Valvoline reports Q1 adjusted EPS 37c, consensus 33c

Reports Q1 revenue $461.8M, consensus $461.02M. System-wide store sales increased 13% to $924M and system-wide same store sales grew 5.8%. “We delivered a strong quarter to start the fiscal year,” said Lori Flees, President & CEO. “System-wide same store sales growth of 5.8%, along with our network expansion, drove double-digit profit growth and margin improvement. During the first quarter, we added 200 stores, including 162 from the Breeze acquisition. The Breeze business is performing in line with our expectations and integration activities are underway.”