LEXINGTON, Ky., - Valvoline Inc. (NYSE: VVV), the quick, easy, trusted leader in preventive automotive maintenance, today reported financial results for its second quarter of fiscal 2024, which ended March 31, 2024. All comparisons in this press release are made to the same prior-year period unless otherwise noted.

* Delivers 7.7% system-wide SSS growth and 38 net store additions

* Sales from continuing operations of $389 million grew 13%, driven by system-wide same store sales (SSS) growth of 7.7%

* Reported income from continuing operations of $43 million grew 32% and earnings per diluted share (EPS) of $0.33 increased 74%

* Continuing operations adjusted EBITDA of $105 million increased 21% and adjusted EPS of $0.37 increased 61%

* Net store additions in the quarter totaled 38 (14 franchised and 24 company-operated) bringing total system-wide stores to 1,928

* Updating guidance to narrow the range for certain key metrics

'The second quarter saw growth of 7.7% in system-wide same-store sales, while adjusted EBITDA increased 21%,' said Lori Flees, President & CEO. 'We delivered network growth of 38 net store additions this quarter, 14 of which came from our franchise partners.'

Flees continued, 'We also repurchased $40 million of shares in the second quarter which completes the $1.6 billion share repurchase authorization. This fulfills our commitment to return a substantial amount of the net proceeds from the sale of the Global Products business to shareholders.'

Continuing Operations - Operating Results

See full release at:

https://mediaroom.valvoline.com/2024-05-08-Valvoline-Inc-Reports-Second-Quarter-Results

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