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Valvoline Inc. (NYSE: VVV) is a prominent global leader in automotive preventive maintenance, known for its innovative and high-quality services. The company specializes in the production, marketing, and sales of automotive maintenance products, particularly lubricants. Valvoline offers a range of products, including engine oil, heavy-duty engine oil, motorcycle oil, grease, and brake fluid. Valvoline's operations are extensive, with the majority of its revenue generated in the United States.
Valvoline's business model is anchored in its Valvoline Instant Oil Change℠ (VIOC) service centers, which operate over 1,900 locations across North America. These centers provide quick and trusted services like 15-minute stay-in-your-car oil changes, battery, bulb, and wiper replacements, tire rotations, and other manufacturer-recommended maintenance services. The company’s commitment to quality service is reflected in its 4.6 out of 5-star rating, based on surveys from over 900,000 VIOC customers annually.
Valvoline has a rich history of innovation dating back to its founding, consistently reinventing formulas for racing, high-mileage, and synthetic recycled motor oils. This tradition of innovation continues as Valvoline invests in the latest technologies and processes to serve an evolving car parc.
The company has also demonstrated significant financial growth and resilience. In fiscal year 2023, Valvoline reported $1.4 billion in revenue from $2.8 billion in system-wide store sales, marking 17 consecutive years of same-store sales growth. Recent achievements include completing the sale of its Global Products segment, returning $1.5 billion to shareholders through share repurchases, and a leadership transition that sets the foundation for continued growth and shareholder value creation.
Valvoline is actively involved in community support and partnerships. Notably, select VIOC locations have teamed up with the American Cancer Society’s Road to Recovery Program, raising over $493,000 since 2017. The company’s dedication to social responsibility underscores its broader commitment beyond business operations.
Valvoline's strategy moving forward focuses on expanding its network, enhancing shareholder value, and innovating automotive service offerings to meet customer needs. With plans to add 140-170 new stores in fiscal 2024, the company is on a robust growth trajectory.
Valvoline Inc. is not just about automotive products; it’s about creating long-term value for its shareholders, providing exceptional service to its customers, and making a positive impact on the community. To learn more, visit Valvoline's official website.
Valvoline Inc. (NYSE: VVV) launches its annual fundraising campaign for Children's Miracle Network Hospitals from November 1-30, 2024, marking 15 years of partnership. The company has raised over $6 million to date. Customers at participating Valvoline Instant Oil Change and Great Canadian Oil Change locations can donate, with 100% of proceeds benefiting local children's hospitals. Donors receive a $10 discount coupon for future services. The campaign aims to raise $1.5 million across 1,400 service centers in the U.S. and Canada. Online donations are also accepted through helpmakemiracles.org/campaign/valvoline.
Valvoline (NYSE: VVV), a leader in preventive automotive maintenance, has announced it will release its fiscal fourth quarter 2024 financial results on November 19, 2024. The company will host a live audio webcast with analysts and investors at 9 a.m. ET on the same day. The webcast and slide presentation will be accessible through Valvoline's Investor Relations website, with a replay available shortly after the call.
Valvoline Instant Oil Change has secured the 40th position in the Franchise Times Top 400, a comprehensive ranking of the largest U.S. franchise systems. This achievement is based on global systemwide sales from the previous year and reflects Valvoline's commitment to growing its franchise network and supporting its partners.
Valvoline Inc. (NYSE: VVV) franchises over half of its Valvoline Instant Oil Change locations in the United States. These service centers offer quick, stay-in-your-car oil changes in about 15 minutes, along with a range of preventive maintenance services including tire rotations and fluid and battery replacements.
CEO and President Lori Flees emphasized the company's dedication to providing high-quality support to franchise partners and offering an attractive investment opportunity for both new and existing partners.
Valvoline Inc. (NYSE: VVV) has announced the planned retirement of its Chief Financial Officer, Mary Meixelsperger. She will continue as CFO until a successor is hired and will remain with the company during the transition period. Valvoline has initiated a comprehensive search for a new CFO, considering both internal and external candidates.
CEO Lori Flees expressed gratitude for Meixelsperger's leadership and contributions, highlighting her role in building the company. Meixelsperger joined Valvoline in 2016, just before its successful IPO and spinoff from Ashland Global Holdings. She previously served as CFO for DSW Inc. and Shopko Stores, and currently serves on the board of directors for Genesco Inc. and the Cincinnati branch board of The Federal Reserve Bank of Cleveland.
