WD-40 to Investors: We're Still Targeting Faster Growth
Investors had modest expectations for sales and profit gains from WD-40 (NASDAQ: WDFC) as the chemical products specialist closed out its fiscal year this past week. A growth rebound in the prior quarter supported a stock price rally in July, but shares had still sat out the market rally this year and were in slightly negative territory by mid-October.
WD-40's fiscal fourth-quarter results didn't do much to change that picture of a minor slump, but positive overall progress toward management's long-term goals. CEO Garry Ridge and his executive team held a conference call with Wall Street analysts immediately following the report's release to put the latest trends into perspective while adding context to the company's fiscal 2020 forecast. Below are a few highlights from that presentation.
Image source: Getty Images.
Source Fool.com
