David Lance Hays's questions to Valvoline Inc (VVV) leadership • Q3 2025
Question
David Lance Hays from Wells Fargo asked for indications on franchise unit growth for fiscal 2026 to better understand the ramp to 150 units per year by 2027. He also requested an update on the performance of the fleet business.
Answer
CEO Lori Flees stated that the new unit pipeline continues to accelerate. Existing franchisees are on pace, while newer franchisees from the refranchising deals are ramping up on a more back-end loaded timeline, as expected. She also confirmed that the fleet business continues to perform strongly, with its growth outpacing the consumer side, aided by expanding partnerships with franchisees for regional and local accounts.