Valvoline Inc. (NYSE:VVV) Q3 2023 Earnings Conference Call August 9, 2023 9:00 AM ET

Company Participants

Elizabeth Russell - Investor Relations

Sam Mitchell - Chief Executive Officer

Lori Flees - President, Retail Services

Mary Meixelsperger - Chief Financial Officer

Conference Call Participants

Simeon Gutman - Morgan Stanley

Steve Zaccone - Citi

Daniel Imbro - Stephens

Jeff Zekauskas - JPMorgan

Mike Harrison - Seaport Research Partners

Bret Jordan - Jefferies

Operator

Thank you all for joining. I would like to welcome you all to the Valvoline Third Quarter 2023 Earnings Conference Call and Webcast. My name is Brika, and I will be your moderator for today's call. All lines are on mute for presentation portion of the call today with an opportunity for questions-and-answers at the end. [Operator Instructions]

I would now like to hand over to your host, Elizabeth Russell to begin today's call. So Elizabeth, please go ahead.

Elizabeth Russell

Thanks Brika. Good morning and welcome to Valvoline's third quarter fiscal 2023 conference call and webcast. This morning at approximately 7:00 AM Eastern Time, Valvoline released results for the third quarter ended June, 30, 2023. This presentation should be viewed in conjunction with that earnings release, a copy of which is available on our Investor Relations website at investors.valvoline.com.

Please note that these results are preliminary until we file our Form 10-Q with the Securities and Exchange Commission. On this morning's call is Sam Mitchell, CEO; Lori Flees, President of Retail Services; and Mary Meixelsperger CFO.

As shown on slide 2 any of our remarks today that are not statements of historical facts are forward-looking statements. These forward-looking statements are based on current assumptions as of the date of this presentation and are subject to certain risks and uncertainties that may cause actual results to differ materially from such statements. Valvoline assumes no obligation to update any forward-looking statements unless required by law.

In this presentation and in our remarks, we will be discussing our results on an adjusted non-GAAP basis unless otherwise noted. Non-GAAP results are adjusted for key items, which are unusual, non-operational or restructuring in nature. We believe this approach enhances the understanding of our ongoing business. A reconciliation of our adjusted non-GAAP results to amounts reported under GAAP and a discussion of management's use of non-GAAP and key business measures is included in the presentation appendix. The information provided is used by our management and may not be comparable to similar measures used by other companies.