Kevin Willis

“First, I'd like to give a bit of context around the 3,500. That number was first mentioned around four years ago. At that time, the company had about 1,750 stores, and so that implied a doubling of the store population over the course of time.”

“A summary of our financial results is included in the presentation. Let's talk through the highlights. We delivered top-line growth in line with our expectations, with net sales of $545 million, a 24% increase over the prior year.”

“Well, today, Valvoline is a pure-play automotive services company operating in the retail space, which is very different than how the business grew up. We've been in the quick lube business for 40 years.”

“I will just briefly walk you through a few slides. These, with the exception of one, were all used at our investor update back in December of last year.”

“Q2 sales were $479 million, down 17%, including a $67 million impact from portfolio optimization. Excluding this, sales declined 5% year-over-year.”