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Valvoline Inc (VVV) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, September 30, 2020

Valvoline Inc

CIK: 1674910 Ticker: VVV

Exhibit 99.1

vvvlogo917a011a.jpg
NEWS RELEASE

Valvoline Reports Strong Fourth-Quarter and Fiscal Year 2020 Results; Provides Fiscal 2021 Outlook
Fourth-quarter summary
Reported net income of $122 million increased $95 million and earnings per diluted share (EPS) of $0.66 increased $0.52
Adjusted diluted EPS grew 15% to $0.46
Adjusted EBITDA of $150 million, up 16%
Sales grew 4% to $652 million, while lubricant volume declined slightly to 46.2 million gallons
Valvoline Instant Oil Change (VIOC) system-wide same-store sales (SSS) grew 8.3%
Cash and cash equivalents on hand of $760 million and total available liquidity of just over $1.3 billion as of Sept. 30, 2020
Full-year highlights
Reported net income of $317 million increased $109 million and EPS of $1.69 increased $0.59
Adjusted diluted EPS grew 6% to $1.48
Adjusted EBITDA of $510 million, up 7%
Sales declined 2% to $2.35 billion, while lubricant volume declined 6% to 168.0 million gallons
VIOC system-wide SSS grew 2.3%, the 14th consecutive year of SSS growth

LEXINGTON, Ky., October 28, 2020 – 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, 2020. All comparisons in this press release are made to the same prior-year period unless otherwise noted.

“During the pandemic, our focus has remained on the health and safety of our employees, customers and business partners,” said CEO Sam Mitchell. “Our strong performance in Q4 continues to demonstrate the durability of our business and the tremendous efforts of the entire
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The following information was filed by Valvoline Inc (VVV) on Wednesday, October 28, 2020 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.

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Inside Valvoline Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Stockholders' Deficit
Consolidated Statements Of Stockholders' Deficit (Parenthetical)
Acquisitions And Divestitures
Acquisitions And Divestitures (Tables)
Acquisitions And Divestitures - Narrative (Details)
Acquisitions And Divestitures - Schedule Of Aggregate Cash Consideration And Total Assets Acquired And Liabilities Assumed (Details)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Long Term Debt (Details)
Debt Debt - Schedule Of Maturities Of Long-Term Debt (Details)
Description Of Business And Basis Of Presentation
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Narrative (Details)
Employee Benefit Plans - Pension And Other Postretirement Benefit Costs (Details)
Employee Benefit Plans - Schedule Of Amortization Of Prior Service Cost (Credit) Recognized In Aoci (Details)
Employee Benefit Plans - Schedule Of Change In Benefit Obligations (Details)
Employee Benefit Plans - Schedule Of Fair Values Of Plan Assets By Investment Category (Details)
Employee Benefit Plans - Schedule Of Future Benefit Payments (Details)
Employee Benefit Plans - Schedule Of Investments Measured At Fair Value Using Nav Per Share (Details)
Employee Benefit Plans - Schedule Of Level 3 Investments (Details)
Employee Benefit Plans - Schedule Of Pension Plans With A Benefit Obligation In Excess Of Plan Assets (Details)
Employee Benefit Plans - Schedule Of Weighted-Average Asset Allocations (Details)
Equity Method Investments
Equity Method Investments (Tables)
Equity Method Investments - Narrative (Details)
Equity Method Investments - Summarized Financial Information (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Fair Value Of Debt (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Schedule Of Assets And Liabilities At Fair Value (Details)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (Tables)
Goodwill And Other Intangibles - Actual And Estimated Amortization Expense (Details)
Goodwill And Other Intangibles - Schedule Of Finite-Lived Intangible Assets (Details)
Goodwill And Other Intangibles - Summary Of Goodwill (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Income Before Income Taxes And Reconciliation Of Statutory Federal Income Tax (Details)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Gross Unrecognized Tax Benefits (Details)
Income Taxes - Schedule Of Income Tax Expense (Details)
Lease Commitments
Lease Commitments (Tables)
Lease Commitments - Future Minimum Rental Payments Before Adoption (Details)
Lease Commitments - Schedule Of Future Lease Payments For Operating And Finance Leases After Adoption (Details)
Lease Commitments - Schedule Of Lease Balances On The Balance Sheet (Details)
Lease Commitments - Schedule Of Lease Costs (Details)
Lease Commitments - Schedule Of Other Information Related To Leases (Details)
Lease Commitments - Schedule Of Weighted Average Remaining Lease Term And Interest Rates (Details)
Litigation, Claims And Contingencies
Quarterly Financial Information (Unaudited) (Details)
Quarterly Financial Information (Unaudited) (Tables)
Reportable Segment Information
Reportable Segment Information (Tables)
Reportable Segment Information - Disaggregation Of Revenue (Details)
Reportable Segment Information - Financial Information By Segment (Details)
Reportable Segment Information - Narrative (Details)
Reportable Segment Information - Sales And Property, Plant And Equipment By Geographical Area (Details)
Reportable Segment Information - Sales By Geography As A Percentage Of Consolidated Sales (Details)
Reportable Segment Information - Sales By Product Category (Details)
Restructuring Activities
Restructuring Activities (Tables)
Restructuring Activities - Narrative (Details)
Restructuring Activities - Schedule Of Restructuring Activity (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Narrative (Details)
Stock-Based Compensation Plans (Tables)
Stock-Based Compensation Plans - Narrative (Details)
Stock-Based Compensation Plans - Schedule Of Nonvested Stock Award Activity (Details)
Stock-Based Compensation Plans - Schedule Of Performance Award Activity (Details)
Stock-Based Compensation Plans - Schedule Of Sars Activity (Details)
Stock-Based Compensation Plans - Schedule Of Stock-Based Compensation Expense (Details)
Stock-Based Compensation Plans - Summary Of Fair Value Assumptions Used For Share Based Awards (Details)
Stockholders' Deficit
Stockholders' Deficit (Tables)
Stockholders' Deficit - Other Comprehensive Income (Loss) (Details)
Stockholders' Deficit - Schedule Of Reclassifications From Accumulated Other Comprehensive Income (Details)
Subsequent Events
Subsequent Events (Details)
Supplemental Financial Information
Supplemental Financial Information (Details)
Supplemental Financial Information (Details)
Supplemental Financial Information (Details)
Supplemental Financial Information (Tables)
Supplemental Financial Information - Transactions With Ashland (Details)
Ticker: VVV
CIK: 1674910
Form Type: 10-K Annual Report
Accession Number: 0001674910-20-000221
Submitted to the SEC: Tue Nov 24 2020 5:01:23 PM EST
Accepted by the SEC: Tue Nov 24 2020
Period: Wednesday, September 30, 2020
Industry: Miscellaneous Products Of Petroleum And Coal

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