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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 reported a net income of $81 million, up 19%, with earnings per diluted share (EPS) increasing 22% to $0.45. Sales rose 26% to $886 million, driven by retail services and global product demand. Retail Services sales grew 23%, aided by a 13.1% same-store sales increase, while Global Products saw a 29% increase. The company returned $57 million to shareholders through dividends and share repurchases and reiterated its full-year adjusted EBITDA guidance of $675 to $700 million and adjusted EPS of $2.07 to $2.20.
Valvoline Inc. (NYSE: VVV) has appointed Jennifer Slater as an independent director to its Board of Directors effective July 1, 2022. Slater brings over 25 years of global leadership experience in the automotive industry, currently serving as Group VP at Clarios. She is expected to enhance Valvoline's strategic goals and insights into evolving vehicle trends. Stephen Kirk, the former chairman, will retire on June 30, 2022, after leading the company's transformation towards a more services-driven model. Valvoline continues to separate its Global Products and Retail Services business segments.
Valvoline Inc. (NYSE: VVV) has declared a quarterly cash dividend of $0.125 per share, payable on June 15, 2022, to shareholders on record as of May 31, 2022. This announcement underscores Valvoline's commitment to returning value to its shareholders while maintaining its position as a leader in vehicle care and innovative products.
Valvoline Inc. (NYSE: VVV) announced plans to report its fiscal second quarter financial results post-market close on May 9, 2022. A live audio webcast with analysts and investors is scheduled for 9 a.m. ET on May 10, 2022. Valvoline, a leader in vehicle care, services over 1,600 locations and operates in more than 140 countries. The company aims to enhance mobility through innovative automotive solutions, including battery fluids for electric vehicles. The webcast will be accessible on Valvoline's Investor Relations website, with a replay available shortly after.
Valvoline (NYSE: VVV) has renewed its partnership with the Toronto Blue Jays, expanding its marketing efforts in Canada. This multi-year agreement grants Valvoline national marketing rights for the 2022 season and beyond, enhancing visibility with signage at home games. The partnership includes various advertising initiatives, such as outdoor campaigns and digital promotions. Valvoline aims to elevate its marketing strategy, targeting Canadian vehicle owners and driving brand recognition through this collaboration, which builds on a successful first year.
Valvoline Inc. (NYSE: VVV) has appointed Lori Flees as president of its fast-growing Retail Services segment. Flees, previously a senior executive at Walmart, brings extensive experience in strategy and technology application to enhance Valvoline's operations. The Retail Services segment operates over 1,600 locations across the U.S. and Canada, employing nearly 9,000 people. Flees will lead a team focused on maintaining high-quality customer experiences, with the segment boasting 15 consecutive years of same-store sales growth. She starts her role on April 11, 2022.
Valvoline Inc. (NYSE: VVV) announces the March launch of its 3rd annual Mechanics' Month campaign aimed at honoring mechanics globally. This month-long initiative recognizes the essential role of mechanics in vehicle care and mobility. Expanding from 15 to 50 participating countries, the campaign will utilize social media, giveaways, and ads to celebrate these professionals. Valvoline, with over 150 years of history, has shown commitment to the mechanic community through various programs, enhancing consumer awareness and appreciation.
Valvoline (NYSE: VVV) announced the launch of its 3rd annual Mechanics' Month campaign set for March 2022. This month-long initiative aims to honor mechanics globally for their crucial role in vehicle maintenance. Expanding from 15 to 50 participating countries, the campaign will utilize social media, giveaways, and localized events to enhance consumer awareness. Valvoline emphasizes its long-standing commitment to the automotive industry and its significant growth in campaign participation, reinforcing its brand's unique position in vehicle care.
Valvoline reported flat net income of $87 million and a slight EPS increase of 2% to $0.48 for Q1 FY2022. Adjusted EPS rose by 12%, while adjusted EBITDA improved by 5% to $156 million. Sales surged 31% to $858 million, with Retail Services up 36% and Global Products up 28%. Despite strong demand and growth, profitability declined due to cost pressures. Valvoline returned $54 million to shareholders through dividends and share repurchases, and affirmed its guidance for the fiscal year, anticipating continued growth despite supply chain challenges.
Valvoline Inc. (NYSE: VVV) has initiated a pilot program for electric vehicle (EV) services in select retail locations. This program marks a significant step in Valvoline's strategy to expand its maintenance services to EV owners, emphasizing their commitment to innovation in the automotive sector. Initial services include 12-volt battery replacements, tire rotations, and state safety inspections, with further EV-specific services planned for summer 2022. Valvoline is also recognized as one of the initial service partners for Arrival, focusing on sustainable vehicle solutions.
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