Valvoline Reports Strong Financial Results for Fiscal Year 2024

Valvoline Inc., a leader in preventive automotive maintenance, has announced impressive financial results for its fiscal year ended September 30, 2024. The company reported sales of $1.6 billion and system-wide store sales of $3.1 billion, both growing by 12%. This marks the 18th consecutive fiscal year of system-wide same-store sales growth for Valvoline.

Fiscal Year Highlights

Sales from continuing operations reached $1.6 billion, showing a 12% increase driven by a system-wide same-store sales growth of 6.7%. Valvoline also saw a nearly 9% increase in store count year over year, bringing the total to 2,010 locations. Reported income from continuing operations grew by 8% to $215 million, with earnings per diluted share (EPS) increasing by 33% to $1.63. Continuing operations adjusted EBITDA increased by 17% to $443 million, with an improved EBITDA margin of 27.3%.

Fourth Quarter Summary

In the fourth quarter of fiscal year 2024, Valvoline reported sales of $436 million, driven by a system-wide same-store sales growth of 5.4%. Reported income from continuing operations increased by 19% to $89 million, with EPS increasing by 26% to $0.68. Continuing operations adjusted EBITDA also saw growth, increasing by 14% to $124 million. During the quarter, Valvoline added 49 new stores and refranchised a total of 28 stores.

Future Outlook

Subsequent to the end of the quarter, Valvoline signed a definitive agreement to refranchise an additional 38 stores. This transaction is expected to close during the first quarter of fiscal year 2025. Overall, Valvoline remains committed to delivering strong financial performance and providing exceptional service to customers.

Impact on Consumers

As a consumer, the strong financial results reported by Valvoline indicate the company’s stability and growth within the automotive maintenance industry. This can lead to improved service offerings and continued convenience for customers.

Global Impact

Valvoline’s success in fiscal year 2024 signals positive growth within the automotive maintenance sector, contributing to the overall economic landscape. As a trusted leader in preventive maintenance, Valvoline’s financial performance can inspire confidence in the industry as a whole.

Conclusion

Valvoline’s strong financial results for fiscal year 2024 demonstrate the company’s resilience and continued growth within the automotive maintenance sector. With consecutive years of same-store sales growth and strategic initiatives in place, Valvoline is poised for future success in delivering top-notch service to customers worldwide.