$VVV
VALVOLINE INC

2022 Q1 Form 10-Q Financial Statement

#000167491022000057 Filed on May 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $886.0M $701.0M
YoY Change 26.39% 21.28%
Cost Of Revenue $636.0M $454.0M
YoY Change 40.09% 22.37%
Gross Profit $250.0M $247.0M
YoY Change 1.21% 19.32%
Gross Profit Margin 28.22% 35.24%
Selling, General & Admin $137.0M $129.0M
YoY Change 6.2% 34.38%
% of Gross Profit 54.8% 52.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.00M $23.00M
YoY Change 8.7% 53.33%
% of Gross Profit 10.0% 9.31%
Operating Expenses $137.0M $129.0M
YoY Change 6.2% 34.38%
Operating Profit $117.0M $131.0M
YoY Change -10.69% 11.97%
Interest Expense -$18.00M -$55.00M
YoY Change -67.27% 189.47%
% of Operating Profit -15.38% -41.98%
Other Income/Expense, Net $19.00M $27.00M
YoY Change -29.63% 80.0%
Pretax Income $108.0M $90.00M
YoY Change 20.0% 2.27%
Income Tax $27.00M $22.00M
% Of Pretax Income 25.0% 24.44%
Net Earnings $81.00M $68.00M
YoY Change 19.12% 7.94%
Net Earnings / Revenue 9.14% 9.7%
Basic Earnings Per Share $0.45 $0.37
Diluted Earnings Per Share $0.45 $0.37
COMMON SHARES
Basic Shares Outstanding 180.0M shares 182.0M shares
Diluted Shares Outstanding 181.0M shares 183.0M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $118.0M $247.0M
YoY Change -52.23% -68.09%
Cash & Equivalents $118.0M $247.0M
Short-Term Investments
Other Short-Term Assets $59.00M $55.00M
YoY Change 7.27% 12.24%
Inventory $276.0M $218.0M
Prepaid Expenses
Receivables $563.0M $448.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.016B $968.0M
YoY Change 4.96% -30.06%
LONG-TERM ASSETS
Property, Plant & Equipment $843.0M $741.0M
YoY Change 13.77% 45.58%
Goodwill $665.0M $617.0M
YoY Change 7.78% 43.49%
Intangibles
YoY Change
Long-Term Investments $53.00M $45.00M
YoY Change 17.78% 21.62%
Other Assets $222.0M $117.0M
YoY Change 89.74% -10.69%
Total Long-Term Assets $2.232B $1.953B
YoY Change 14.29% 27.4%
TOTAL ASSETS
Total Short-Term Assets $1.016B $968.0M
Total Long-Term Assets $2.232B $1.953B
Total Assets $3.248B $2.921B
YoY Change 11.19% 0.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $238.0M $180.0M
YoY Change 32.22% -3.23%
Accrued Expenses $300.0M $267.0M
YoY Change 12.36% 24.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $47.00M $1.000M
YoY Change 4600.0%
Total Short-Term Liabilities $585.0M $448.0M
YoY Change 30.58% 11.72%
LONG-TERM LIABILITIES
Long-Term Debt $1.648B $1.719B
YoY Change -4.13% -14.18%
Other Long-Term Liabilities $256.0M $259.0M
YoY Change -1.16% 58.9%
Total Long-Term Liabilities $2.463B $2.529B
YoY Change -2.61% -8.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $585.0M $448.0M
Total Long-Term Liabilities $2.463B $2.529B
Total Liabilities $3.048B $2.977B
YoY Change 2.38% -5.61%
SHAREHOLDERS EQUITY
Retained Earnings $147.0M -$103.0M
YoY Change -242.72% -58.63%
Common Stock $2.000M $2.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $200.0M -$56.00M
YoY Change
Total Liabilities & Shareholders Equity $3.248B $2.921B
YoY Change 11.19% 0.14%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $81.00M $68.00M
YoY Change 19.12% 7.94%
Depreciation, Depletion And Amortization $25.00M $23.00M
YoY Change 8.7% 53.33%
Cash From Operating Activities $64.00M $111.0M
YoY Change -42.34% 16.84%
INVESTING ACTIVITIES
Capital Expenditures -$32.00M -$39.00M
YoY Change -17.95% 34.48%
Acquisitions
YoY Change
Other Investing Activities -$6.000M $8.000M
YoY Change -175.0% -214.29%
Cash From Investing Activities -$38.00M -$31.00M
YoY Change 22.58% -13.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -61.00M -358.0M
YoY Change -82.96% -163.93%
NET CHANGE
Cash From Operating Activities 64.00M 111.0M
Cash From Investing Activities -38.00M -31.00M
Cash From Financing Activities -61.00M -358.0M
Net Change In Cash -35.00M -278.0M
YoY Change -87.41% -144.91%
FREE CASH FLOW
Cash From Operating Activities $64.00M $111.0M
Capital Expenditures -$32.00M -$39.00M
Free Cash Flow $96.00M $150.0M
YoY Change -36.0% 20.97%

Facts In Submission

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100 Valvoline Way
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VALVOLINE INC.
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vvv-20220331_g1.jpg Edgar Link pending
vvv-20220331_htm.xml Edgar Link completed
vvv-20220331_lab.xml Edgar Link unprocessable
vvv-20220331_pre.xml Edgar Link unprocessable