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Mar 31, 2021
Valvoline Q2 2021 Earnings Report
Valvoline's financial performance for Q2 2021 was reported, featuring increased sales and raised fiscal year guidance.
Key Takeaways
Valvoline reported a strong second quarter with sales growth of 21% reaching $701 million, driven by international and quick lubes performance. The company raised its full-year guidance for adjusted EBITDA to $590 million to $610 million and adjusted EPS to $1.72 to $1.82.
Net income increased by 8% to $68 million, with EPS growing by 12% to $0.37.
Adjusted EPS rose by 18% to $0.46, and adjusted EBITDA increased by 13% to $152 million.
Sales grew 21% to $701 million, propelled by strong performance in International and Quick Lubes segments.
Quick Lubes' system-wide same-store sales (SSS) grew by 20.2%.
Valvoline
Valvoline
Forward Guidance
Valvoline raises its fiscal 2021 guidance for adjusted EBITDA, overall sales growth, same-store sales growth, adjusted EPS and free cash flow.
Positive Outlook
- Sales growth 23 - 25%
- New Quick Lube store additions (includes company-operated, franchise and acquisitions) no change
- Quick Lubes system-wide same-store sales growth 18 - 20%
- Normalized same-store sales growth 9 - 11%
- Adjusted EBITDA $590 - $610 million