WD-40 Co. (NASDAQ: WDFC) reported Q1 EPS of $0.90, $0.07 better than the analyst estimate of $0.83. Revenue for the quarter came in at $97.6 million versus the consensus estimate of $93 million.

"The tribe has delivered solid first quarter results, reflecting excellent execution of our first and second strategic initiatives and the fact that for the first time in a long-time, foreign currency exchange rates are not diluting our reported net sales results," said Garry Ridge, WD-40 Company's president and chief executive officer.

"Our flagship product, WD-40 Multi-Use Product grew 10 percent in the first quarter, and our WD-40 Specialist product line grew 29 percent compared to the prior year quarter.

"Overall we are off to a good start in 2018 and we believe our focus on executing against our strategic initiatives will continue to drive revenue growth, further strengthen our financial foundation, and enhance shareholder value," Ridge concluded.

GUIDANCE:

WD-40 Co. sees FY2018 revenue of $396-403 million.

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