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) has appointed Mahmoud (Mack) Sharaf as Treasurer and Vice President of Investor Relations, effective immediately. Sharaf brings over 20 years of financial industry experience, having held roles at Fidelity Management and served as an advisor to Saudi Arabia's Minister of Energy. He will oversee Valvoline's capital markets strategy, treasury operations, and investor relations. CEO Mary Meixelsperger emphasized the need for strong investor connections as Valvoline's retail service model expands. The company is coming off its best first quarter in history, showcasing strong momentum.
Valvoline reported strong financial results for its first fiscal quarter ended December 31, 2020, showcasing resilience despite COVID-19 challenges. Net income rose to $87 million ($0.47 per share), up from $73 million ($0.39) a year earlier. Adjusted EBITDA increased 21% to $145 million. The Quick Lubes segment saw a 17% sales growth, while international sales rose 16%. Valvoline returned $81 million to shareholders through dividends and share repurchases. The company forecasts 14-16% sales growth for 2021 and expects adjusted EBITDA of $560-$580 million, reaffirming confidence in ongoing business performance.
Valvoline Inc. (NYSE: VVV) announced a quarterly cash dividend of $0.125 per share, payable on March 15, 2021, to shareholders of record by February 26, 2021. This reflects the company’s commitment to returning value to shareholders amidst its operations in over 140 countries, where it ranks as a leading marketer and supplier of premium lubricants. Valvoline's heritage of over 150 years has established strong brand recognition, particularly in the DIY market, where it holds the No. 3 position in passenger car motor oil by volume.
Valvoline Inc. (NYSE: VVV) plans to report its financial results for the fiscal first quarter after market close on February 3, 2021. A live audio webcast for analysts and investors will be held the following day at 9 a.m. ET. This webcast will be accessible on the Investor Relations website, where a replay will also be available shortly thereafter. Established in 1866, Valvoline is a leading supplier of premium lubricants and automotive services, operating nearly 1,500 quick-lube locations and marketing various automotive chemicals across over 140 countries.
Made4net has been selected by Valvoline to implement its advanced warehouse management system (WMS) for optimizing national distribution operations starting with a new distribution center in Cincinnati, OH. This upgrade, prompted by Valvoline's growth, aims to enhance inventory management and fulfillment across retail and e-commerce channels. The Made4net WMS will facilitate labor efficiency and inventory accuracy while integrating advanced tools for data management, ultimately aiming to lower costs and improve customer service in North America.
Valvoline Inc. (NYSE: VVV) has launched an innovative gear oil packaging called FlexFill, designed to simplify synthetic gear oil changes while minimizing waste. The FlexFill bag allows for easier maneuverability in tight automotive spaces, ensuring users can utilize all the oil purchased without difficulty. Available in SAE 75W-90 and SAE 75W-140, FlexFill will be sold at major retailers like Advance and Walmart starting April 2021. Valvoline continues to innovate to meet evolving customer needs while maintaining a strong market presence as a top lubricant supplier.
Valvoline Inc. (NYSE: VVV) announced the pricing of $535 million in aggregate principal amount of 3.625% Senior Notes due 2031. These unsecured notes will be guaranteed by Valvoline's subsidiaries. Proceeds from the offering will be used to redeem all existing 4.375% Senior Notes due 2025 and to cover related fees and expenses. The offering is expected to close on January 4, 2021, pending customary conditions. The Notes are offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.
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.