VALVOLINE INC. (NYSE:VVV) Files An 8-K Results of Operations and Financial Condition
Item 2.02.
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Results of Operations and Financial Condition
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preliminary second quarter results for fiscal 2017, which are
discussed in more detail in the news release (the News Release)
attached to this Current Report on Form 8-K (Form 8-K) as Exhibit
99.1, which is incorporated by reference into this Item 2.02.
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Item 7.01.
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Regulation FD Disclosure
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on Valvolines website located at http://investor.Valvoline.com.
On April 26, 2017, Valvoline will make available a webcast and
slide presentation relating to the News Release on Valvolines
website located at http://investors.Valvoline.com.
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Item 8.01.
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Other Events
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that its Board of Directors has authorized a stock repurchase
program, under which Valvoline may repurchase up to $150 million
of its outstanding common stock. Purchases will be made in
accordance with all applicable securities laws and regulations,
including Rules 10b5-1 and 10b-18 of the Securities Exchange Act
of 1934, as amended, and will be funded from available liquidity.
The timing and amount of any purchases of common stock will be
based on the level of Valvolines liquidity, general business and
market conditions and other factors, including alternative
investment opportunities. The term of the new repurchase program
extends through December 31, 2019.
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Item 9.01.
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Financial Statements and Exhibits
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(d)
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Exhibits
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99.1
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News Release dated April 25, 2017.
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7.01, the information in this Form 8-K, including the exhibit
attached hereto, is being furnished and shall not be deemed filed
for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the Exchange Act), or otherwise subject to the
liabilities of such section. The information in this Form 8-K,
including the exhibit, shall not be incorporated by reference
into any filing under the Securities Act of 1933, as amended, or
the Exchange Act, regardless of any incorporation by reference
language in any such filing. This Form 8-K will not be deemed an
admission as to the materiality of any information in this Form
8-K that is required to be disclosed solely by Regulation FD.
About VALVOLINE INC. (NYSE:VVV)
Valvoline Inc. (Valvoline) is engaged in the production and distribution of automotive, commercial and industrial lubricants, and automotive chemicals. The Company operates through three segments: Core North America, Quick Lubes and International. The Core North America segment sells Valvoline, and other branded and private label products in the United States and Canada to both consumers performing their own automotive maintenance, referred to as Do-It-Yourself (DIY) consumers, as well as, to installer customers using Valvoline products to service vehicles owned by Do-It-For-Me (DIFM) consumers. Its Quick Lubes segment services the passenger car and light truck quick lube market through platforms, including its franchised Valvoline Instant Oil Change (VIOC) stores and Express Care. Its International segment sells Valvoline and other branded products through its affiliates, joint ventures, licensees and independent distributors. Its products include All Climate, DuraBlend and MaxLife. VALVOLINE INC. (NYSE:VVV) Recent Trading Information
VALVOLINE INC. (NYSE:VVV) closed its last trading session up +0.46 at 23.28 with 875,263 shares trading hands.
