VVV — what changed in the latest 10-Q

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

• •Net revenues grew 25% compared to the prior year period, primarily driven by network expansion of 331 net store additions, including the impact of acquisitions and dispositions. The increase was further supported by system-wide same-store sales ("SSS") growth of 8.2%, as well as favorable service m…

• •Income from continuing operations grew 18% to $45.3 million and Diluted earnings per share increased 17% to $0.35 compared to the prior year period. The increase was primarily driven by profit expansion from operations, partially offset by investments in Selling, general, and administrative expense…

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

• Net revenues are influenced by the number of service center stores and the business performance of those stores. Stores are considered open upon acquisition or opening for business. Temporary store closings remain in the respective store counts with only permanent store closures reflected in the act…

• (In millions)Amount% of Net revenuesAmount% of Net revenuesAmount% of Net revenuesAmount% of Net revenues

Text removed vs the prior filing · source: 10-Q · 2026-02-04

• •Valvoline’s net revenues grew 11% over the prior year period driven by continued network expansion of 335 net store additions to the system led by the Breeze acquisition. System-wide same-store sales ("SSS") growth of 5.8%, along with improvements in service mix and pricing, also contributed to the…

• •The Loss from continuing operations in the three months ended December 31, 2025 was $32.2 million and Diluted loss per share was $0.25 primarily driven by the pre-tax loss of $57.9 million on the Federal Trade Commission (“FTC”) required sale of 45 acquired Breeze stores following the acquisition c…

• Net revenues are influenced by the number of service center stores and the business performance of those stores. Stores are considered open upon acquisition or opening for business. Temporary store closings remain in the respective store counts with only permanent store closures reflected in the act…

• Gross profit increased $19.6 million, or 12.8%, for the three months ended December 31, 2025 compared to the prior year period. The increase was largely attributable to volume, cost efficiencies and pricing, as well as contributions from acquired stores. These benefits were partially offset by highe…

• Gross profit margin improved in the three months ended December 31, 2025 compared to the prior year period. The increase was primarily a result of improved costs from a decline in product costs and labor efficiency through enhanced demand planning and improved scheduling practices. These benefits we…

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

• 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…

• Substantial progress towards the remediation of the material weakness has been made through the remediation of the ITGC deficiencies in fiscal 2025 and the continued efforts to enhance business process controls.

• Management has made substantial progress with certain design assessment activities related to the business process controls that aggregate to the material weakness. Evaluation of the controls’ design and operating effectiveness is ongoing as of the quarter ended March 31, 2026. Remediation of the bu…

Text removed vs the prior filing · source: 10-Q · 2026-02-04

• Notwithstanding the conclusion that disclosure controls and procedures were not effective as of December 31, 2025 due to the material weakness, management continued performing additional analyses and other procedures, including certain enhanced manual procedures and controls intended to ensure the c…

• Substantial progress towards the remediation of the material weakness has been made through the remediation of the ITGC deficiencies in fiscal 2025 and the continued efforts to enhance business process controls. Remediation of the business process control design deficiencies that aggregate to the ma…

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

• During the three months ended March 31, 2026, no director or officer, as defined in Rule 16a-1(f), of Valvoline adopted or terminated any contract, instruction or written plan for the purchase or sale of the Company’s securities that was intended to satisfy the affirmative defense conditions of Rule…

Text removed vs the prior filing · source: 10-Q · 2026-02-04

• During the three months ended December 31, 2025, Mr. Jonathan L. Caldwell, the Company’s Senior Vice President and Chief People Officer, entered into a Rule 10b5-1 Trading Plan on December 1, 2025, for the sale of up to 3,834 shares of Valvoline common stock and to exercise up to 8,877 stock appreci…