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. reports developments tied to its preventive automotive maintenance business, which operates and franchises service centers in the United States and Canada. The company’s updates center on Valvoline Instant Oil Change service centers, stay-in-your-car oil changes, manufacturer-recommended maintenance services such as wiper replacements and tire rotations, and the performance of its company-operated and franchised store network.
Valvoline announcements include quarterly financial results, system-wide same-store sales, new-store contributions, franchise-system recognition, customer-service ratings, and community programs under the company’s Happy to Help charitable giving initiatives. Updates also cover investor webcasts and strategic commentary on network growth, store productivity, and service offerings for changing vehicle maintenance needs.
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.
Valvoline Inc. (NYSE: VVV) announced a quarterly cash dividend of $0.125 per share, payable on Dec. 15, 2021. Shareholders of record as of Nov. 29, 2021 will receive this dividend, reflecting the company's ongoing commitment to returning value to its investors. Founded in 1866, Valvoline is a leader in vehicle care and operates approximately 1,600 service center locations in North America, along with a presence in over 140 countries. This dividend announcement highlights Valvoline's sustained profitability and its strategic focus on innovative automotive solutions.
Valvoline reported a strong fiscal 2021, with net income increasing 32% to $420 million and EPS reaching $2.29, up 36%. Sales rose 27% to $3 billion, driven by a 38% surge in Retail Services and a 20% increase in Global Products. Fourth-quarter results showed net income of $168 million, a 38% rise, with adjusted EBITDA improving 5% to $155 million. The company plans to separate its Retail Services and Global Products segments to enhance growth and capitalization. Valvoline anticipates sales growth of 19-21% for fiscal 2022, with adjusted EPS guidance between $2.06 and $2.18.
Valvoline Inc. (NYSE: VVV) has launched XEV, its first product suite in China targeting hybrid, plug-in hybrid, and electric vehicles. Developed in partnership with Tuhu, this innovative range includes motor oil, battery protection fluid, and more, aiming to boost vehicle performance while cutting maintenance costs. The launch aligns with a forecast that predicts over 50% of new vehicle sales in China will be new energy vehicles by 2035, signaling Valvoline's strategic shift towards electrification in a changing automotive landscape.
Valvoline Inc. (NYSE: VVV) announced plans to report its fiscal fourth quarter financial results on Nov. 3, 2021, after market close. A live audio webcast for analysts and investors will follow on Nov. 4, 2021, at 9 a.m. ET. Valvoline operates approximately 1,600 service center locations and has established itself as the No. 1 supplier of battery fluids for electric vehicles. The webcast and presentation will be available on its Investor Relations website, with replays accessible afterwards.
Valvoline Inc. (NYSE: VVV) announced plans to separate its Retail Services and Global Products segments, aiming to enhance shareholder value and operational focus. The Retail Services segment, contributing over half of adjusted EBITDA, is expected to report $1.2 billion in sales for fiscal 2021, a 38% increase year-over-year. Global Products anticipates $1.8 billion in sales, up 20%. The separation's timetable is yet to be established, with financial results for fiscal 2021 set for November 3, 2021, predicting total sales of $3 billion, up 27% from the previous year.
Valvoline Inc. (NYSE: VVV) and Cummins Inc. have renewed their marketing and technology partnership for five years. This collaboration will continue to promote Valvoline's Premium Blue™ engine oil, which Cummins will endorse and sell globally. Cummins' plants will utilize Valvoline products in daily operations. The partnership, established in the mid-1990s, has resulted in award-winning products like Valvoline Premium Blue One Solution. This renewal aims to enhance engine performance and lower operating costs for customers worldwide.
Valvoline Inc. (NYSE: VVV) reported strong financial results for Q3 2021, with operating income up 28% and adjusted EBITDA growing 35% compared to Q3 2019. The Retail Services segment saw over 40% same-store sales growth and doubled profitability. Global Products delivered 46% sales growth, showcasing strong pricing power. Despite rising raw material costs impacting profitability, Valvoline expects to generate $200 million in discretionary free cash flow this year. The company is tightening its adjusted EBITDA guidance to $620 million to $640 million and plans to return excess cash to shareholders.
Valvoline Inc. (NYSE: VVV) has signed a definitive agreement to acquire six franchise-owned Valvoline Instant Oil Change quick-lube service centers from Phoenix 27, LLC, located in Kentucky. This acquisition aims to strengthen Valvoline's Retail Services segment and is expected to close in Q4 FY 2021. While financial terms were undisclosed, Valvoline continues to pursue growth through both organic expansion and acquisitions, enhancing its established network of 49 company-owned locations in Kentucky.