Valvoline Stock Price, News & Analysis

Valvoline Inc. reported a net income of $99 million and EPS of $0.55 for Q3, marking a 2% and 4% increase, respectively. Sales surged by 21% to $957 million driven by strong demand across its segments. The company signed an agreement to sell its Global Products business to Aramco for $2.65 billion, with expectations of net proceeds of $2.25 billion. Full-year guidance for adjusted EBITDA is updated to $670 million to $680 million.

Valvoline has announced a definitive agreement to sell its Global Products business to Aramco for $2.65 billion. This strategic move aims to transform Valvoline into a pure automotive service provider, targeting over 20% earnings per share (EPS) growth. For fiscal Q3 2022, Valvoline reported preliminary revenue of $957 million with a diluted EPS of $0.55. The proceeds from the sale will be used to return capital to shareholders, reduce debt, and invest in the Retail Services business, which is projected to generate $1.5 billion in sales for fiscal 2022.

Valvoline Inc. (NYSE: VVV) plans to announce its fiscal third-quarter financial results after market close on August 3, 2022. A live audio webcast for analysts and investors is scheduled for 9 a.m. ET on August 4, 2022. The results will cover the company's performance in vehicle care and innovative products across various powertrains. Valvoline's established brand and extensive service network, consisting of 1,600 service center locations in the U.S. and Canada, position it strongly within the automotive solutions market.

On July 20, 2022, Valvoline Inc. (NYSE: VVV) declared a quarterly cash dividend of $0.125 per share. This dividend will be payable on September 15, 2022, to shareholders on record as of the close of business on August 31, 2022. Valvoline continues to enhance its position in the vehicle care market, providing innovative products and services globally. The company operates around 1,600 service center locations and is recognized as a leader in battery fluids for electric vehicles, indicating its commitment to future mobility solutions.

Valvoline Inc. (NYSE: VVV) has opened its first Company-owned heavy-duty fleet service center in Lexington, Kentucky, marking a significant expansion in its service strategy. This center caters to Class 5-8 vehicles, adapting its proven light-duty vehicle service model for heavy-duty maintenance. With an estimated $8 billion annual market opportunity for fleet maintenance in the U.S., Valvoline aims to provide quick, efficient services including preventive maintenance and inspections, completing tasks in 75 minutes or less. Valvoline continues to commit to comprehensive vehicle care for all types of vehicles.

Valvoline (NYSE: VVV) has entered a multi-year sponsorship agreement with Honda Indy Toronto, set for July 15-17, 2022. This partnership aims to enhance Valvoline's brand presence in Canada and celebrate its rich motorsports heritage. The sponsorship includes prominent Valvoline branding at the venue and interactive experiences for attendees. Valvoline operates around 1,600 service centers and is recognized as a leader in vehicle care products, catering to diverse vehicle types globally. This event reinforces Valvoline's commitment to motorsports and community engagement.

Valvoline Inc. (NYSE: VVV) has acquired the remaining 50% interest in VCA Solutions, a distributor of automotive batteries, effective May 1, 2022. This acquisition positions Valvoline to enhance customer service at Valvoline Instant Oil Change and other service centers, meeting the growing demand for battery solutions alongside oil changes. With nearly 290 million vehicles in the U.S. utilizing lead-acid batteries, the acquisition expands Valvoline’s product offerings, including services for hybrid and electric vehicles, thus aligning with future mobility trends.

Valvoline reported a net income of $81 million, up 19%, with earnings per diluted share (EPS) increasing 22% to $0.45. Sales rose 26% to $886 million, driven by retail services and global product demand. Retail Services sales grew 23%, aided by a 13.1% same-store sales increase, while Global Products saw a 29% increase. The company returned $57 million to shareholders through dividends and share repurchases and reiterated its full-year adjusted EBITDA guidance of $675 to $700 million and adjusted EPS of $2.07 to $2.20.

Valvoline Inc. (NYSE: VVV) has appointed Jennifer Slater as an independent director to its Board of Directors effective July 1, 2022. Slater brings over 25 years of global leadership experience in the automotive industry, currently serving as Group VP at Clarios. She is expected to enhance Valvoline's strategic goals and insights into evolving vehicle trends. Stephen Kirk, the former chairman, will retire on June 30, 2022, after leading the company's transformation towards a more services-driven model. Valvoline continues to separate its Global Products and Retail Services business segments.