WD-40 Company (NASDAQ: WDFC) doesn’t need a quick fix for its stock price; it's doing just fine. The company, with a range of products for every problem, has seen a notable uptick in its shares over the past few years, and they hit their all-time high at $86 in late December. WD-40 is scheduled to announce its fiscal first-quarter earnings after the market close on Wednesday.
The company's annual report, which came out in October, showed significant signs of success and even a bit of foreshadowing, including net sales that increased by $14.5 million from the previous fiscal year. Net income increased 10 percent and diluted earnings per share increased by 13 percent. In the beginning of December, WD-40 increased its quarterly dividend by $0.38 per share. Executives are expecting a good year for 2015 and reportedly said they had set the table for a strong one, too.
For 60 years, the company has prided itself on its products, which are sold across the globe and include the namesake multipurpose spray for homes and offices -- its list of uses is ongoing, but people say it can be used to make things stop moving, start moving and cease squeaks; it also removes Crayola crayon marks. WD-40 Compnay also makes and sells a mildew stain remover, toilet bowl cleaners, deodorizers, cleaners for rugs and carpets, and hand cleaners.
People may remember WD-40 from decades ago as the go-to solution, but the company seems persistent in staying ahead of the times. Recently, it partnered up with PowerNation, NBC Sports Network and SpikeTV’s two-hour block of automotive shows to build a car known as the “WD-40 Specialist Xtreme Machine.” It is a 1990 custom Jeep Wrangler YJ and will be given away as a prize in a 2015 sweepstakes -- its body resembles the heavy-duty characteristics that embody WD-40 and its products.