WD-40 Jumps on Q3 Results; Raises Outlook

released its third-quarter earnings results after the closing bell on Monday. The company reported both earnings and revenue that topped analysts' consensus expectations. In late trade, the stock was last up more than 9 percent to $63.00.

"We are pleased with our performance across the globe this past fiscal year, and have confidence in our ability to continue to leverage the WD-40 shield and to create solid growth in our core product lines," said Garry Ridge, WD-40 Company president and chief executive officer. "As we continue to celebrate our 60th anniversary as a company, we are thinking big about our future as we strive to maintain growth in our multi-purpose maintenance products lines and implement our strategic initiatives."

The company reported net income of $10.27 million or $0.66 per share, compared to $9.14 million or $0.57 per share, in last year's corresponding period. This easily beat analysts' consensus EPS estimates of $0.56. Revenue in the quarter was $93.10 million from $87.02 million last year. This compared to analysts' consensus revenue estimates of $89.45 million.

WD-40 raised its full-year earnings guidance to a range of $2.40 to $2.48 per share from its previous range of $2.32 to $2.42 per share. WD-40 continues to project revenue of $356.0 million to $370.0 million for the full-year. Currently, analysts have consensus EPS estimates of $2.39 on revenue of $359.14 million for the fiscal year.