Valvoline (VVV) Misses Q1 EPS by 4c
Valvoline (NYSE: VVV) reported Q1 EPS of $0.27, $0.04 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $557 million versus the consensus estimate of $584.74 million.
Fiscal 2019 Outlook
"We continue to recognize the importance of Core North America's cash generation to fund our growth objectives," Mitchell said. "The restructuring program announced today, in addition to the other actions we are implementing, are expected to drive more stable results in Core North America.
"We anticipate Quick Lubes will continue its high level of performance, and we believe the decisive actions we're taking in Core North America will improve results throughout the year. In addition, we are taking actions to broadly improve cost efficiency and expect to benefit from a more favorable raw material cost environment. Based on the slow start to the year, we are lowering our EBITDA and EPS guidance."
Information regarding the company's outlook for fiscal 2019 is provided in the table below:
Updated Outlook | 2019 Outlook | |
Operating Segments | ||
Lubricant gallons | 1-2% | 2.5-3.5% |
Revenues | 6-8% | 7-9% |
New Quick Lube stores (excludes Valvoline acquired stores and franchise conversions) | ||
Company-owned | No change | 27-32 |
Franchised | 60-70 | 30-40 |
VIOC same-store sales | 7-8% | 6-7% |
Adjusted EBITDA | $470-$485 million | $480-$495 million |
Corporate Items | ||
Adjusted effective tax rate | No change | 25-26% |
Diluted adjusted EPS | $1.31-$1.39 | $1.35-$1.43 |
Capital expenditures | No change | $115-$120 million |
Free cash flow | No change | $190-$210 million |
For earnings history and earnings-related data on Valvoline (VVV) click here.