NEW YORK - Valvoline Inc . (NYSE:VVV) reported fourth quarter earnings that topped analyst expectations and provided an upbeat outlook for fiscal 2025, sending shares up 1.1% in premarket trading on Tuesday.
The automotive maintenance company posted adjusted earnings per share of $0.46 for the quarter ended September 30, beating the consensus estimate of $0.42. Revenue rose 12% year-over-year to $435.5 million, also surpassing analysts' projections of $432.63 million.
For the full fiscal year 2024, Valvoline reported sales of $1.62 billion, up 12% from the previous year. System-wide same-store sales grew 6.7%.
Looking ahead, the company forecast fiscal 2025 earnings per share between $1.57 and $1.67, above Wall Street's expectation of $1.53. Valvoline also projected revenue of $1.67 billion to $1.73 billion for the year, exceeding the $1.62 billion analysts were anticipating.
"Fiscal 2024 was another year of compelling top and bottom-line growth with net sales increasing 12% and adjusted EBITDA growing 17%, while delivering our 18th consecutive year of system-wide same store sales growth," said CEO Lori Flees.
The company added 158 net new stores to its network in fiscal 2024, bringing the total to 2,010 locations. Valvoline aims to open 160 to 185 new stores in fiscal 2025.
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