Brief: Valvoline Reports Fourth-Quarter And Fiscal Year 2022 Results

Valvoline

15/11/2022 12:05

Nov 15 (Reuters) - Valvoline Inc  VVV.N :
    * VALVOLINE REPORTS FOURTH-QUARTER AND FISCAL YEAR 2022
RESULTS
    * FY EARNINGS PER SHARE $2.35
    * FY ADJUSTED EARNINGS PER SHARE $2.12
    * WITH COMBINATION OF SAME-STORE SALES AND UNIT INCREASES,
WE
ANTICIPATE 14% TO 18% TOP LINE GROWTH IN FISCAL 2023
    * SEES FY 2023 NET REVENUES $1.4-$1.5 BILLION
    * BOARD OF DIRECTORS APPROVED A NEW SHARE REPURCHASE
AUTHORIZATION
OF $1.6 BILLION
    * SEES FY 2023 ADJUSTED NET INCOME $160 MILLION-$180 MILLION
    * NEW SHARE REPURCHASE AUTHORIZATION IS IN ADDITION TO
VALVOLINE'S
$300 MILLION SHARE REPURCHASE AUTHORIZATION ANNOUNCED IN MAY
2021
    * QTRLY ADJUSTED EPS OF $0.59
    * QTRLY DILUTED EARNINGS PER SHARE$ 0.88
    * QTRLY NET REVENUES $335.4 MILLION VERSUS $295.2 MILLION
    * Q4 EARNINGS PER SHARE VIEW $0.51 -- REFINITIV IBES DATA

Source text for Eikon:  ID:nPn4KLYTPa 
Further company coverage:  VVV.N 
 ((Reuters.Briefs@thomsonreuters.com;))