=Valvoline (VVV) reported earnings on Thur 26 Jan 2017 (a/h)

Valvoline beats by $0.05, beats on revs; raises FY17 EPS above consensus, revs in-line:

• Reports Q1 (Dec) earnings of $0.35 per share, $0.05 better than the Capital IQ Consensus of $0.30; revenues rose 7.2% year/year to $489 mln vs the $474.14 mln Capital IQ Consensus.
• Co issues guidance for FY17, raises EPS to $1.36-1.43 from $1.31-1.41 vs. $1.30 Capital IQ Consensus Estimate; raises FY17 revs of +3-5% from +2-3% from ~$1.987-2.025 billion vs. $2 bln Capital IQ Consensus Estimate.
• "Our strong performance in the first quarter and our ability to manage margins give us confidence that we will deliver full-year results above our prior expectations, and as a result we are raising our full-year EPS guidance...The business has good momentum and we are well positioned for driving faster growth."