WD-40 Co (WDFC) released its second quarter results on Thursday, April 8, 2021. The company reported net earnings of $1.25 per share for the second quarter ending February 28, 2021. Earnings for this past quarter were up 20 percent compared to the same period a year ago.
WD-40 Company was founded in 1953 and is headquartered in San Diego, California. WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses and industrial applications; and specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand, as well as various products under the WD-40 Bike brand name.
WD-40's revenue increased 6 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 56.66% for the second quarter compared to the same period in the previous year, and operating margins increased to 18.46% over the same period. Net earnings for past trailing twelve months were $74.67 million, up 41% from the prior year.
Moving on to the balance sheet, WD-40’s cash levels jumped 137% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 86.07% this past year. The current ratio for WD-40 now stands at 3.09. The company increased share outstanding by 0.01%.
Shares of WDFC are currently trading around $309.52. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 56.82 and price to book ratio of 22.65.