Loading...
•
Dec 31, 2023
Valvoline Q1 2024 Earnings Report
Valvoline reported first quarter results, delivering system-wide SSS growth and store additions.
Key Takeaways
Valvoline Inc. reported a strong start to fiscal year 2024 with a 12% increase in sales from continuing operations, driven by a 7.1% system-wide same-store sales growth. The company added 38 stores and repurchased over $170 million of its stock.
Sales from continuing operations grew by 12% to $373 million, driven by a 7.1% system-wide same-store sales growth.
Reported income from continuing operations increased by 26%, with EPS rising by 73% to $0.26.
Adjusted EBITDA from continuing operations grew by 23% to $90 million, and adjusted EPS increased by 81% to $0.29.
The company added 38 stores (19 franchised and 19 company-operated), bringing the total system-wide store count to 1,890.
Valvoline
Valvoline
Forward Guidance
Valvoline is on track with its full-year guidance, focusing on maximizing the potential of its existing business, accelerating network growth, and expanding services to meet customer needs.