Valvoline reports Q4 adjusted EPS 39c, consensus 41c

Reports Q4 continuing operations revenue $390M, consensus $388.81M. “FY23 was a transformational year for Valvoline as it was our first year as a pure-play retail business,” said Lori Flees, CEO. “Our system-wide store sales grew nearly 20% to $2.8 billion driven by an 11.9% increase in system-wide same-store sales.” “On top of delivering strong top and bottom-line growth for the year, we completed the sale of Global Products, returned $1.5B to shareholders through share repurchases and completed a leadership transition. With our transition to a pure-play retail services provider complete, we believe we are well positioned for long-term shareholder value creation by growing our core business, adding to the network and expanding services for an evolving car parc.”