Exhibit 99.1
vvvlogo917.jpg
NEWS RELEASE

Valvoline Reports First-Quarter Results; Updates Full-Year Outlook
For the quarter, Valvoline Instant Oil Change (VIOC) delivers system-wide same-store sales (SSS) growth of 7.9 percent, Core North America premium mix increases 400 basis points and International volume, including unconsolidated joint ventures, grows 9 percent
Reported net loss of $10 million and loss per diluted share of $0.05
Adjusted earnings per share (EPS) of $0.29 and adjusted EBITDA of $108 million
Lubricant volume growth of 2 percent to 43.8 million gallons
VIOC system-wide SSS growth of 7.9 percent
Repurchased 1.6 million shares for $39 million; board authorizes $300 million in share repurchases
Increases full-year adjusted EPS guidance to $1.30-$1.38, which includes a lower adjusted effective tax rate of 27-28%, reflecting the benefits of tax reform

LEXINGTON, Ky., Feb. 7, 2018 – Valvoline Inc. (NYSE: VVV), a leading supplier of premium branded lubricants and automotive services, today reported financial results for its
first fiscal quarter ended Dec. 31, 2017.
Reported first-quarter 2018 net loss and diluted loss per share of $10 million and $0.05, respectively. These results include a provisional charge of $75 million ($0.37 per diluted share) related to recently enacted U.S. tax reform, after-tax income of $7 million ($0.03 per diluted share) related to non-service pension and other post-employment benefit (OPEB) income that is now classified as non-operating under early adopted new accounting guidance, and an after-tax charge of $1 million (negligible EPS impact) of separation-related expenses.
Reported net income and diluted earnings per share for first quarter 2017 of $72 million and $0.35, respectively, which includes after-tax income of $16 million ($0.08 per diluted share) related to non-operating pension and OPEB non-service income and remeasurement adjustments and an after-tax charge of $4 million ($0.02 per diluted share) of separation-related expenses.
Adjusted first-quarter net income, excluding the impact of tax reform, pension income and separation costs, was $59 million, compared to $60 million of adjusted net income in the prior year. (See Table 7 for reconciliation of adjusted net income.)

1

The following information was filed by Valvoline Inc (VVV) on Wednesday, February 7, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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