Valvoline reports Q4 adjusted EPS 46c, consensus 44c

Reports Q4 revenue $436M, consensus $431.58M. “During FY24 our more than 11,000 team members and strong franchise partners worked diligently to provide over 28 million services with the best possible customer experience to help our guests keep their cars safe and on the road,” said CEO Lori Flees. “FY24 was another year of compelling top and bottom-line growth with net sales increasing 12% and adjusted EBITDA growing 17%, while delivering our 18th consecutive year of system-wide same store sales growth. We continue to focus on accelerating our network growth, with an emphasis on franchising. Overall, we added 158 net stores to the network, with over half coming from ground-up builds. During Q4 we completed two refranchising transactions that converted 28 stores to franchise locations and we announced this morning that in early FY25, we signed a definitive agreement to refranchise an additional 38 stores. These transactions will enable us to accelerate the network and drive market share gains in a capital efficient manner, while delivering long-term value to our shareholders.”