WD-40 Stock Is Ready To Coil Like A Piston
Iconic lubricant maker WD-40 (NASDAQ:WDFC) stock has plummeted by more than (-40%) off its all-time highs, but it looks ready to finally coil. Inflation pressures and supply chain disruption have continued to deteriorate gross margins leading to a (-2%) drop in estimated net income for the year. However, the Company saw 14% growth kicking off 2022. Maintenance product sales have been the driver in its second-quarter up 26% with a commitment to restore gross margins of 55% long-term. However, inflationary pressures were evident as its margins fell to 50% for its costs of goods sold. The Company...