Valvoline Inc. (NYSE: VVV) has reached a significant milestone by opening its 2,000th location under the Valvoline Instant Oil Change℠ and Great Canadian Oil Change brands in September 2024. This achievement marks progress towards the company's goal of expanding its network to 3,500 service centers across the United States and Canada.
The 2,000th location is a new, company-operated, two-bay service center in Centerville, Ohio, representing the sixth Valvoline Instant Oil Change location in the Dayton metro area. Valvoline Instant Oil Change has been recognized as the #1 automotive preventive maintenance service provider on Entrepreneur's Franchise 500® 2024 list and ranked #11 on Forbes' Best Customer Service list. Additionally, Valvoline's Great Canadian Oil Change brand secured the top spot in J.D. Power's Canadian Customer Service Index for aftermarket service facilities.
Valvoline Great Canadian Oil Change has ranked highest among aftermarket service facilities in J.D. Power's 2024 Canada Customer Service Index–Long-Term Study. The study, conducted from May-June 2024, measured service usage and satisfaction of owners of vehicles from 4-12 years old, analyzing both warranty and non-warranty services.
The survey evaluated overall satisfaction based on five key factors: service quality, vehicle pick-up, service facility, service initiation, and service advisor. Great Canadian Oil Change scored 834 on a 1,000-point scale, based on responses from 8,750 vehicle owners.
Valvoline Inc. (NYSE: VVV) owns and franchises about 130 locations in five Canadian provinces. These service centers offer stay-in-your-car oil changes in approximately 15 minutes, along with various preventive maintenance services including tire rotations, fluid and battery replacements.
Valvoline (NYSE: VVV), a leader in automotive maintenance, will participate in the Piper Sandler Growth Frontiers Conference on September 10, 2024. The company will engage in a fireside chat at 4 p.m. ET. Investors can access a live audio webcast of the event on Valvoline's investor relations website. An archived version of the webcast will be available after the live event for those unable to attend.
This participation highlights Valvoline's commitment to investor engagement and transparency. The conference provides an opportunity for the company to showcase its growth strategies and market position in the automotive maintenance sector.
Valvoline Inc. (NYSE: VVV) has announced its partnership as the official oil change provider for the Boise State University Broncos. The collaboration kicks off on August 22, 2024, with a special event featuring Buster Bronco and the Bronco Spirit Squad at the Apple Street Valvoline Instant Oil Change location. Throughout the 2024-2025 school year, 'Bronco Fan Fridays' will offer a 20% discount to customers wearing Broncos Blue or Boise State spirit wear at all 14 Valvoline locations in Boise.
The partnership includes plans for special events at home football games. Valvoline aims to provide quick, easy, and trusted automotive preventive maintenance services to the Boise community, particularly targeting college students who may be unsure about car maintenance. The kick-off event on August 22 will run from 8 a.m. to 7 p.m., featuring Buster Bronco and opportunities to win tickets to the September 21 home-opener game against Portland State.
Valvoline Inc. (NYSE: VVV), a leader in preventive automotive maintenance, has announced its participation in Goldman Sachs' 31st Annual Global Retailing Conference. The company will engage in a fireside chat on Thursday, September 5, at 2:35 p.m. ET.
Investors and interested parties can access a live audio webcast of the event through Valvoline's investor relations website at http://investors.valvoline.com. For those unable to attend the live session, an archived version of the webcast will be made available on the same website following the event.
This participation highlights Valvoline's commitment to engaging with investors and sharing insights about its business operations and strategies in the automotive maintenance sector.
Valvoline (NYSE: VVV) reported its third quarter 2024 results, showcasing a 12% increase in sales to $421 million, driven by a 6.5% growth in system-wide same-store sales (SSS). Despite this, income from continuing operations declined 25% to $48 million, and EPS decreased 8% to $0.37. Adjusted EBITDA rose 12% to $123 million, and adjusted EPS increased 5% to $0.45. The company added 33 new stores, bringing the system-wide total to 1,961. Additionally, 17 stores were refranchised in July 2024. Valvoline’s cash and cash equivalents were $66 million, with a total debt of $1.1 billion following the repurchase of the 2030 Senior Notes. The company also announced a new $400 million share repurchase authorization and expects to meet or slightly fall below the midpoint of its adjusted EBITDA and EPS guidance.
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