Valvoline

Valvoline, Inc. engages in the production, marketing, and supply of engine and automotive maintenance products and services. It operates through the Retail Services segment. The Retail Services segment services the passenger car and light truck quick lube market in the US and Canada with preventive maintenance services done through company operated and independent franchise care stores. The company was founded by John Ellis in 1866 and is headquartered in Lexington, KY.

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Valvoline reports strong Q1 growth and strategic initiatives for 2023

Valvoline's Q1 performance showcased strong top-line growth and a commitment to enhancing shareholder value through strategic initiatives.
While facing challenges like seasonality and margin factors, the company remains confident in its long-term goals and growth strategies.
Opportunities for accelerated unit growth, deal closure, and exciting prospects ahead position Valvoline for a promising future.

Valvoline posts strong Q2 results, eyes growth amid operational changes

Valvoline's Q2 performance reflects robust growth and operational improvements, supported by the sale of the Global Products business.
The company's focus on new store openings and returning proceeds to shareholders positions it for sustained growth.
Challenges lie in maintaining growth momentum, executing strategic initiatives, and managing operational transitions effectively.
Valvoline's strong financial position and market presence offer opportunities for strategic investments and enhanced shareholder value.

Valvoline reports robust Q3 earnings amidst franchise challenges and transitions

Valvoline's Q3 2023 earnings call highlighted strong financial performance, leadership transitions, and challenges faced by franchisees. Despite market hurdles, the company remains focused on profitability, growth, and supporting its network for long-term success. Strategic initiatives and a resilient outlook position Valvoline for continued growth and market resilience.

Valvoline reports robust Q4 earnings, eyes service expansion opportunities

Valvoline's Q4 2023 Earnings Call showcased strong financial performance, a successful transformation into a pure play retail business, and a strategic focus on long-term value creation.
The company's Retail Services platform demonstrated impressive growth, while efforts to optimize marketing spend and enhance non-oil change services highlight operational excellence.
Challenges in managing expenses and interest rates exist, but Valvoline has opportunities to expand services, increase fleet business penetration, and optimize marketing efforts.

Valvoline reports robust Q1 performance, eyes growth through premiumization

Valvoline's Q1 2024 performance reflects strong sales growth, improved profitability, and strategic focus on shareholder value. The company faces challenges in managing day mix pressure and balancing growth investments with financial stability.
Opportunities lie in driving transaction growth through network expansion, marketing optimization, and leveraging premiumization strategies. Valvoline's commitment to operational efficiency and returning cash to shareholders positions it for sustained growth.
Overall, Valvoline's performance highlights a resilient business model, proactive growth strategies, and a focus on enhancing customer value. Addressing challenges and capitalizing on opportunities will be key to sustaining momentum and driving future success.

Valvoline reports strong Q2 earnings, eyes service expansion opportunities

Valvoline's Q2 2024 performance showcased robust financial growth, operational efficiency improvements, and strategic store network expansion.
While facing challenges with ERP system implementation and battery offering complexities, the company's strengths in service penetration, store format optimization, and customer retention strategies position it well for future growth.
Opportunities lie in further service expansion, operational enhancements, and strategic partnerships to drive continued success and profitability in the evolving automotive services market.

Valvoline reports robust Q3 performance amidst revenue growth challenges

Valvoline's Q3 performance reflects strong growth in sales, EBITDA, and store network expansion, driven by strategic initiatives.
While challenges in revenue growth and profitability exist, opportunities in service expansion and marketing optimization offer avenues for future growth.
Efficient cost management and a focus on customer service position Valvoline for sustained success in a competitive market landscape.
Overall, Valvoline's Q3 results demonstrate a balanced approach to growth, profitability, and operational excellence.

Valvoline reports robust growth in FY 2024, eyes expansion opportunities

Valvoline's strong FY 2024 performance and strategic priorities position it for continued growth.
While challenges like tariffs and rising costs exist, the company's focus on efficiency and growth initiatives is commendable.
Opportunities in new markets and customer expansion offer avenues for revenue growth.
Overall, Valvoline's focus on operational excellence and customer loyalty underpins its financial success.

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LEXINGTON, Ky. , May 11, 2023 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV), a trusted leader in preventive automotive maintenance delivering quick and convenient service, today announced that it has commenced a modified "Dutch auction" tender offer to repurchase up to $1.0 billion in value of shares of its common stock at a price not greater than $40.00 per share nor less than $35.00 per share, to the seller in cash, less any applicable withholding taxes and without interest, upon the terms and subject to the conditions set forth in the Offer to Purchase and Letter of Transmittal that are being distributed to stockholders (the "Offer").

