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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 announced the winners of its 30th Oilympics competition, held in Lexington, Kentucky. The U.S. team from Valvoline Instant Oil Change in Lexington, Kentucky, and the Canada team from Great Canadian Oil Change in East Gwillimbury, Ontario, took top honors.
The U.S. team included Dean Hadi, Enzo Addondante, PJ Pettyjohn, and Chase Bablitz, while the Canadian team comprised Jay Dobariya, Jay Malaviya, Austin Pompeo, and Marco Aviles.
The Oilympics saw 39 regional teams from the U.S. and Canada compete to perform a perfect quick lube service in the shortest time, with quality of service determining the winners. The competition is a long-standing tradition since 1994, involving over 1,900 service centers in North America.
Valvoline (NYSE: VVV) announces the 30th annual Oilympics competition in Lexington, Kentucky, on June 11, 2024. This event highlights the top talent in automotive preventive maintenance, with 39 regional teams from the U.S. and Canada competing. Originating in 1994, the competition now includes over 1,900 service centers. Competitors will undergo Valvoline's SuperPro™ process, focusing on both speed and quality. Winners will receive gold, silver, and bronze medals, with additional awards for the most valuable player and best overall service experience.
Valvoline Inc. reported strong second-quarter results with system-wide same-store sales growth of 7.7%, $389 million in sales, and 38 net store additions. The company saw a 13% revenue increase, 32% growth in income from continuing operations, and a 74% rise in earnings per diluted share. Adjusted EBITDA grew by 21% and adjusted EPS by 61%. Valvoline also repurchased $40 million of shares in the quarter, completing a $1.6 billion repurchase authorization.
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