WD-40's stock plummeted 8% in the past 24 hours, reflecting investor disappointment following its fiscal first-quarter results. The company reported earnings per share of $1.28, missing the consensus estimate of $1.36, while revenue of $154.4 million also fell short of expectations.
The decline was driven by a 10% drop in Asia-Pacific sales, attributed to timing issues in distributor networks. Despite reaffirming its full-year guidance, the weaker-than-expected Q1 performance and regional sales challenges weighed heavily on the stock. The after-hours trading session saw an initial drop of nearly 10%, extending into the next trading day.
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