Valvoline (NYSE:VVV) earnings for the motor oil company’s fiscal first quarter of 2020 is out after-hours Monday. This comes after reporting adjusted earnings per share of 35 cents. That’s better than Wall Street’s estimate of 30 cents per share. Revenue of $607 million also beats out analysts’ estimates of $581.91 million.
Here are some additional highlights from the most recent Valvoline earnings report.
- Adjusted EPS for the quarter is up 29.63% from the 27 cents during the same period of the year prior.
- Revenue comes in 8.98% above the $557 million reported in the fiscal first quarter of 2019.
- Operating income of $104 million is a 19.54% increase YoY from $87 million.
- The Valvoline earnings report also includes a net income of $73 million.
- This is a 37.74% boost over the company’s net income of $53 million from the same time last year.
Sam Mitchell, Cheif Executive Officer of Valvoline, has this to say about the fiscal Q1 VVV stock earnings report.
“We are pleased with our start to fiscal 2020. “Core North America had a strong quarter, driven by substantially higher branded volume in the retail channel and benefits from the operating expense reduction program announced last year.”
The Valvoline earnings report also includes an update to its fiscal 2020 outlook. It now expects adjusted per-share earnings for the year to range from $1.40 to $1.51. That’s not bad next to Wall Street’s estimate of $1.43 for the quarter.
VVV stock was up 1.42% when markets closed on Monday
As of this writing, William White did not hold a position in any of the aforementioned securities.