Valvoline: Fiscal 4Q Earnings Snapshot
LEXINGTON, Ky. (AP) _ Valvoline Inc. (VVV) on Wednesday reported fiscal fourth-quarter profit of $27 million.
The Lexington, Kentucky-based company said it had net income of 14 cents per share. Earnings, adjusted for one-time gains and costs, were 40 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The automotive and industrial lubricants maker posted revenue of $629 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $629.4 million.
For the year, the company reported profit of $208 million, or $1.10 per share. Revenue was reported as $2.39 billion.
Valvoline expects full-year earnings in the range of $1.37 to $1.48 per share.
Valvoline shares have risen 15% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.16, an increase of 16% in the last 12 months.