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WD-40 fiscal Q2 profit climbs 18.0% YOY

WD-40 Co. said its normalized net income for the fiscal second quarter ended Feb. 29 amounted to 82 cents per share, compared with the S&P Capital IQ consensus estimate of 86 cents per share.

EPS increased 20.3% year over year from 68 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $11.9 million, a gain of 18.0% from $10.1 million in the prior-year period.

The normalized profit margin increased to 12.6% from 10.3% in the year-earlier period.

Total revenue decreased on an annual basis to $94.5 million from $97.3 million, and total operating expenses fell year over year to $76.6 million from $79.7 million.

Reported net income grew 21.4% on an annual basis to $13.6 million, or 94 cents per share, from $11.2 million, or 76 cents per share.