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Mar 31, 2022
Valvoline Q2 2022 Earnings Report
Reported strong second-quarter results with sales growth and earnings per share increase.
Key Takeaways
Valvoline reported a strong second quarter with a 26% increase in sales to $886 million, driven by strong demand and pricing actions. Net income grew by 19% to $81 million, and earnings per diluted share increased by 22% to $0.45.
Net income increased 19% to $81 million, with EPS rising 22% to $0.45.
Adjusted EPS was flat at $0.48, while adjusted EBITDA improved 1% to $158 million.
Sales grew 26% to $886 million, fueled by robust demand and strategic pricing adjustments.
The company reaffirms full-year guidance for adjusted EBITDA of $675 to $700 million and adjusted EPS of $2.07 to $2.20.
Valvoline
Valvoline
Forward Guidance
The company is reaffirming its full-year profitability guidance despite a challenging supply chain and raw material environment.
Positive Outlook
- Share gains
- Pricing actions
- Superior execution
- Quality of business
- Strong pricing power
Challenges Ahead
- Challenging supply chain
- Raw material environment
- Unable to reconcile forward-looking non-GAAP financial measures to the comparable GAAP measures estimated for fiscal 2022 without unreasonable efforts
- Currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact these GAAP measures in fiscal 2022 but would not impact non-GAAP adjusted results.
- Adjusted effective tax rate no change 24—25%