Valvoline gains on Q3 beat-and-raise report

Valvoline

09/08/2023 13:19

** Shares of motor oil and lubricant maker Valvoline Inc
 VVV.N  up 5% at $38 before the bell
    ** Co raises 2023 adj net income to $185—$200 mln from
$160-$180 mln previously
    ** Q3 adj EPS from cont ops of 43 cents tops estimates of 36
cents, while sales of $376.2 mln beats estimates of $366.58 mln
- Refinitiv data
    ** Says Sam Mitchell to retire as CEO, effective Sept. 30;
names Lori Flees, president of retail services, as replacement
    ** VVV shares up nearly 11% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))