Valvoline Reports Fourth-Quarter and Fiscal Year 2019 Results
•Reported net income of $27 million and earnings per diluted share (EPS) of $0.14
•Adjusted EPS grew 18% to $0.40
•Adjusted EBITDA of $129 million, up 7%
•Sales grew 6% to $629 million, while lubricant volume was flat at 46.4 million gallons
•Valvoline Instant Oil Change system-wide same-store sales grew 10.0%
•Reported net income of $208 million and EPS of $1.10
•Adjusted EPS grew 8% to $1.39
•Adjusted EBITDA of $478 million, up 3%
•Sales grew 5% to $2.4 billion, while lubricant volume declined 2% to 178.4 million gallons
•Valvoline Instant Oil Change (VIOC) system-wide same-store sales (SSS) grew 10.1%
LEXINGTON, Ky., Nov. 6, 2019 – Valvoline Inc. (NYSE: VVV), a leading supplier of premium branded lubricants and automotive services, today reported financial results for its fourth quarter and fiscal year ended September 30, 2019.
“We are pleased with the strong results in the fourth quarter, which exceeded our expectations,” CEO Sam Mitchell said. "Quick Lubes' momentum continued, highlighted by 10 percent system-wide same-store sales growth. Core North America saw its highest quarterly EBITDA results of the year, benefiting from lower than anticipated costs and operating expenses."
Reported fourth-quarter 2019 net income and EPS were $27 million and $0.14, respectively, compared to reported fourth-quarter 2018 net income and EPS of $45 million and $0.23, respectively. Fourth-quarter 2019 adjusted net income and adjusted EPS were $75 million and
The following information was filed by Valvoline Inc (VVV) on Wednesday, November 6, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.