Why Automotive Services Provider Valvoline's Shares Are Gearing Up Today
Portfolio Pulse from Nabaparna Bhattacharya
Valvoline Inc. (NYSE:VVV) reported Q4 FY23 sales growth of 16% YoY to $390 million, beating the analyst consensus. The company registered an adjusted EPS of $0.39, missing the analyst consensus of $0.41. The company expects FY24 adjusted EPS of $1.40-$1.65, with net revenue of $1.6 billion-$1.7 billion. VVV shares are trading higher by 7.27% at $32.18.
November 09, 2023 | 6:03 pm
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Valvoline reported strong Q4 FY23 sales but missed on EPS. The company's FY24 outlook is positive, which has led to a rise in its stock price.
Valvoline's strong Q4 sales and positive FY24 outlook have likely contributed to the rise in its stock price. However, the company's missed EPS may cause some investor concern.
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