=WD-40 Co. (WDFC) reported earnings on Tue 20 Oct 20 (a/h)

 

WD-40 beats by $0.29, beats on revs 

Reports Q4 (Aug) earnings of $1.42 per share, $0.29 better than the two analyst estimate of $1.13; revenues rose 4.3% year/year to $111.6 mln vs the $98.8 mln single analyst estimate.

Gross margin was 56.3 percent in the fourth quarter compared to 54.6 percent in the prior year fiscal quarter.

"An unexpected developing trend we experienced in the fourth quarter was an increase in demand for products linked to renovation trends associated with the COVID-19 pandemic. It seems that the more time people spend isolated in their homes, the more time and money they spend making home improvements. We are calling this trend, 'isolation renovation' and in nearly all our direct markets we saw double-digit sales growth of WD-40 Multi-Use Product due to this phenomenon."