WD-40 Company (NASDAQ:WDFC) communicated its third quarter earnings results on Thursday 9th July 2020 after market close.
The developer homecare and cleaning products, reported $ 1.06 income per share for the quarter, missed the consensus estimate of $ 1.07 income per share by $ 0.01 or 0.93 percent.
The quarterly earnings contracted 18.46 percent compared with the same quarter last year.
The firm had revenue of $ 98.25 million for the quarter, compared to the consensus estimate of $ 108.10 million. The revenues fell short of analysts estimates by $ 9.85 million or 9.11 percent.
The financial report showed revenues shrunk 13.81 percent versus third quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Garry Ridge, WD-40 chairman and chief executive officer, said, Our total sales in the third quarter declined by 14 percent due to disruptions related to the COVID-19 pandemic. As a global business that operates in 176 countries around the world, each of our locations has been impacted by COVID-19 in different ways but our tribe members everywhere adapted quickly to the unprecedented situation which enabled us to hold our own this quarter even while confronted with extremely challenging circumstances.
