====WD-40 Company (WDFC) reported earnings on Tue 10 July 2018 (a/h)

WD-40 beats by $0.10, beats on revs; guides FY18 EPS in-line, revs in-line

• Reports Q3 (May) earnings of $1.15 per share, $0.10 better thanthe two analyst estimate of $1.05; revenues rose 9.0% year/year to $107 mln vs the $103.33 mln single analyst estimate.
• Gross margin was 54.8% in the third quarter compared to 55.3% in the prior year fiscal quarter.
• Co issues in-line guidancefor FY18, sees EPS of $4.05-$4.10 vs. $4.09 two analyst estimate; sees FY18 revs of $403-$411 mln vs. $408.06 mln two analyst estimate.
• Commentary: "Our maintenance products delivered solid sales increases in the third quarter including 10% growth of WD-40 Multi-Use Product and 16% growth of WD-40 Specialist. Though fluctuating foreign currency exchange rates favorably impacted our sales results in the current quarter, we still saw a currency adjusted sales growth rate of 5% period-over-period. Unfortunately we are continuing to see the impact of higher commodity prices which have begun to deteriorate our gross margins in all three of our operating segments. To combat this margin pressure we have made some price increases to ensure our gross margin remains in-line with our 55/30/25 business model..."