Valvoline Inc. (NYSE:VVV) Q3 2024 Earnings Conference Call August 7, 2024 9:00 AM ET

Company Participants

Elizabeth Russell - IR
Lori Flees - President and CEO
Mary Meixelsperger - CFO

Conference Call Participants

Steven Zaccone - Citi
Simeon Gutman - Morgan Stanley
Peter Keith - Piper Sandler
Mike Harrison - Seaport Global Research
David Bellinger - Mizuho
Lydia Huang - JPMorgan
David Lantz - Wells Fargo
Bret Jordan - Jefferies
Jim Chartier - Monness Crespi Hardt

Operator

Hello all, and welcome to Valvoline's Third Quarter Fiscal 2024 Conference Call and Webcast. My name is Lydia and I'll be your operator today. After the prepared remarks there will be an opportunity to ask questions. [Operator Instructions].

I'll now hand you over to Elizabeth Russell with Valvoline to begin. Please go ahead.

Elizabeth Russell

Thanks. Good morning, and welcome to Valvoline's third quarter fiscal 2024 conference call and webcast. This morning, Valvoline released results for the third quarter ended June 30, 2024. 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 Lori Flees, our CEO and President; 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 in 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 reporting.