Valvoline Stock Price, News & Analysis

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.

Valvoline Inc. (NYSE: VVV) announced a quarterly cash dividend of $0.125 per share of common stock. This dividend is payable on March 15, 2022, to shareholders on record as of February 28, 2022. The company continues to demonstrate its commitment to returning value to shareholders while maintaining a robust position in the vehicle care market.

Valvoline Inc. (NYSE: VVV) is set to report its fiscal first quarter financial results on February 8, 2022, after market close. Following this, a live audio webcast for analysts and investors will occur at 9 a.m. ET on February 9, 2022. The webcast and presentation will be accessible on Valvoline's Investor Relations website, with a replay available post-call. Established in 1866, Valvoline is a leader in vehicle care, operating approximately 1,600 service centers and selling products in over 140 countries.

Valvoline (NYSE: VVV) was honored with the 2021 Global Supplier Recognition Award from Cummins, Inc. for Best Safety Practices in indirect sourcing. This accolade positions Valvoline among Cummins' elite suppliers, reflecting over 25 years of collaboration to develop lubricants for various vehicles, including those using alternative fuels. The award highlights Valvoline's commitment to quality, safety, and innovation. In September 2021, Valvoline renewed a five-year marketing and technology partnership with Cummins, reinforcing its strategic alignment with the global power leader.

Valvoline Inc. (NYSE: VVV) announced a search for new Board members with expertise in electric vehicles, energy transition, and autonomous transportation, aiming for a candidate by May 1, 2022. The company is simultaneously seeking a new president for its Retail Services business, engaging a leading executive search firm for both searches. CEO Sam Mitchell highlighted the importance of board evolution in supporting the company's positioning amidst changing transportation landscapes. Discussions with Chicane Capital Management emphasize shareholder engagement and the need for transformative actions to unlock value.

Valvoline has partnered with Arrival to enhance vehicle maintenance services for electric vehicles (EVs) and hybrids. As one of four initial service partners in Arrival's Service Network Program in the U.S., Valvoline aims to integrate its maintenance expertise with Arrival's innovative service platform. This partnership is designed to swiftly meet the maintenance needs of Arrival's clients, leveraging Valvoline's extensive service network of nearly 1,600 centers. The collaboration signifies a strategic move for Valvoline to expand its offerings in the EV sector.