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Valvoline Inc (VVV) SEC Filing 10-K Annual Report for the fiscal year ending Thursday, September 30, 2021

Valvoline Inc

CIK: 1674910 Ticker: VVV

Exhibit 99.1
vvvlogo917a01.jpg
PRESS RELEASE


Valvoline Reports Fourth-Quarter and Fiscal Year 2021 Results; Reiterates Plan to Pursue Separation; Provides Fiscal 2022 Outlook
Full-year highlights
Reported net income of $420 million grew 32% and earnings per diluted share (EPS) of $2.29 increased 36%
Adjusted EPS of $1.95 increased 37% and adjusted EBITDA of $634 million improved 28%
Sales grew 27% to $3 billion; Retail Services sales increased 38% and Global Products sales increased 20%
Retail Services system-wide same-store sales (SSS) increased 21.2%, net system-wide unit additions of 9%, operating income growth of 54%; adjusted EBITDA margin was 31.3%
Global Products delivered volume growth of 16%, operating income growth of 5%; adjusted EBITDA margin was 18.6%
Retail Services represented 41% of total sales and 54% of total segment adjusted EBITDA
Company recently announced plan to accelerate its continued transformation by pursuing separation of its two business segments, Retail Services and Global Products

Fourth-quarter summary
Reported net income of $168 million grew 38% and EPS of $0.92 increased 39%
Adjusted EPS of $0.50 improved 11% and adjusted EBITDA of $155 million increased 5%
Sales grew 28% to $835 million; Retail Services sales increased 39% and Global Products sales increased 21%
Retail Services system-wide SSS increased 20.1%

LEXINGTON, Ky., November 3, 2021 – Valvoline Inc. (NYSE: VVV), a global leader in vehicle care powering the future of mobility through innovative services and products, today reported financial results for its fourth quarter and fiscal year ended September 30, 2021. All comparisons in this press release are made to the same prior-year period; however,
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The following information was filed by Valvoline Inc (VVV) on Wednesday, November 3, 2021 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 Cash Flows (Parenthetical)
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 - China Credit Facility (Details)
Debt - Schedule Of Long Term Debt (Details)
Debt - Senior Credit Agreement (Details)
Debt - Senior Notes (Details)
Debt - Trade Receivables Facility (Details)
Debt Debt - Schedule Of Maturities Of Long-Term Debt (Details)
Description Of Business And Basis Of Presentation
Description Of Business And Basis Of Presentation (Details)
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 - 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
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)
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
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 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 Balance Sheet Information
Supplemental Balance Sheet Information (Tables)
Supplemental Balance Sheet Information - Cash, Cash Equivalents And Restricted Cash (Details)
Supplemental Balance Sheet Information - Inventory (Details)
Supplemental Balance Sheet Information - Narrative (Details)
Supplemental Balance Sheet Information - Property, Plant, And Equipment (Details)
Supplemental Balance Sheet Information - Summary Of Accounts Receivable (Details)
Ticker: VVV
CIK: 1674910
Form Type: 10-K Annual Report
Accession Number: 0001674910-21-000136
Submitted to the SEC: Fri Nov 19 2021 5:01:24 PM EST
Accepted by the SEC: Fri Nov 19 2021
Period: Thursday, September 30, 2021
Industry: Miscellaneous Products Of Petroleum And Coal

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