VALVOLINE INC
For the period ended Mar 31, 2024. Filed May 10, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
VVV$35.73-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Comprehensive Income
PART I - FINANCIAL INFORMATION
Condensed Consolidated Statements of Comprehensive Income
| Three months endedMarch 31 | Six months endedMarch 31 | |||
|---|---|---|---|---|
| (In millions, except per share amounts - unaudited) | 2024 | 2023 | 2024 | 2023 |
| Net revenues | $388.7 | $344.5 | $762.1 | $677.3 |
| Cost of sales | 242.5 | 217.8 | 481.1 | 431.8 |
| Gross profit | 146.2 | 126.7 | 281.0 | 245.5 |
| Selling, general and administrative expenses | 72.3 | 62.6 | 146.8 | 128.6 |
| Net legacy and separation-related expenses | — | 3.8 | 0.1 | 29.2 |
| Other income, net | (2.5) | (0.9) | (5.1) | (2.8) |
| Operating income | 76.4 | 61.2 | 139.2 | 90.5 |
| Net pension and other postretirement plan expenses | 3.6 | 3.6 | 7.0 | 7.3 |
| Net interest and other financing expenses | 15.5 | 13.3 | 29.1 | 32.0 |
| Income before income taxes | 57.3 | 44.3 | 103.1 | 51.2 |
| Income tax expense (benefit) | 14.0 | 11.4 | 25.9 | (8.7) |
| Income from continuing operations | 43.3 | 32.9 | 77.2 | 59.9 |
| (Loss) income from discontinued operations, net of tax | (1.9) | 1,194.4 | (3.9) | 1,249.3 |
| Net income | $41.4 | $1,227.3 | $73.3 | $1,309.2 |
| Net earnings per share | ||||
| Basic earnings (loss) per share | ||||
| Continuing operations | $0.33 | $0.19 | $0.59 | $0.35 |
| Discontinued operations | (0.01) | 6.96 | (0.03) | 7.20 |
| Basic earnings per share | $0.32 | $7.15 | $0.56 | $7.55 |
| Diluted earnings (loss) per share | ||||
| Continuing operations | $0.33 | $0.19 | $0.59 | $0.34 |
| Discontinued operations | (0.01) | 6.92 | (0.03) | 7.16 |
| Diluted earnings per share | $0.32 | $7.11 | $0.56 | $7.50 |
| Weighted average common shares outstanding | ||||
| Basic | 129.8 | 171.7 | 130.8 | 173.5 |
| Diluted | 130.7 | 172.7 | 131.7 | 174.5 |
| Comprehensive income | ||||
| Net income | $41.4 | $1,227.3 | $73.3 | $1,309.2 |
| Other comprehensive (loss) income, net of tax | ||||
| Currency translation adjustments | (2.5) | 29.3 | 4.1 | 44.5 |
| Amortization of pension and other postretirement plan prior service credits | (0.4) | (0.5) | (0.9) | (0.9) |
| Unrealized loss on cash flow hedges | (1.4) | (3.1) | (3.3) | (4.4) |
| Other comprehensive (loss) income | (4.3) | 25.7 | (0.1) | 39.2 |
| Comprehensive income | $37.1 | $1,253.0 | $73.2 | $1,348.4 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.