VVV - Valvoline to restructure segments launch $300M stock buyback

Valvoline (VVV) +1.2% post-market after unveiling a realignment of its global operations and authorizing a $300M share repurchase plan.The company says starting in FQ3 it will operate through two business segments: Retail Services, which renames the former Quick Lubes segment, and Global Products, which includes the operations of the former Core North America and International segments.Valvoline also will begin a new approach for allocating indirect expenses and for reporting LIFO inventory accounting adjustments, reporting changes it says will "provide visibility into the underlying operating results."The re-opening thesis, increased miles driven and a new plant in China will all work in Valvoline's favor this year, Michael Fitzsimmons writes in a bullish analysis published on Seeking Alpha.

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Valvoline to restructure segments, launch $300M stock buyback