Valvoline Announces Commencement of Tender Offer to Repurchase up to $1.0 Billion in Value of Its Common Stock

Valvoline Inc. (NYSE:VVV ) Q2 2023 Earnings Conference Call May 10, 2023 9:00 AM ET Company Participants Elizabeth Russell - IR Sam Mitchell - CEO Lori Flees - President of Retail Services Mary Meixelsperger - CFO Conference Call Participants Simeon Gutman - Morgan Stanley Steven Zaccone - Citi Mike Harrison - Seaport Research Partners Dan Rizzo - Jefferies Jason English - Goldman Sachs Operator Good morning, ladies and gentlemen, welcome to today's Valvoline Second Quarter 2023 Earnings Conference Call and Webcast. My name is [Jaqueta].

Valvoline Inc. (VVV) Q2 2023 Earnings Call Transcript

Valvoline (VVV) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.48 per share a year ago.

Valvoline (VVV) Surpasses Q2 Earnings Estimates

Sale of Global Products Complete, Moving Forward with Return of Proceeds Completed sale of Global Products business on March 1, generating $2.38 billion of net proceeds and an after-tax gain on the sale of discontinued operations of $1.15 billion Intend to commence a modified "Dutch auction" tender offer for up to $1 billion of Valvoline common stock, subject to market conditions Sales from continuing operations of $344.5 million grew 16% and 19% on an adjusted basis1, while system-wide same store sales (SSS) increased 13.5% Reported income from continuing operations of $32.9 million grew 43% and earnings per diluted share (EPS) of $0.19 increased 46% Continuing operations adjusted EPS of $0.23 increased 64% and adjusted EBITDA of $87.1 million increased 26% Net store additions total 35 (19 company-operated and 16 franchised) bringing total system-wide stores to 1,781; focused on continued growth to long-term goal of 3,500+ store count LEXINGTON, Ky. , May 10, 2023 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV), a trusted leader in preventive automotive maintenance delivering quick and convenient service, today reported financial results for its second fiscal quarter ended March 31, 2023.

Valvoline Reports Second-Quarter Results

LEXINGTON, Ky. , April 18, 2023 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV), a trusted leader in preventive automotive maintenance delivering quick and convenient service, today announced that it plans to report financial results for its fiscal second quarter on May 10, 2023.

Valvoline to Report Financial Results for Second Quarter 2023 and Host Webcast on May 10

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LEXINGTON, Ky. , March 1, 2023 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV), a trusted leader in preventive automotive maintenance delivering quick and convenient service, today announced that it has completed the previously announced sale of its Global Products business to Aramco.

Valvoline Inc. Completes Sale of its Global Products Business

Global brand puts a spotlight on mechanics every March in appreciation for keeping the world moving LEXINGTON, Ky. , Feb. 20, 2023 /PRNewswire/ -- Valvoline's global products business, a global automotive leader powering the future of mobility through innovative lubricant and fluid products, today kicked off its 4th annual Mechanics Month, a campaign to celebrate the impact of mechanics around the world.

Valvoline's™ global products business launches its 4th annual Mechanics Month Campaign

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Valvoline Inc. (NYSE:VVV ) Q1 2023 Earnings Conference Call February 7, 2023 9:00 AM ET Company Participants Elizabeth Russell - Investor Relations Sam Mitchell - Chief Executive Officer Lori Flees - President of Retail Services Mary Meixelsperger - Chief Financial Officer Conference Call Participants Simeon Gutman - Morgan Stanley Mike Harrison - Seaport Research Partners Dan Rizzo - Jefferies Chris Shaw - Monness, Crespi & Hardt Operator Good morning or good afternoon, all, and welcome to the Valvoline First Quarter FY ‘23 Earnings Webcast. My name is Adam, and I'll be your operator for today.

Valvoline Inc. (VVV) Q1 2023 Earnings Call Transcript

Valvoline is seeing strong demand for quick and convenient oil changes and other automotive services. The preventative vehicle maintenance provider saw its system-wide same-store sales increase 11.9% during the quarter ended Dec. 31, and it's continuing to add locations across the country, according to a Tuesday (Feb. 7) press release.

Valvoline Looks to Double Retail Locations as Vehicle Maintenance Surges

Valvoline (VVV) delivered earnings and revenue surprises of -27.27% and 0.11%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Valvoline (VVV) Q1 Earnings Miss Estimates

Sale of the Global Products business remains on track with closing expected in early calendar year 2023 with $1.6 billion of the net cash proceeds expected to be returned via share repurchases in the 18 months following close Sales from continuing operations of $332.8 million grew 16%, while system-wide same store sales (SSS) increased 11.9% Reported income from continuing operations of $27.0 million declined 21% and earnings per diluted share (EPS) of $0.15 decreased 21%1 Continuing operations adjusted EPS of $0.16 was flat and adjusted EBITDA of $73.3 million increased 1% Net store additions total 31 (23 company-operated and 8 franchised) bringing total system-wide stores to 1,746; focused on continued growth to long-term goal of 3,500+ store count Reaffirming fiscal 2023 guidance for continuing operations adjusted EBITDA of $370 million - $390 million LEXINGTON, Ky. , Feb. 7, 2023 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV), a trusted leader in preventive automotive maintenance delivering quick and convenient service, today reported financial results for its first fiscal quarter ended December 31, 2022.

