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Dec 31, 2020
Valvoline Q1 2021 Earnings Report
Valvoline's first quarter results were reported with net income and EPS growth, driven by strong performance in Quick Lubes and International segments.
Key Takeaways
Valvoline reported strong first-quarter results with an 8% increase in sales to $653 million. Net income grew by 19% to $87 million, and EPS increased by 21% to $0.47. Adjusted EBITDA also saw a significant rise of 21% to $145 million.
Net income increased by 19% to $87 million, with EPS growing by 21% to $0.47.
Adjusted diluted EPS increased by 17% and adjusted EBITDA grew by 21%.
Sales increased by 8% to $653 million.
Quick Lubes system-wide same-store sales grew by 6.0%.
Valvoline
Valvoline
Forward Guidance
Valvoline reaffirmed its full-year guidance, including low-double digit growth in adjusted EBITDA. Strong performance in Quick Lubes and International is expected to offset any short-term margin pressure from higher raw material costs.
Positive Outlook
- The company expects low-double digit growth in adjusted EBITDA for the full year.
- Strong performance in Quick Lubes is expected.
- International segment is expected to perform strongly.
- The company is focused on global growth.
- Valvoline aims to continue delivering durable growth and superior customer experience.
Challenges Ahead
- COVID-19 remains a headwind to miles driven.
- There may be short-term margin pressure from higher raw material costs.
- Future external events related to COVID-19 could significantly impact guidance.
- Additional state, regional, or country lockdown measures may occur.
- Significant changes in driving trends could impact guidance.