Valvoline Inc. reported its second quarter fiscal year 2025 financial results on May 8, 2025, with net revenues increasing 4% year-over-year to $403.2 million. When adjusted for the impact of refranchising, net revenues grew 11%. System-wide same-store sales (SSS) increased by 5.8%, and system-wide store sales rose 11% to $825.5 million.
Reported operating income for the quarter was $66.9 million, a 12% decline year-over-year, and adjusted EBITDA decreased 1% to $104.4 million. However, adjusted for refranchising impacts, adjusted EBITDA would have increased 6%. The company added 33 net new stores, comprising 15 franchise and 18 company-operated locations, bringing the total system-wide count to 2,078.
Valvoline reiterated its full-year fiscal 2025 guidance, indicating that the business performed in line with expectations despite an uncertain macro and tariff environment. The company also announced that Kevin Willis will succeed Mary Meixelsperger as Chief Financial Officer, effective May 19, 2025. Mr. Willis brings significant public company experience, including leading Valvoline's separation from Ashland in 2016, and will provide immediate value in driving strategic priorities.
The appointment of Kevin Willis as CFO is a significant leadership change, bringing a seasoned executive with direct knowledge of Valvoline's business history. His expertise in capital markets management and financial systems integrations is expected to support the company's ongoing growth and strategic initiatives. The retiring CFO, Mary Meixelsperger, will remain with the company through a transition period.
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