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By Counterman
There is nothing simple about complex engine oil formulations. Effectively explaining to your customer how Valvoline’s Restore & Protect motor oil removes and prevents engine deposits may seem like a tough task.
Dr. Michael Warholic, global technology director for Valvoline Global Operations, emphasizes the importance of visual evidence
“Hey, look how this product performs,” said Warholic. “We have visuals showing that there’s a removal of deposits, that there is a reversing of the aging process in an engine. That’s a great case story to tell.”
Warholic talks with Babcox Content Director Jason Morgan about the formulation process that sets Restore & Protect apart. The process involves a balance of various additives and components, tested rigorously in both laboratory and real-world conditions. It also involves combining base oils, viscosity modifiers, and a unique blend of additives. These additives include detergents to clean deposits, friction modifiers to reduce engine strain, and antioxidants to combat the breakdown of oil components. The goal was to create a motor oil that not only prevents the formation of new deposits but also removes existing ones, effectively rejuvenating the engine.
“We wanted to do something different than everybody else,” said Warholic. “That’s what Restore and Protect does. It differentiates us from our competitors. It does something that no other oil does in the marketplace right now.”
Restore & Protect could be considered a new category of motor oil that bridges the gap between conventional oils and high-mileage formulations. While high-mileage oils are designed for older engines, Restore & Protect is suitable for both new and aging engines. Its dual function of preventing new deposits and reversing existing ones makes it a versatile choice for a wide range of vehicles.
This innovation is particularly valuable for engines operating under severe conditions, such as those used for towing or in high-traffic areas. The oil’s ability to handle these demanding environments while maintaining engine cleanliness offers a significant advantage over standard motor oils.
“There’s always engine oil. Formulating is a little bit about give and take. The engine is a very complex machine. You have different temperatures, different pressures. It is really a very interesting field when you start digging into it.”
“We do tons of data-driven testing. That’s what we live for.”
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By Advance Auto Parts
RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, announced its financial results for the second quarter ended July 13, 2024.
“Our team delivered positive comparable sales growth while navigating a challenging demand environment during the second quarter. I would like to thank the team for their hard work and dedication to serving our customers,” said Shane O’Kelly, president and chief executive officer. “We continue to make progress on our decisive actions with an increased focus on the Advance blended box. This morning, we announced the sale of Worldpac for $1.5 billion. This transaction is a critical milestone in our turnaround as it enables us to strengthen our balance sheet and streamline our focus. The next chapter of our strategic and operational review will now focus on the remaining Advance business, with the goal of improving our sales trajectory and the productivity of all our assets to deliver stronger returns for our shareholders.”
Second Quarter 2024 Results (1,2)
Second quarter 2024 net sales totaled $2.7 billion, which was flat compared with the second quarter of the prior year. Comparable store sales increased 0.4%.
The company's gross profit decreased 2.3% to $1.1 billion. Gross profit margin was 41.5% compared with 42.5% in the second quarter of the prior year. This was primarily due to the company's strategic pricing investments and higher product costs.
SG&A expenses were $1.0 billion, or 38.9% of net sales compared with 37.8% in the second quarter of 2023. This increase was primarily due to wage investments in frontline team members and an increase in professional fees, including costs associated with the implementation of the company's strategic plan and the remediation of the company’s previously-disclosed material weaknesses. This was partially offset by a reduction in marketing expenses.
The company's operating income was $71.8 million, or 2.7% of net sales compared with 4.7% in the second quarter of 2023.
The company's effective tax rate was 27.5%, compared with 26.4% in the second quarter of 2023. The company's diluted EPS was $0.75, compared with $1.32 in the second quarter of 2023.
Net cash provided by operating activities was $87.8 million through the second quarter of 2024 versus $167.1 million of cash used in operating activities in the same period of the prior year. Free cash flow through the second quarter of 2024 was an outflow of $4.6 million compared with an outflow of $312.0 million in the same period of the prior year.
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By Counterman
The National Institute for Automotive Service Excellence (ASE) said more than 8,400 automotive service professionals participated in its gasoline engine survey. ASE has been commissioned to conduct a series of studies to identify and understand which repair tasks automotive service technicians perform most frequently.
The initial survey focused on gasoline engine repair tasks and showed that 57% of those who completed the survey are currently A1 certified or were in the past, and 76% hold one or more ASE A2-A8 automotive certifications. A majority of those respondents hold each of those respective certifications.
Regarding training, technicians receive training from a variety of sources including on the job (79%), OEM training (69%), college (57%), high school (53%) and aftermarket (47%). Among those who completed the survey, 82% said they have 10 or more years of experience and 57 percent said ASE certifications factored into their pay plans.
As a thank you to those who participated in the survey, five automotive service professionals were randomly selected to be awarded Snap-on gift cards. The winners are Andrew Cronin Sr., David Kaplanis, Jeramy Peterson, David Phillips and Calen Sober-Throop.
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