Valvoline Inc. VVV recently announced the opening of acompany-owned Valvoline Instant Oil Change (VIOC) service center in Williamsburg, VA. With this, the company currently owns six VIOC quick-lube locations operating in the state. The move expanded the company’s existing network of more than 1,300 franchised and owned VIOC stores.
Notably, VIOC stores offer a wide variety of services that include tire rotation, preventive maintenance services related to the radiator, air conditioning and transmission as well as replacement of safety parts like light bulbs and wiper blades. Most of the locations provide fuel system and battery services. VIOC service stores allow customers to stay inside the car and survey the services.
Recently, the company acquired two quick lube locations based in the Houston area. Currently, these quick lube locations are serving as VIOC stores.
Valvoline is working diligently to strengthen its quick-lube model. In this regard, it has undertaken several efforts ranging from organic expansion of stores to starting VOIC service stores and Express Care centers at acquired locations. This model enables the company to provide quick and reliable services to customers through a convenient approach.
However, the company faces strong competition in all product categories and subcategories. Notably, its major peers for retail customers include global integrated oil brands like Exxon Mobil Corporation XOM, BP p.l.c. BP and Royal Dutch Shell plc RDS.A. In addition, analysts have become increasingly bearish on Valvoline. In the past couple of months, the Zacks Consensus Estimate for fiscal 2019 earnings has declined from $1.39 to $1.34, thanks to six downward estimate revisions versus none upward.
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