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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) is advising drivers to prepare their vehicles for extreme winter conditions as a polar vortex approaches the United States. The company highlights four key maintenance areas: battery charge testing, as cold temperatures reduce power output and charging capacity; windshield wiper inspection for optimal visibility; fluid level maintenance to prevent thickening or freezing; and tire pressure monitoring due to cold-weather air contraction.
The company's Valvoline Instant Oil Change service centers offer these 'winter road ready' services, many at no charge, with no appointment necessary. Their services include 15-minute stay-in-your-car oil changes, battery replacements, and other maintenance services, maintaining a 4.7 out of 5 star rating based on over 1 million customer surveys annually.
Valvoline (NYSE: VVV) announced its upcoming participation in the Morgan Stanley Global Consumer and Retail Conference. The company will engage in a fireside chat on Tuesday, December 3, at 3:00 p.m. ET. The event will be accessible through a live audio webcast on Valvoline's investor relations website, with an archived version available after the live presentation.
Franchise Equity Partners (FEP) has announced a strategic partnership with Valvoline Inc. to acquire 38 company-owned stores in West Texas, including locations in Austin, San Antonio, El Paso, and surrounding areas. The stores will be operated under a newly formed entity called Velocity Auto Care. FEP has assembled a leadership team including Robert Fish as CEO, Ashish Chapagain as CFO, and Spencer Mason as VP of Operations. The partnership aims to strengthen Valvoline's brand presence and growth strategy across Texas while maintaining their focus on preventive automotive maintenance services.
Valvoline (VVV) reported strong fiscal year 2024 results with sales reaching $1.6 billion, up 12% year-over-year. The company achieved its 18th consecutive year of system-wide same-store sales growth, with SSS increasing 6.7%. Store count grew nearly 9% to 2,010 locations. Net income from continuing operations rose 8% to $215 million, while adjusted EBITDA increased 17% to $443 million. The company returned $227 million to shareholders through share repurchases.
For Q4 2024, sales grew 12% to $436 million with system-wide SSS up 5.4%. The company added 49 new stores and completed refranchising of 28 stores during the quarter. For FY2025, Valvoline expects 5-7% SSS growth and 160-185 new stores.
Valvoline Inc. (NYSE: VVV) announces plans to refranchise 38 Valvoline Instant Oil Change service centers to Velocity Auto Care, a portfolio company of Franchise Equity Partners. The service centers are located in Austin, San Antonio, El Paso, and west Texas. This marks Valvoline's third refranchising initiative, following two transactions in FY2024 that converted 28 company stores to franchises in Las Vegas and Denver. Velocity Auto Care, which operates over 750 storefronts across 33 states, will join as Valvoline's newest franchise partner.
Valvoline Inc. (NYSE: VVV) launches its annual fundraising campaign for Children's Miracle Network Hospitals from November 1-30, 2024, marking 15 years of partnership. The company has raised over $6 million to date. Customers at participating Valvoline Instant Oil Change and Great Canadian Oil Change locations can donate, with 100% of proceeds benefiting local children's hospitals. Donors receive a $10 discount coupon for future services. The campaign aims to raise $1.5 million across 1,400 service centers in the U.S. and Canada. Online donations are also accepted through helpmakemiracles.org/campaign/valvoline.
Valvoline (NYSE: VVV), a leader in preventive automotive maintenance, has announced it will release its fiscal fourth quarter 2024 financial results on November 19, 2024. The company will host a live audio webcast with analysts and investors at 9 a.m. ET on the same day. The webcast and slide presentation will be accessible through Valvoline's Investor Relations website, with a replay available shortly after the call.
Valvoline Instant Oil Change has secured the 40th position in the Franchise Times Top 400, a comprehensive ranking of the largest U.S. franchise systems. This achievement is based on global systemwide sales from the previous year and reflects Valvoline's commitment to growing its franchise network and supporting its partners.
Valvoline Inc. (NYSE: VVV) franchises over half of its Valvoline Instant Oil Change locations in the United States. These service centers offer quick, stay-in-your-car oil changes in about 15 minutes, along with a range of preventive maintenance services including tire rotations and fluid and battery replacements.
CEO and President Lori Flees emphasized the company's dedication to providing high-quality support to franchise partners and offering an attractive investment opportunity for both new and existing partners.
Valvoline Inc. (NYSE: VVV) has announced the planned retirement of its Chief Financial Officer, Mary Meixelsperger. She will continue as CFO until a successor is hired and will remain with the company during the transition period. Valvoline has initiated a comprehensive search for a new CFO, considering both internal and external candidates.
CEO Lori Flees expressed gratitude for Meixelsperger's leadership and contributions, highlighting her role in building the company. Meixelsperger joined Valvoline in 2016, just before its successful IPO and spinoff from Ashland Global Holdings. She previously served as CFO for DSW Inc. and Shopko Stores, and currently serves on the board of directors for Genesco Inc. and the Cincinnati branch board of The Federal Reserve Bank of Cleveland.
Valvoline Inc. (NYSE: VVV) has reached a significant milestone by opening its 2,000th location under the Valvoline Instant Oil Change℠ and Great Canadian Oil Change brands in September 2024. This achievement marks progress towards the company's goal of expanding its network to 3,500 service centers across the United States and Canada.
The 2,000th location is a new, company-operated, two-bay service center in Centerville, Ohio, representing the sixth Valvoline Instant Oil Change location in the Dayton metro area. Valvoline Instant Oil Change has been recognized as the #1 automotive preventive maintenance service provider on Entrepreneur's Franchise 500® 2024 list and ranked #11 on Forbes' Best Customer Service list. Additionally, Valvoline's Great Canadian Oil Change brand secured the top spot in J.D. Power's Canadian Customer Service Index for aftermarket service facilities.