Welcome to our dedicated page for Valvoline news (Ticker: VVV), a resource for investors and traders seeking the latest updates and insights on Valvoline stock.
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) announced plans to report its fiscal second quarter financial results on May 10, 2023. A live audio webcast for analysts and investors will also take place on the same day at 9 a.m. ET. This presentation will be accessible on Valvoline's Investor Relations website, which will also host a replay afterward. Valvoline operates and franchises over 1,700 service centers across the U.S. and Canada, specializing in preventive automotive maintenance services. The company emphasizes convenience and transparency, boasting an average consumer rating of 4.6 out of 5 stars based on over 600,000 customer surveys annually.
On March 1, 2023, Valvoline Inc. (NYSE: VVV) announced the completion of its Global Products business sale to Aramco for $2.65 billion in cash. This strategic move allows Valvoline to focus solely on automotive services, backed by a $1.6 billion share repurchase plan aimed at returning capital to shareholders over the next 18 months. CEO Sam Mitchell expressed optimism about future growth and capital allocation. The sale enhances capital structure and is projected to provide significant returns. Goldman Sachs acted as the financial advisor for Valvoline during this transaction.
Valvoline's global products business has launched its 4th annual Mechanics Month campaign, starting in March 2023, to recognize the contributions of mechanics in over 60 countries. This initiative aims to enhance consumer awareness through social media, events, and paid advertising. Valvoline emphasizes the importance of mechanics in keeping vehicles operational. Additionally, the company announced a significant agreement to sell its global products business for $2.65 billion in cash, expected to close in early 2023. The campaign reflects growing community appreciation for mechanics as essential to the automotive industry.
Valvoline Inc. (NYSE: VVV) reported its Q1 financial results for the period ending December 31, 2022. Revenues from continuing operations reached $332.8 million, a 16% increase, with same-store sales (SSS) rising by 11.9%. However, reported income from continuing operations fell by 21% to $27.0 million, with earnings per diluted share (EPS) also decreasing by 21% to $0.15. The company reaffirmed its fiscal 2023 guidance for adjusted EBITDA at $370 million - $390 million and aims for 130-160 new store additions. The sale of its Global Products business is expected to complete in early 2023, returning $1.6 billion in cash through share repurchases in the following 18 months.
Valvoline has launched Vision Service Lane Technology at the 2023 NADA Show, aimed at enhancing fixed operations for automotive dealerships. This software provides a tailored, VIN-specific menu of services to increase revenue in service departments. It features remarketing capabilities to keep consumers engaged and streamline operations for pre-owned vehicle reconditioning.
Vision is exclusively available to dealerships purchasing Valvoline products, emphasizing their commitment to partnership and consumer loyalty. Previously, Valvoline announced an agreement to sell its global products business for $2.65 billion, expected to close in early 2023.
Valvoline Inc. (NYSE: VVV) has announced plans to report its fiscal first-quarter financial results on February 7, 2023. A live audio webcast for analysts and investors is scheduled at 9 a.m. ET on the same day, which will be accessible on the Company’s Investor Relations website. Following the call, a replay will also be available. Valvoline, a leader in vehicle care, operates over 1,700 service center locations and is known for its innovative automotive service solutions, reflected in a strong consumer rating of 4.6 out of 5 stars.
FAQ
What is the current stock price of Valvoline (VVV)?
What is the market cap of Valvoline (VVV)?
What services does Valvoline Inc. offer?
Where can I find Valvoline Instant Oil Change locations?
How does Valvoline support the community?
What are Valvoline’s notable recent achievements?
How does Valvoline ensure service quality?
What is Valvoline’s financial outlook?
Does Valvoline have any special programs or competitions?
How can investors stay informed about Valvoline's financial performance?
What are Valvoline’s core values?
How has Valvoline adapted to changes in the automotive market?
