LEXINGTON, Ky. (AP) — LEXINGTON, Ky. (AP) — Valvoline Inc. (VVV) on Wednesday reported fiscal third-quarter earnings of $64.5 million.
The Lexington, Kentucky-based company said it had profit of 51 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 57 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The automotive and industrial lubricants maker posted revenue of $544.6 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $536.6 million.
Valvoline expects full-year earnings in the range of $1.70 to $1.75 per share, with revenue in the range of $2.05 billion to $2.1 billion.
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