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TM Valvoline.M PRESS RELEASE Valvoline Reports Third - Quarter Results • • • • Reported net income of $ 97 million grew 64 % and earnings per diluted share ( EPS ) of $ 0.53 grew 66 % Adjusted EPS of $ 0.55 grew 112 % and adjusted EBITDA of $ 173 million grew 75 % Sales grew 53 % to $ 792 million ; Retail Services system - wide same - store sales ( SSS ) grew 40.5 % Retail Services represented 52 % of total segment adjusted EBITDA year - to - date , highlighting the Company's ongoing shift from a product- to a service - driven business Returned $ 23 million of cash to shareholders via dividends in the quarter LEXINGTON , Ky . , August 4 , 2021 - Valvoline Inc. ( NYSE : VVV ) , a leading provider of automotive services and premium branded lubricants , today reported financial results for its third fiscal quarter ended June 30 , 2021. All comparisons in this press release are made to the same prior - year period ; however , comparisons to 2019 have also been included to normalize for the impacts of COVID - 19 . " The strength of our team , brand and business model drove exceptional results this quarter , with operating income growing 28 % and adjusted EBITDA growing 35 % versus Q3 2019 , " said Sam Mitchell , CEO . " Our strategic transformation to a service - driven business continues to accelerate our growth , margins and earnings . In addition , secular growth of key industry drivers , such as vehicles in operation , miles driven and age of vehicles , continue to drive global demand for Valvoline's products and preventive maintenance services . " The Retail Services segment delivered much of the year - over - year growth this quarter with over 40 % system - wide SSS growth and 10 % system - wide unit growth while profitability more than doubled . Retail Services is forecasted to deliver 6 to 8 % normalized SSS growth and 5 to 7 % unit growth annually across the system over the Company's long - range plan through 2024 . Mitchell continued , " System - wide same - store sales increased 27 % versus Q3 2019. We continue to gain share and expand average ticket , including ongoing growth in non - oil change revenue , highlighting the broad array of preventive maintenance services performed at our nearly 1,600 stores . " 1