The company continues its accelerated growth toward goal of 3,500 service centers
LEXINGTON, Ky., Oct. 3, 2024 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV), the quick, easy, trusted leader in preventive automotive maintenance, announces that in September it opened its 2,000th location under the Valvoline Instant Oil ChangeSM and Great Canadian Oil Change brands. This advances the Company's efforts to expand its network of services centers to 3,500 in the United States and Canada.
Valvoline Inc. (PRNewsfoto/Valvoline Inc.)
"I am proud that we are bringing our quick, easy, trusted service to more customers," said Lori Flees, Valvoline Inc. President and Chief Executive Officer. "We are well on our way to our target of opening 3,500 service centers across North America. Thank you to the teams at Valvoline and our franchise partners who are working to deliver this accelerated network growth."
The 2,000th location is a new, company-operated, two-bay service center located in Centerville, Ohio, and marks the sixth Valvoline Instant Oil Change location in the Dayton, Ohio, metro area. Information about the new location's services, wait times, and hours of operation can be found at vioc.com.
About Valvoline Inc. Valvoline Inc. (NYSE: VVV) is the quick, easy, trusted leader in automotive preventive maintenance. Valvoline Inc. is creating shareholder value by driving the full potential in our core business, accelerating network growth and innovating to meet the needs of customers and the evolving car parc. With approximately 2,000 service centers throughout North America, Valvoline Inc. and our franchise partners keep customers moving with our 4.6 out of 5 star* rated service that includes 15-minute stay-in-your-car oil changes; battery, bulb and wiper replacements; tire rotations; and other manufacturer recommended maintenance services. In fiscal year 2023, Valvoline's network delivered approximately 27 million services to generate $1.4 billion in revenue from $2.8 billion in system-wide store sales, marking 17 years of consecutive system-wide same-store sales growth. At Valvoline Inc., it all starts with our people, including our more than 10,000 team members and strong, long-standing franchise partners. We are proud to be an eleven-time winner of the BEST Award for training excellence and a top-rated franchisor in our category by Entrepreneur and Franchise Times. To learn more, or to find a service center near you, visit vioc.com.
Forward-Looking Statements Certain statements herein, other than statements of historical fact, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include, without limitation, executing on its growth strategy to create shareholder value by driving the full potential in the Company's core business, accelerating network growth and innovating to meet the needs of customers and the evolving car parc; realizing the benefits from the sale of Global Products; and future opportunities for the remaining stand-alone retail business; and any other statements regarding Valvoline's future operations, financial or operating results, capital allocation, debt leverage ratio, anticipated business levels, dividend policy, anticipated growth, market opportunities, strategies, competition, and other expectations and targets for future periods. Valvoline has identified some of these forward-looking statements with words such as "anticipates," "believes," "expects," "estimates," "is likely," "predicts," "projects," "forecasts," "may," "will," "should," and "intends," and the negative of these words or other comparable terminology. These forward-looking statements are based on Valvoline's current expectations, estimates, projections, and assumptions as of the date such statements are made and are subject to risks and uncertainties that may cause results to differ materially from those expressed or implied in the forward-looking statements. Additional information regarding these risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission (the "SEC"), including in the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Quantitative and Qualitative Disclosures about Market Risk" sections of Valvoline's most recently filed periodic reports on Forms 10-K and 10-Q, which are available on Valvoline's website at https://investors.valvoline.com/sec-filings or on the SEC's website at https://www.sec.gov. Valvoline assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future, unless required by law.
* Based on a survey of more than 900,000 Valvoline Instant Oil Change? customers annually ? Trademark, Valvoline Inc., or its subsidiaries, registered in various countries SM Service mark, Valvoline Inc., or its subsidiaries, registered in various countries ? Registered tradedmark owned by a third party
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Investor Inquiries Elizabeth B. Clevinger +1 (859) 357-3155 [email protected]
