Ashland/Valvoline Results

Valvoline’s parent company, Ashland, Inc., announced results for the end of its fiscal first quarter ended Dec. 31, 2008 last week. Overall, the company announced an operating loss of $7 million and a net loss of $119 million.

Things looked brighter in Ashland’s Consumer Markets (i.e. Valvoline) division, however. Consumer Markets reported sales and operating revenue of $388 million, up 2 percent year over year. While overall lubricant demand declined by 17 percent, Ashland noted most of this decline came from the do-it-yourself segment. Results for the company’s Valvoline Instant Oil Change division were positive, with company-owned stores increasing car counts and growing same-store sales by 9 percent year over year. Ashland reported net EBITDA of $28 million for its Consumer Markets division.

About National Oil & Lube News

National Oil & Lube News is the fast oil change industry's oldest and largest trade publication. Started in 1986 by Steve Hurt (a former fast lube owner) and David Arrington, NOLN has grown and evolved right alongside the fast lube industry. Here at NOLN, our aim is to help fast lube operators with every facet of their business, from operations to technical issues. Our monthly magazine and this regularly updated website contain everything from technical tips, recall announcements and service guides to articles on handling customer complaints, building your brand and making your business the best it can be. With tips and advice from experts both inside and outside the industry, you're sure to learn something that can help your fast lube business grow and prosper.
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