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Jun 30, 2024
Valvoline Q3 2024 Earnings Report
Valvoline's third quarter of fiscal year 2024 resulted in a 12% increase in top-line growth, a 6.5% increase in system-wide SSS growth, and the addition of 33 stores. The company also announced the refranchising of 17 stores.
Key Takeaways
Valvoline Inc. reported a 12% increase in sales, driven by a 6.5% system-wide same-store sales growth. The company added 33 new stores and refranchised 17 stores.
Sales from continuing operations grew by 12% to $421 million, driven by a 6.5% system-wide same-store sales growth.
Income from continuing operations decreased by 25% to $48 million, with EPS decreasing by 8% to $0.37.
Adjusted EBITDA from continuing operations increased by 12% to $123 million, and adjusted EPS increased by 5% to $0.45.
The company added 33 new stores, bringing the total system-wide store count to 1,961, and refranchised 17 stores.
Valvoline
Valvoline
Forward Guidance
Valvoline expects to perform in line with expectations. They are trending at or slightly below the midpoint of their adjusted EBITDA and adjusted EPS guidance including the modest impacts of refranchising.