Valvoline: Fiscal 3Q Earnings Snapshot
LEXINGTON, Ky. (AP) _ Valvoline Inc. (VVV) on Wednesday reported fiscal third-quarter earnings of $64 million.
The Lexington, Kentucky-based company said it had net income of 33 cents per share. Earnings, adjusted for non-recurring gains, came to 32 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The automotive and industrial lubricants maker posted revenue of $577 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $589.8 million.
Valvoline expects full-year earnings in the range of $1.26 to $1.31 per share.
Valvoline shares have fallen 10 percent since the beginning of the year. The stock has dropped slightly more than 1 percent in the last 12 months.