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Sep 30, 2023
Valvoline Q4 2023 Earnings Report
Valvoline reported strong Q4 2023 results, marking its first year as a pure-play retail business, with significant growth in sales, EPS, and adjusted EBITDA.
Key Takeaways
Valvoline Inc. reported a 16% increase in sales from continuing operations, reaching $390 million, and a 10.0% increase in system-wide same-store sales (SSS) for the fourth quarter. EPS increased by 657% to $0.53, and adjusted EPS increased by 86% to $0.39. The company added 48 net stores, bringing the total store count to 1,852.
Sales from continuing operations grew by 16% to $390 million, and system-wide SSS increased by 10.0%.
Reported EPS increased by 657% to $0.53, and adjusted EPS increased by 86% to $0.39.
Net store additions totaled 48, with 26 franchised and 22 company-operated stores.
System-wide store sales grew by 15% to $738.3 million.
Valvoline
Valvoline
Forward Guidance
Valvoline anticipates delivering results aligned with its long-term growth algorithm in fiscal year 2024, projecting top-line sales between $1.6 and $1.7 billion and adjusted EBITDA between $420 and $460 million. The company expects system-wide same-store sales growth of 6-9% and plans to add 140-170 stores to the network, with 55-70 coming from franchisees.
Positive Outlook
- Expected top-line sales of $1.6 - $1.7 billion.
- Anticipated adjusted EBITDA of $420 - $460 million.
- Projected system-wide same store sales growth of 6-9%.
- Plan to add 140-170 stores to the network.
- 55-70 new stores are expected to come from franchisees.