Exhibit 99.1
vvvlogo917a02.jpg
NEWS RELEASE

Valvoline Reports Third-Quarter Fiscal 2018 Results
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 470 basis points and International volume grows 1 percent, including unconsolidated joint ventures, with a 9 percent increase in the high-growth emerging markets of China and India
Reported net income of $64 million and earnings per diluted share (EPS) of $0.33
Adjusted EPS grew 10% to $0.32, while adjusted EBITDA grew 3% to $115 million
Sales grew 8% to $577 million while lubricant volume was flat at 46.0 million gallons
VIOC system-wide SSS grew 7.9%
Repurchased 4.6 million shares for $98 million
Updates adjusted EBITDA guidance to $465-$470 million and adjusted EPS guidance to $1.26-$1.31
LEXINGTON, Ky., Aug. 1, 2018 – Valvoline Inc. (NYSE: VVV), a leading supplier of premium branded lubricants and automotive services, today reported financial results for its
third fiscal quarter ended June 30, 2018.
Reported third-quarter 2018 net income and EPS were $64 million and $0.33, respectively. These results included after-tax income of $7 million ($0.04 per diluted share) related to non-service pension and other post-employment benefit (OPEB) income and after-tax expenses of $2 million ($0.01 per diluted share) related to a foreign currency adjustment in connection with the Great Canadian Oil Change acquisition and $3 million ($0.02 per diluted share) primarily related to Kentucky state tax reform.
Reported third-quarter 2017 net income and EPS were $56 million and $0.27 respectively, which included after-tax income of $10 million ($0.05 per diluted share) related to non-service pension and OPEB income and after-tax expenses of $13 million ($0.07 per diluted share) for legacy and other separation-related costs.
Adjusted third-quarter 2018 net income and adjusted EPS were $62 million and $0.32, respectively, compared to adjusted net income of $59 million and adjusted EPS of $0.29 in the prior year period. (See Table 7 for reconciliation of adjusted net income and adjusted EPS.)

1

The following information was filed by Valvoline Inc (VVV) on Wednesday, August 1, 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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