Reports Q2 revenue $389M, consensus $390.81M. “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.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VVV:
- Valvoline Inc. Reports Second Quarter Results
- Valvoline Stock (NYSE:VVV): This Boring Company Offers Exciting Upside
- Valvoline Inc. Announces Expiration and Results of Cash Tender Offer for Any and All of Its Outstanding 4.250% Senior Notes Due 2030
- Valvoline initiated with a Buy at Mizuho
- Valvoline Inc. Announces Commencement of Cash Tender Offer for Any and All of Its Outstanding 4.250% Senior Notes Due 2030
Questions or Comments about the article? Write to editor@tipranks.com