Valvoline Inc. (VVV) shares are soaring 5.78% in pre-market trading on Wednesday following the release of its strong third-quarter financial results. The company, known for its automotive maintenance services, reported earnings that surpassed analysts' expectations and raised its full-year guidance.

Valvoline announced adjusted earnings per share of $0.47 for the third quarter, beating the consensus estimate of $0.45. This represents a 4.44% increase from the same period last year. The company's revenue also impressed, coming in at $439 million, surpassing the analyst forecast of $436.4 million. Notably, adjusted EBITDA reached $130 million, significantly higher than the estimated $123.3 million.

In light of these strong results, Valvoline has raised its fiscal 2025 outlook. The company now expects full-year adjusted earnings per share to be between $1.59 and $1.64, up from the previous range of $1.57 to $1.67. Additionally, Valvoline narrowed its annual net revenues guidance to $1.69 billion to $1.72 billion. The company also announced the completion of refranchising efforts, selling 67 stores to franchise operations, which is expected to contribute to future growth. These positive developments have clearly resonated with investors, driving the stock's pre-market surge.