Valvoline Reports First-Quarter Results

Valvoline restructuring itself into a maintenance shop for both ICE and EVs may allow it to prosper in an EV future. Valvoline's profitability and growth are good, but still could use some work.

Valvoline's Changes Opens Up Opportunities

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LEXINGTON, Ky. , Jan. 27, 2023 /PRNewswire/ -- Valvoline's global products business today launched a fixed-operations software service at the 2023 National Automobile Dealers Association (NADA) Show.

Valvoline's™ global products business launches proprietary fixed-ops software exclusively for dealership partners

LEXINGTON, Ky. , Jan. 24, 2023 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV), a global leader in vehicle care powering the future of mobility through innovative services and products, today announced that it plans to report financial results for its fiscal first quarter on February 7, 2023.

Valvoline to Report Financial Results for First Quarter 2023 and Host Webcast on February 7

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LEXINGTON, Ky.--( BUSINESS WIRE )--Valvoline Inc. (NYSE: VVV), a trusted leader in preventive automotive maintenance delivering quick and convenient service, today announced that it has established an internal ESG and Equality Council (the “Council”) to guide and support the Company's continued progress on Environmental, Social and Governance (“ESG”) initiatives as it transitions into a pure-play retail services business. The creation of the Council follows the Company's constructive discussions with Chicane Capital Management, LP, (“Chicane”), the investment manager to current Valvoline shareholder, Chicane Opportunities Fund, LP.

Valvoline Establishes ESG and Equality Council to Support Continued Progress on Sustainabilty, DE&I and Governance Matters

LEXINGTON, Ky. , Nov. 21, 2022 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV) today announced that its board of directors declared a quarterly cash dividend of $0.125 per share of Valvoline common stock.

Valvoline Declares Quarterly Dividend

Valvoline, Inc. (NYSE:VVV ) Q4 2022 Earnings Conference Call November 15, 2022 8:00 AM ET Company Participants Sean Cornett - Senior Director, IR & Assistant Treasurer Samuel Mitchell - CEO & Director Lori Flees - President, Retail Services Mary Meixelsperger - CFO Conference Call Participants Michael Kessler - Morgan Stanley Jeffrey Zekauskas - JPMorgan Chase & Co. Laurence Alexander - Jefferies Chasen Bender - Citi Michael Harrison - Seaport Research Partners Operator Thank you all for joining, and welcome to Valvoline's Q4 2022 Earnings Conference Call and Webcast. [Operator Instructions].

Valvoline, Inc. (VVV) Q4 2022 Earnings Call Transcript

Announces $1.6 Billion Share Repurchase Authorization; Sale of Global Products Expected to Close in Early Calendar Year 2023 Full-year highlights Reported net income of $424.3 million grew 1% and earnings per diluted share (EPS) of $2.35 grew 3% Adjusted EPS of $2.12 improved 9% and adjusted EBITDA of $674.6 million increased 7% Continuing operations net revenues of $1.2 billion increased 19%, reported net income of $109.4 million decreased 45% and adjusted EBITDA of $315.7 million increased 14% Continuing operations results reflect supply agreement markup, agency accounting treatment and indirect expense realignment System-wide same-store sales (SSS) increased 13.7% -- the 16th consecutive year of SSS growth -- and net system-wide unit additions increased 8% Returned $231.8 million in cash to shareholders via share repurchases and dividends Provides fiscal 2023 guidance for continuing operations adjusted EBITDA of $370 million - $390 million Fourth-quarter summary Reported net income of $157.7 million declined 7% and EPS of $0.88 decreased 4% Adjusted EPS of $0.59 improved 20% and adjusted EBITDA of $181.6 million increased 18% Continuing operations sales of $335.4 million increased 14%, reported net income of $12.4 million decreased 90% and adjusted EBITDA of $87.5 million increased 11% System-wide SSS increased 9.2% and net system-wide unit additions increased 1% during the quarter Returned $61.2 million in cash to shareholders via dividends and share repurchases LEXINGTON, Ky. , Nov. 15, 2022 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV), a trusted leader in preventive automotive maintenance delivering quick and convenient service, today reported financial results for its fourth fiscal quarter and fiscal year ended September 30, 2022.

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