our products and making them easy to buy – is core to our continued success. COVID-19 has reinforced this lesson for me. In geographies and trade channels where our products remained easy to buy, like in e-commerce and in certain countries that were not subject to movement restrictions, we performed very well in the third quarter. However, in markets with strict movement restrictions in place or less developed e-commerce adoption, our sales were more severely influenced.”
Basic Materials sector company, WD-40 Company noticed change of -0.44% to $189.05 along volume of 79720 shares in recent session compared to an average volume of 185.86K. WDFC’s shares are at 7.84% for the quarter and driving a 17.04% return over the course of the past year and is now at -2.62% since this point in 2018.
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