LEXINGTON, Ky. (AP) — LEXINGTON, Ky. (AP) — Valvoline Inc. (VVV) on Wednesday reported fiscal third-quarter earnings of $45.9 million.
On a per-share basis, the Lexington, Kentucky-based company said it had net income of 35 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 45 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The automotive and industrial lubricants maker posted revenue of $421.4 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $422.4 million.
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