Valvoline Inc. (NYSE:VVV) Q4 2023 Earnings Conference Call November 9, 2023 9:00 AM ET

Company Participants

Elizabeth Russell - Investor Relations

Lori Flees - President & Chief Executive Officer

Mary Meixelsperger - Chief Financial Officer

Conference Call Participants

Daniel Imbro - Stephens Inc

Steven Zaccone - Citi

Simeon Gutman - Morgan Stanley

Kate McShane - Goldman Sachs

Bret Jordan - Jefferies

David Lantz - Wells Fargo

Mike Harrison - Seaport Research Partners

Operator

Hello, everyone, and welcome to the Valvoline 4Q 2023 Earnings Conference Call and Webcast. My name is Emily and I'll be coordinating your call today. [Operator Instructions]

I will now turn the call over to our host, Elizabeth Russell. Please go ahead, Elizabeth.

Elizabeth Russell

Thanks. Good morning and welcome to Valvoline's fourth quarter fiscal 2023 conference call and webcast. This morning at approximately 7:00 AM Eastern Time, Valvoline released results for the fiscal year and fourth quarter ended September 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-K with the Securities and Exchange Commission. On this morning's call is Lori Flees, our President and CEO; and Mary Meixelsperger, our 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.

As a reminder, the Retail Services business represents the company's continuing operations and the former Global Products segment is classified as discontinued operations for the purposes of GAAP reports.