Stock Alert: Valvoline Trading Higher On Increased Earnings, Outlook

(RTTNews) - Shares of Valvoline Inc. (VVV) are climbing 5.33% on Tuesday on the back of better-than-expected first-quarter earnings. The company also raised its full-year earnings outlook.

Valvoline, yesterday after the bell, reported first-quarter net income of $73 million or $0.39 per share compared with $53 million or $0.28 per share in the same quarter last year. Adjusted EPS was $0.35, up 30% from $0.27 in the comparable quarter last year.

Sales in the quarter rose to $607 million from $557 million in the same quarter a year ago, driven by increased system-wide same-store sales (SSS) and the addition of 106 net new stores, compared to the prior year.

For full-year 2020 Valvoline has raised its earnings expectation to the range of $1.40-$1.51 from the earlier outlook of $1.37-$1.48. Analysts foresee earnings of $1.43. The company sees revenue growth of 4% -6% for the full-year. This compares with 4.90% estimated by the Street.

VVV is currently trading at $22.52, reaching to its 52-week high of 23.90.