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 widely described in its public communications as the quick, easy, trusted leader in preventive automotive maintenance, and the VVV news stream reflects this focus. Company news frequently highlights developments across its franchised and company-operated service center network in the United States and Canada, where Valvoline Instant Oil Change and Great Canadian Oil Change locations provide about 15-minute stay-in-your-car oil changes and other manufacturer-recommended maintenance services such as wiper replacements and tire rotations.
Investors and followers of Valvoline Inc. can expect news items covering financial results, including quarterly and annual earnings releases furnished on Form 8-K that discuss net revenues, operating income, adjusted EBITDA, system-wide store sales, and same-store sales growth. The company also issues updates about strategic transactions, such as the agreement and subsequent closing of the acquisition of OC IntermediateCo, Inc., which owns the Breeze Autocare business and Oil Changers quick lube oil change stores, and related financing arrangements under its amended credit agreement.
Valvoline’s news flow also includes corporate governance and leadership announcements, such as nominations and retirements on its board of directors and the appointment of senior executives, including a Chief Technology and Cybersecurity Officer. In addition, the company publishes releases on marketing initiatives and partnerships, for example campaigns like the “Instant Transfer Portal” designed to attract drivers from other oil change providers, and collaborations with college athletes to promote mental health awareness.
Another recurring theme in VVV news is community impact and philanthropy. Valvoline Instant Oil Change and Great Canadian Oil Change centers have been featured for raising funds for Children’s Miracle Network Hospitals and supporting children’s health and mental well-being through the company’s broader community impact platform. For ongoing insight into how Valvoline Inc. manages its retail network, finances growth, and engages with customers and communities, readers can follow the continuous stream of press releases and regulatory news linked to the VVV ticker.
Valvoline Inc. (NYSE: VVV) has announced the offering of $535 million in Senior Notes due 2031. These notes will be unsubordinated and unsecured obligations, guaranteed by subsidiaries under existing credit facilities. The company plans to use the proceeds to redeem its outstanding 4.375% Senior Notes due 2025 and cover related expenses. The offering is designed for qualified institutional buyers and non-U.S. persons, and the notes will not be registered under the Securities Act. This move aims to strengthen Valvoline's financial position.
Valvoline plans to acquire 27 quick-lube locations from Car Wash Partners, expanding its Valvoline Instant Oil Change network across the U.S. The agreement includes 15 company-owned and 12 franchise-operated centers, located in seven states. This acquisition, expected to close by the end of the year, aims to enhance Valvoline's service capabilities and support franchise partners. Financial details were not disclosed. Valvoline operates nearly 1,500 quick-lube locations and ranks as a leading supplier of lubricants and automotive services.
Valvoline Instant Oil Change (VIOC) has raised over $69,400 for the American Cancer Society (ACS) during October through their "DON'T PUT IT OFF!" campaign. This initiative encourages cancer screenings amid a reported 46% drop in cancer diagnoses due to the pandemic. Customers were offered the chance to donate, and VIOC contributed an additional $5 for each redeemed coupon from their campaign website. Overall, VIOC has raised more than $180,000 for ACS over the past four years, showcasing strong community support.
Valvoline Instant Oil Change (VIOC) raised $56,410 this fall for the Jimmy Fund, contributing to a total of over $297,400 since 2014. This initiative supports Boston's Dana-Farber Cancer Institute, enhancing survivability for cancer patients. CEO Don Smith emphasized the importance of these funds for patient care and research. Participation in this program reflects VIOC's commitment to community support and patient welfare, showcasing the generous spirit of its customers.
Valvoline Inc. (NYSE: VVV) announced a nearly 11% increase in its quarterly cash dividend to $0.125 per share, payable on Dec. 15, 2020. Shareholders of record by Nov. 30, 2020 will receive this dividend. Additionally, the board authorized a $100 million stock repurchase program, which will be active until Sept. 30, 2021. This initiative aligns with Valvoline's capital allocation strategy focused on driving business growth and returning excess cash to shareholders through dividends and buybacks.
Valvoline reported strong financial performance for Q4 2020, with net income of $122 million and EPS of $0.66, up significantly from $27 million and $0.14 in Q4 2019. Full-year net income reached $317 million and total sales of $2.35 billion declined by 2%. Adjusted EBITDA for Q4 increased by 16% to $150 million. The company expects substantial growth in 2021, with adjusted EBITDA projected between $560 - $580 million. VIOC same-store sales also showed strong recovery, growing 8.3% in Q4, returning to pre-COVID levels.
Valvoline (NYSE: VVV) will present at the Gabelli 44th Annual Automotive Aftermarket Symposium on November 3, 2020, at 10:00 a.m. ET. A live audio webcast will be accessible on Valvoline's website, with an archived version available afterward. Valvoline is a global leader in premium lubricants and automotive services, operating in over 140 countries. The company ranks No. 3 in the DIY passenger car motor oil market and operates approximately 1,400 quick-lube locations in the U.S. and Canada.
Valvoline Inc. (NYSE: VVV) will announce its fiscal fourth-quarter financial results after market hours on October 28, 2020. A live audio webcast for analysts and investors is scheduled for 9 a.m. ET on October 29, 2020. The webcast will be accessible on Valvoline's Investor Relations website, along with a slide presentation. Established in 1866, Valvoline is a leading supplier of lubricants and operates approximately 1,400 quick-lube locations in the U.S. and Canada.
Valvoline Inc. (NYSE: VVV) announced plans to acquire 33 quick-lube service centers in Idaho, Missouri, and Kansas through two separate transactions. The acquisitions include 12 centers from Einstein's Oilery in Boise, Idaho, and 21 existing Valvoline Instant Oil Change centers from Westco Lube, Inc. in the Kansas City area. Both deals are expected to close in early Q1 FY21, though financial terms were not disclosed. Valvoline aims to enhance its service offerings and expand its network amidst growing demand for quick-lube services, particularly during the COVID-19 pandemic.
Valvoline Instant Oil Change (VIOC) is partnering with the Jimmy Fund in New England this fall to raise funds for cancer research and patient care. Customers can contribute $1 at participating locations and receive a promotion card with guaranteed prizes. This initiative has already raised over $241,000 since inception. CEO Don Smith highlighted the importance of supporting cancer research, especially during the pandemic. This marks the seventh year of collaboration between VIOC and the Jimmy Fund, reinforcing their community commitment.