$VVV
VALVOLINE INC

2024 Q1 Form 10-Q Financial Statement

#000167491024000033 Filed on February 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023 Q3
Revenue $388.7M $373.4M $390.0M
YoY Change 12.83% 12.2% 16.28%
Cost Of Revenue $242.5M $238.6M $241.7M
YoY Change 11.34% 11.5% 17.16%
Gross Profit $146.2M $134.8M $148.3M
YoY Change 15.39% 13.47% 14.87%
Gross Profit Margin 37.61% 36.1% 38.03%
Selling, General & Admin $72.30M $74.50M $70.30M
YoY Change 15.5% 12.88% 13.2%
% of Gross Profit 49.45% 55.27% 47.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.60M $24.60M $28.10M
YoY Change 24.27% 32.97% -880.56%
% of Gross Profit 17.51% 18.25% 18.95%
Operating Expenses $72.30M $74.50M $70.30M
YoY Change 15.5% 12.88% 13.2%
Operating Profit $76.40M $62.80M $78.00M
YoY Change 24.84% 114.33% 16.42%
Interest Expense -$15.50M -$13.60M -$10.90M
YoY Change 16.54% -27.27% -39.78%
% of Operating Profit -20.29% -21.66% -13.97%
Other Income/Expense, Net -$1.100M -$800.0K $32.80M
YoY Change -59.26% -55.56% -200.0%
Pretax Income $57.30M $45.80M $97.90M
YoY Change 29.35% 563.77% 575.17%
Income Tax $14.00M $11.90M $22.90M
% Of Pretax Income 24.43% 25.98% 23.39%
Net Earnings $41.40M $31.90M $48.90M
YoY Change -96.63% -61.05% -68.99%
Net Earnings / Revenue 10.65% 8.54% 12.54%
Basic Earnings Per Share $0.32 $0.24
Diluted Earnings Per Share $0.32 $0.24 $0.35
COMMON SHARES
Basic Shares Outstanding 129.6M shares 130.7M shares 138.7M shares
Diluted Shares Outstanding 130.7M shares 132.7M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $494.5M $540.4M $756.6M
YoY Change -78.82% 2473.33% 3133.33%
Cash & Equivalents $494.5M $420.7M $409.1M
Short-Term Investments $0.00 $119.7M $347.5M
Other Short-Term Assets $59.80M $55.20M $65.50M
YoY Change 106.21% -96.53% -95.64%
Inventory $37.50M $31.50M $33.30M
Prepaid Expenses
Receivables $109.6M $83.50M $81.30M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $701.4M $710.6M $936.7M
YoY Change -71.47% -58.23% -42.22%
LONG-TERM ASSETS
Property, Plant & Equipment $877.9M $841.5M $818.3M
YoY Change 21.51% 21.38% -10.73%
Goodwill $578.0M
YoY Change 5.44%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $203.3M $198.5M $187.8M
YoY Change 21.01% 29.82% -13.02%
Total Long-Term Assets $2.062B $1.999B $1.953B
YoY Change 13.13% 8.03% 8.77%
TOTAL ASSETS
Total Short-Term Assets $701.4M $710.6M $936.7M
Total Long-Term Assets $2.062B $1.999B $1.953B
Total Assets $2.763B $2.709B $2.890B
YoY Change -35.45% -23.71% -15.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $118.8M $77.20M $118.7M
YoY Change 38.46% 65.67% 163.78%
Accrued Expenses $221.1M $216.4M $215.9M
YoY Change -56.82% 23.52% 25.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $623.8M $23.80M $23.80M
YoY Change 2521.01% -89.4% -85.35%
Total Short-Term Liabilities $963.7M $317.4M $362.3M
YoY Change 55.04% -65.66% -60.59%
LONG-TERM LIABILITIES
Long-Term Debt $951.3M $1.557B $1.562B
YoY Change -39.54% -6.0% 2.44%
Other Long-Term Liabilities $348.7M $346.5M $346.8M
YoY Change 28.01% 40.45% -47.9%
Total Long-Term Liabilities $1.739B $2.327B $2.324B
YoY Change -23.93% -0.46% 6.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $963.7M $317.4M $362.3M
Total Long-Term Liabilities $1.739B $2.327B $2.324B
Total Liabilities $2.703B $2.645B $2.687B
YoY Change -7.05% -18.94% -13.62%
SHAREHOLDERS EQUITY
Retained Earnings $400.0K -$200.0K $140.7M
YoY Change -99.97% -100.08% -50.11%
Common Stock $1.300M $1.300M $1.300M
YoY Change -23.53% -23.53% -27.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $60.10M $64.80M $203.2M
YoY Change
Total Liabilities & Shareholders Equity $2.763B $2.709B $2.890B
YoY Change -35.45% -23.71% -15.42%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $41.40M $31.90M $48.90M
YoY Change -96.63% -61.05% -68.99%
Depreciation, Depletion And Amortization $25.60M $24.60M $28.10M
YoY Change 24.27% 32.97% -880.56%
Cash From Operating Activities $68.30M $19.90M $7.600M
YoY Change -42.51% -328.74% -91.85%
INVESTING ACTIVITIES
Capital Expenditures $44.90M $42.30M $54.60M
YoY Change 13.67% 6.02% -282.0%
Acquisitions $8.300M
YoY Change -13.54%
Other Investing Activities $103.2M $7.100M $72.20M
YoY Change -96.07% -543.75% -308.67%
Cash From Investing Activities $58.30M $172.3M $17.60M
YoY Change -97.74% -403.35% -127.24%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -52.90M -$184.7M -138.1M
YoY Change -88.5% -354.76% 237.65%
NET CHANGE
Cash From Operating Activities 68.30M $19.90M 7.600M
Cash From Investing Activities 58.30M $172.3M 17.60M
Cash From Financing Activities -52.90M -$184.7M -138.1M
Net Change In Cash 73.70M $7.600M -112.9M
YoY Change -96.71% -16.48% 817.89%
FREE CASH FLOW
Cash From Operating Activities $68.30M $19.90M $7.600M
Capital Expenditures $44.90M $42.30M $54.60M
Free Cash Flow $23.40M -$22.40M -$47.00M
YoY Change -70.49% -53.91% -138.15%

Facts In Submission

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