$VVV
VALVOLINE INC

2020 Q3 Form 10-Q Financial Statement

#000167491020000113 Filed on August 04, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2020 Q1
Revenue $652.0M $516.0M $578.0M
YoY Change 3.66% -15.82% -2.2%
Cost Of Revenue $394.0M $329.0M $371.0M
YoY Change -4.37% -18.97% -4.38%
Gross Profit $258.0M $187.0M $207.0M
YoY Change 18.89% -9.66% 1.97%
Gross Profit Margin 39.57% 36.24% 35.81%
Selling, General & Admin $123.0M $106.0M $96.00M
YoY Change 6.96% -8.62% -15.04%
% of Gross Profit 47.67% 56.68% 46.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.00M $17.00M $15.00M
YoY Change 0.0% 13.33% 7.14%
% of Gross Profit 6.98% 9.09% 7.25%
Operating Expenses $123.0M $106.0M $96.00M
YoY Change 6.96% -8.62% -15.04%
Operating Profit $176.0M $88.00M $117.0M
YoY Change 55.75% -13.73% 21.88%
Interest Expense -$20.00M -$19.00M -$19.00M
YoY Change 11.11% 0.0% 0.0%
% of Operating Profit -11.36% -21.59% -16.24%
Other Income/Expense, Net $43.00M $17.00M $15.00M
YoY Change -176.79% 30.77% 25.0%
Pretax Income $188.0M $78.00M $88.00M
YoY Change 571.43% -8.24% 10.0%
Income Tax $28.00M $19.00M $25.00M
% Of Pretax Income 14.89% 24.36% 28.41%
Net Earnings $122.0M $59.00M $63.00M
YoY Change 351.85% -9.23% 0.0%
Net Earnings / Revenue 18.71% 11.43% 10.9%
Basic Earnings Per Share $0.66 $0.32 $0.33
Diluted Earnings Per Share $0.66 $0.32 $0.33
COMMON SHARES
Basic Shares Outstanding 185.0M shares 186.0M shares 188.0M shares
Diluted Shares Outstanding 186.0M shares 188.0M shares

Balance Sheet

Concept 2020 Q3 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $760.0M $751.0M $774.0M
YoY Change 377.99% 496.03% 578.95%
Cash & Equivalents $760.0M $751.0M $774.0M
Short-Term Investments
Other Short-Term Assets $46.00M $43.00M $49.00M
YoY Change 6.98% -17.31% -16.95%
Inventory $199.0M $189.0M $209.0M
Prepaid Expenses
Receivables $433.0M $396.0M $352.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.438B $1.379B $1.384B
YoY Change 80.43% 72.16% 88.81%
LONG-TERM ASSETS
Property, Plant & Equipment $613.0M $559.0M $509.0M
YoY Change 23.09% 22.86% 15.42%
Goodwill $445.0M $434.0M $430.0M
YoY Change 3.49% 4.58% 6.44%
Intangibles
YoY Change
Long-Term Investments $44.00M $39.00M $37.00M
YoY Change 29.41% 11.43% 8.82%
Other Assets $132.0M $133.0M $131.0M
YoY Change 22.22% 25.47% 27.18%
Total Long-Term Assets $1.613B $1.584B $1.533B
YoY Change 27.31% 32.11% 29.81%
TOTAL ASSETS
Total Short-Term Assets $1.438B $1.379B $1.384B
Total Long-Term Assets $1.613B $1.584B $1.533B
Total Assets $3.051B $2.963B $2.917B
YoY Change 47.82% 48.15% 52.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $189.0M $178.0M $186.0M
YoY Change 10.53% 9.2% 20.78%
Accrued Expenses $255.0M $254.0M $215.0M
YoY Change 7.59% 4.96% 4.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Total Short-Term Liabilities $444.0M $432.0M $401.0M
YoY Change 4.96% 4.85% 2.82%
LONG-TERM LIABILITIES
Long-Term Debt $1.962B $1.953B $2.003B
YoY Change 47.85% 46.4% 51.97%
Other Long-Term Liabilities $172.0M $185.0M $163.0M
YoY Change -7.03% 0.54% -8.94%
Total Long-Term Liabilities $2.683B $2.719B $2.753B
YoY Change 41.28% 47.77% 51.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $444.0M $432.0M $401.0M
Total Long-Term Liabilities $2.683B $2.719B $2.753B
Total Liabilities $3.127B $3.151B $3.154B
YoY Change 34.67% 39.92% 42.59%
SHAREHOLDERS EQUITY
Retained Earnings -$110.0M -$211.0M -$249.0M
YoY Change -61.27% -27.49% -25.89%
Common Stock $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$76.00M -$188.0M -$237.0M
YoY Change
Total Liabilities & Shareholders Equity $3.051B $2.963B $2.917B
YoY Change 47.82% 48.15% 52.4%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $122.0M $59.00M $63.00M
YoY Change 351.85% -9.23% 0.0%
Depreciation, Depletion And Amortization $18.00M $17.00M $15.00M
YoY Change 0.0% 13.33% 7.14%
Cash From Operating Activities $101.0M $117.0M $95.00M
YoY Change -9.01% 46.25% 93.88%
INVESTING ACTIVITIES
Capital Expenditures -$57.00M -$37.00M -$29.00M
YoY Change 62.86% 48.0% 38.1%
Acquisitions
YoY Change
Other Investing Activities -$22.00M -$35.00M -$7.000M
YoY Change -24.14% 150.0% -12.5%
Cash From Investing Activities -$79.00M -$72.00M -$36.00M
YoY Change 23.44% 84.62% 24.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $60.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.00M -72.00M 560.0M
YoY Change -31.82% 148.28% 11100.0%
NET CHANGE
Cash From Operating Activities 101.0M 117.0M 95.00M
Cash From Investing Activities -79.00M -72.00M -36.00M
Cash From Financing Activities -15.00M -72.00M 560.0M
Net Change In Cash 7.000M -27.00M 619.0M
YoY Change -72.0% -325.0% 2376.0%
FREE CASH FLOW
Cash From Operating Activities $101.0M $117.0M $95.00M
Capital Expenditures -$57.00M -$37.00M -$29.00M
Free Cash Flow $158.0M $154.0M $124.0M
YoY Change 8.22% 46.67% 77.14%

Facts In Submission

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VALVOLINE INC.
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