LEXINGTON, Ky. (AP) _ Valvoline Inc. (VVV) on Wednesday reported fiscal third-quarter net income of $65 million.
On a per-share basis, the Lexington, Kentucky-based company said it had net income of 34 cents. Earnings, adjusted for restructuring costs and non-recurring costs, came to 37 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The automotive and industrial lubricants maker posted revenue of $613 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $611.4 million.
Valvoline expects full-year earnings in the range of $1.30 to $1.33 per share.
Valvoline shares have risen slightly more than 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.18, a decrease of 11% in the last 12 months.