VALVOLINE INC
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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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.
Jun 30, 2024 · Filed Aug 7, 2024
VVV$35.73-0.9%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Comprehensive Income
PART I - FINANCIAL INFORMATION
Condensed Consolidated Statements of Comprehensive Income
| Three months endedJune 30 | Nine months endedJune 30 | |||
|---|---|---|---|---|
| (In millions, except per share amounts - unaudited) | 2024 | 2023 | 2024 | 2023 |
| Net revenues | $421.4 | $376.2 | $1,183.5 | $1,053.5 |
| Cost of sales | 253.9 | 225.5 | 735.0 | 657.3 |
| Gross profit | 167.5 | 150.7 | 448.5 | 396.2 |
| Selling, general and administrative expenses | 77.2 | 65.6 | 224.0 | 194.2 |
| Net legacy and separation-related expenses | 0.1 | 1.6 | 0.2 | 30.8 |
| Other income, net | (3.2) | (3.0) | (8.3) | (5.8) |
| Operating income | 93.4 | 86.5 | 232.6 | 177.0 |
| Net pension and other postretirement plan expenses | 3.4 | 3.7 | 10.4 | 11.0 |
| Net interest and other financing expenses (income) | 24.8 | (4.6) | 53.9 | 27.4 |
| Income before income taxes | 65.2 | 87.4 | 168.3 | 138.6 |
| Income tax expense | 17.0 | 22.9 | 42.9 | 14.2 |
| Income from continuing operations | 48.2 | 64.5 | 125.4 | 124.4 |
| (Loss) income from discontinued operations, net of tax | (2.3) | (2.9) | (6.2) | 1,246.4 |
| Net income | $45.9 | $61.6 | $119.2 | $1,370.8 |
| Net earnings per share | ||||
| Basic earnings (loss) per share | ||||
| Continuing operations | $0.37 | $0.40 | $0.96 | $0.74 |
| Discontinued operations | (0.02) | (0.02) | (0.05) | 7.35 |
| Basic earnings per share | $0.35 | $0.38 | $0.91 | $8.09 |
| Diluted earnings (loss) per share | ||||
| Continuing operations | $0.37 | $0.40 | $0.96 | $0.73 |
| Discontinued operations | (0.02) | (0.02) | (0.05) | 7.31 |
| Diluted earnings per share | $0.35 | $0.38 | $0.91 | $8.04 |
| Weighted average common shares outstanding | ||||
| Basic | 129.4 | 161.5 | 130.3 | 169.5 |
| Diluted | 130.2 | 162.5 | 131.2 | 170.6 |
| Comprehensive income | ||||
| Net income | $45.9 | $61.6 | $119.2 | $1,370.8 |
| Other comprehensive (loss) income, net of tax | ||||
| Currency translation adjustments | (1.2) | 1.0 | 2.9 | 45.5 |
| Amortization of pension and other postretirement plan prior service credits | (0.4) | (0.4) | (1.3) | (1.3) |
| Unrealized loss on cash flow hedges | (1.5) | (1.5) | (4.8) | (5.9) |
| Other comprehensive (loss) income | (3.1) | (0.9) | (3.2) | 38.3 |
| Comprehensive income | $42.8 | $60.7 | $116.0 | $1,409.1 |
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