LEXINGTON, Ky. (AP) _ Valvoline Inc. (VVV) on Wednesday reported fiscal fourth-quarter net income of $122 million.
The Lexington, Kentucky-based company said it had net income of 66 cents per share. Earnings, adjusted for non-recurring gains, were 46 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The automotive and industrial lubricants maker posted revenue of $652 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $620.6 million.
For the year, the company reported profit of $317 million, or $1.69 per share. Revenue was reported as $2.35 billion.
Valvoline expects full-year earnings in the range of $1.57 to $1.67 per share.
Valvoline shares have fallen 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.67, a decline of 13% in the last 12 months.
