Valvoline realigns its business segments, announces a $300 million share repurchase authorization and hosts an investor call on May 19
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LEXINGTON, Ky., May 18, 2021 /PRNewswire/ Valvoline Inc. (NYSE: VVV), a leading provider of automotive services and premium branded lubricants, today announced the realignment of its global operations, including updated business segments, a new approach for allocating indirect expenses and for reporting last-in-first-out (LIFO) inventory accounting adjustments. Valvoline will host a call tomorrow, May 19, at 9 am ET to discuss these changes, including recast fiscal 2021 guidance, as well as enhancements to its capital allocation framework and growth projections through 2024 for the business and its realigned segments.
Valvoline realigns its business segments, announces a $300 million share repurchase authorization and hosts an investor call on May 19 prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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LEXINGTON, Ky., April 28, 2021 /PRNewswire/ Valvoline Inc. (NYSE: VVV), a leading supplier of premium branded lubricants and automotive services, today reported financial results for its second fiscal quarter ended March 31, 2021. All comparisons in this press release are made to the same prior-year period unless otherwise noted. We continue to see healthy demand and loyalty to our brand from consumers and customers, said Sam Mitchell, CEO of Valvoline. Quick Lubes had record 20% system-wide same-store sales growth and improved margins for the quarter, and International saw robust volume, top-line and earnings growth. Core North America generated top-line growth and continued to provide significant operating cash flow. This strong cash generation is a key component of our strategic transformation to a more service-driven company by funding our growth initiatives in Quick Lubes and International.
Valvoline Reports Second-Quarter Results, Raises Fiscal 2021 Guidance prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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LEXINGTON, Ky., April 27, 2021 /PRNewswire/ Valvoline Inc. (NYSE: VVV), a leading worldwide supplier of premium branded lubricants and automotive services, announced today that it has signed a definitive agreement with its franchisee AWC Premium Automotive Service Ltd. to acquire 16 franchise-owned Valvoline Instant Oil Change
SM (VIOC) quick-lube service centers located in metro Dallas and east Texas. The acquisition is expected to close during the third quarter of fiscal 2021. Financial terms for the acquisition were not disclosed. A core element of Valvoline s business strategy is to continue to grow and strengthen our industry-leading quick-lube network through organic store expansion and high-quality acquisitions in our core and new markets, said Tony Puckett, senior vice president and president, Valvoline Quick Lubes. Bill Cavalle, owner of AWC Premium Automotive Service Ltd., has been instrumental in establishing the Valvoline b