VVV — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-05

• •During the quarter, the lubricant cost environment became more dynamic as industry supply conditions tightened for certain lubricant products. The Company leveraged its scale, supplier relationships and pricing actions to maintain product availability and support profitability throughout the quarte…

• For the nine months ended June 30, 2026, Net revenues increased $253.7 million, or 20.2% compared to the prior year, primarily driven by network expansion, including the Breeze acquisition and other store openings, which

• increased the system-wide store base. System-wide SSS revenue grew 7.4%, reflecting the benefits of pricing actions, continued growth in premiumization, and higher transaction volumes. These favorable impacts were partially offset by lower revenues associated with disposition activity. The following…

• Gross profit increased $37.3 million, or 21.0%, for the three months ended June 30, 2026 compared to the prior year period driven by contributions from acquired stores and network growth. These increases were partially offset by higher expenses associated with network expansion, including labor, dep…

• Gross profit margin declined 1.0% in the three months ended June 30, 2026 compared to the prior year period, primarily reflecting higher store operating expenses, including depreciation and occupancy costs associated with network expansion and acquisitions, as well as higher labor, and other service…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• considered as supplements to, not substitutes for, Valvoline's net revenues and operating income, as determined in accordance with U.S. GAAP.

• For the six months ended March 31, 2026, Net revenues increased $148.1 million, or 18.1% compared to the prior year, driven primarily by network growth, including the Breeze acquisition, as well as improvements in service mix and pricing. System-wide SSS revenue grew 7.0%, reflecting higher average …

• Gross profit increased $36.5 million, or 24.3%, for the three months ended March 31, 2026 compared to the prior year period driven by contributions from acquired stores and service mix. These increases were partially offset by higher expenses associated with network expansion, including depreciation…

• Gross profit margin declined slightly in the three months ended March 31, 2026 compared to the prior year period, primarily reflecting higher store operating expenses, including depreciation related to new store growth, the impact of recent dispositions, and higher labor and other service delivery c…

• Gross profit improved $56.1 million, or 18.5%, for the six months ended March 31, 2026 compared to the prior year period, primarily driven by volume growth, including contributions from acquired stores, service mix, and pricing. These increases were partially offset by higher expenses associated wit…

Text added vs the prior filing · source: 10-Q · 2026-08-05

• Notwithstanding the conclusion that disclosure controls and procedures were not effective as of June 30, 2026 due to the material weakness, management continued performing additional analyses and other procedures, including certain enhanced manual procedures and controls intended to ensure the conde…

• As previously disclosed, the Company completed the acquisition of Breeze on December 1, 2025, and is currently in the process of integrating Breeze’s operations, control processes and information systems into the Company’s systems and control environment. As permitted by SEC Staff’s general guidance…

• Other than as described below with respect to the material weakness remediation efforts, there have been no significant changes in Valvoline’s internal control over financial reporting that occurred during the fiscal quarter ended June 30, 2026 that materially affected, or are reasonably likely to m…

• September 30, 2025, the material weakness continued to exist with respect to the aggregation of deficiencies in the design of business process controls, as of June 30, 2026.

• Management continues to make meaningful progress in the remediation of the business process control deficiencies that aggregate to the material weakness. As of June 30, 2026, management had substantially completed its assessment of control design1, and is continuing to assess the operating effective…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• The Company completed the acquisition of Breeze on December 1, 2025 as described herein in Note 3 of the Notes to Condensed Consolidated Financial Statements. The scope of management’s assessment of the effectiveness of the Company’s disclosure controls and procedures did not include the internal co…

• Notwithstanding the conclusion that disclosure controls and procedures were not effective as of March 31, 2026 due to the material weakness, management continued performing additional analyses and other procedures, including

• certain enhanced manual procedures and controls intended to ensure the condensed consolidated financial statements included in this Quarterly Report on Form 10-Q are fairly presented in all material respects. The material weakness did not result in any identified material misstatements in the curren…

• As a result of the Breeze acquisition, the Company has incorporated internal controls over significant processes specific to the acquisition that management believes are appropriate and necessary in consideration of the level of related integration. As the post-closing integration continues, the Com…

• Other than as described above with respect to the Breeze acquisition and the remediation efforts discussed below, there have been no significant changes in Valvoline’s internal control over financial reporting that occurred during the fiscal quarter ended March 31, 2026 that materially affected, or …