VALVOLINE INC Earnings Per Share Disclosure
| (In millions, except per share data) | 2025 | 2024 | 2023 | |||||||||||||||||
| Numerator | ||||||||||||||||||||
| Income from continuing operations | $ | 214.8 | $ | 214.5 | $ | 199.4 | ||||||||||||||
| (Loss) income from discontinued operations, net of tax | (4.1) | (3.0) | 1,220.3 | |||||||||||||||||
| Net income | $ | 210.7 | $ | 211.5 | $ | 1,419.7 | ||||||||||||||
| Denominator | ||||||||||||||||||||
Weighted average common shares outstanding | 127.9 | 130.1 | 161.6 | |||||||||||||||||
Effect of potentially dilutive securities (a) | 0.7 | 0.9 | 1.0 | |||||||||||||||||
| Weighted average diluted shares outstanding | 128.6 | 131.0 | 162.6 | |||||||||||||||||
| Basic earnings per share | ||||||||||||||||||||
| Continuing operations | $ | 1.68 | $ | 1.65 | $ | 1.24 | ||||||||||||||
| Discontinued operations | (0.03) | (0.02) | 7.55 | |||||||||||||||||
| Basic earnings per share | $ | 1.65 | $ | 1.63 | $ | 8.79 | ||||||||||||||
| Diluted earnings per share | ||||||||||||||||||||
| Continuing operations | $ | 1.67 | $ | 1.63 | $ | 1.23 | ||||||||||||||
| Discontinued operations | (0.03) | (0.02) | 7.50 | |||||||||||||||||
| Diluted earnings per share | $ | 1.64 | $ | 1.61 | $ | 8.73 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Nov 21, 2025 | Showing above |
| 2024 | Nov 22, 2024 | |
| 2023 | Nov 20, 2023 | |
| 2021 | Nov 19, 2021 | |
| 2020 | Nov 24, 2020 | |
| 2019 | Nov 22, 2019 | |
| 2018 | Nov 21, 2018 | |
| 2017 | Nov 17, 2017 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.