By Sam boughedda
Investing.com -- WD-40 Company (NASDAQ:WDFC) shares surged Friday after the company released its quarterly report, beating earnings and revenue expectations.
The manufacturer of household and multi-use products reported earnings per share of $1.41 on revenue of $130 million after the closing bell Thursday. Analysts polled by Investing.com expected earnings per share of $1.02 on revenue of $126.8 million.
"The resilience of the WD-40 Brand has enabled us to be off to a solid start in fiscal year 2022 with maintenance product sales up 14 percent year-to-date," said Garry Ridge, WD-40's chairman and chief executive officer.
"The enhancements we have made have enabled us to increase the production capacity of our highest volume products and return to solid growth in our largest market, the United States, which experienced a 26 percent increase in maintenance product sales in the second quarter," Ridge added.
Looking ahead, the company sees net sales growth between 7% and 12%, with net sales expected to be between $522 million and $547 million.
Meanwhile, earnings per share are expected to be between $5.14 and $5.27, down from the previously forecasted $5.24 to $5.38.