WD-40 Company (NASDAQ:WDFC) shares are trading lower on Friday after the company reported worse-than-expected first quarter financial results on Thursday.
WD-40 shares are retreating from recent levels. Why are WDFC shares down?
What To Know: WD-40 reported earnings per share of $1.28, missing the consensus estimate of $1.36. In addition, the company reported revenue of $154.42 million, missing the consensus estimate of $155.08 million.
Despite the earnings miss, total net sales increased 1% year over year. Maintenance product sales rose 2%, supported by an 8% increase in direct markets, though results were partially offset by lower sales in distributor markets. Gross margin improved to 56.2% from 54.8% in the prior-year quarter.
WDFC Price Action: At the time of writing, WD-40 shares are trading 3.84% lower at $195.69, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
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