Company Performance - Valero Energy (VLO) closed at $154.59, with a slight increase of +0.1% from the previous trading day, underperforming the S&P 500 which gained 0.26% [1] - Over the past month, Valero's shares decreased by 1.09%, outperforming the Oils-Energy sector's loss of 3.91% but underperforming the S&P 500's gain of 3.25% [1] - The upcoming earnings report is projected to show earnings per share (EPS) of $5.15, a decrease of 4.63% year-over-year, with revenue expected at $34.38 billion, down 0.38% from the same quarter last year [1] Analyst Estimates - For the full year, earnings are projected at $17.82 per share and revenue at $135.11 billion, reflecting declines of -28.43% and -6.67% respectively from the prior year [2] - Recent changes in analyst estimates indicate short-term business trends, with upward revisions suggesting analysts' positive outlook on the company's operations [2] Valuation Metrics - Valero Energy has a Forward P/E ratio of 8.67, which is lower than the industry average of 11.36, indicating it is trading at a discount [3] - The PEG ratio for Valero is currently 1.44, compared to the industry average PEG ratio of 1.75, suggesting a favorable valuation relative to projected earnings growth [3] Industry Context - The Oil and Gas - Refining and Marketing industry has a Zacks Industry Rank of 149, placing it in the bottom 41% of over 250 industries [4] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1, highlighting the competitive landscape within the sector [4]

Valero Energy (VLO) ended the recent trading session at $155.38, demonstrating a +0.94% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.15%. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.17%.Shares of the oil refiner have depreciated by 2.69% over the course of the past month, underperforming the Oils-Energy sector's loss of 1.23% and the S&P 500's gain of 3.2%.Analysts and investors alike will be keepi ...

Valero Energy (VLO) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this oil refiner have returned -1.3% over the past month versus the Zacks S&P 500 composite's +7.1% change. The Zacks Oil and Gas - Refining and Marketing industry, to which Valero Energy belongs, has lost 1.7% over this period. Now the key question is: Where could the stock be headed in the near term?Althoug ...

ValeroEnergy Corporation (VLO) recently reported better-than-expected first-quarter 2024 earnings. The leading oil refiner’s earnings per share were $3.82, while revenues came in at $31.8 billion.Price Performance SolidSince the earnings announcement on Apr 25, the stock declined almost 5%, unrelated to the company’s fundamentals. However, Valero has proven to be incredibly rewarding since the beginning of 2024, gaining 23.1% year to date, surpassing the 8.1% rise of the composite stocks belonging to the Za ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about Valero Energy (VLO) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Valero Energy currently has a ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors rely on traditional forms of analysis on ke ...

Aziz Shamuratov /iStock Editorial via Getty ImagesIntroduction Apple (AAPL) is having somewhat of a hard time. Five of its past six quarters had negative sales growth, dragged down by its flagship product, the iPhone, which is pressured by headwinds, including stronger competition from Chinese producers. However, its shares soared by more than 6% after the recent earnings release, as the producer noted that it expects the next quarter to see growth. It also revealed $110 billion in additional buybacks! ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number 001-13175 VALERO ENERGY CORPORATION (Exact name of registrant as specified in its charter) Delaware ...

Financial Data and Key Metrics Changes - For Q1 2024, net income attributable to Valero stockholders was $1.2 billion or $3.75 per share, down from $3.1 billion or $8.29 per share in Q1 2023 [10] - Adjusted net income for Q1 2024 was $1.3 billion or $3.82 per share, compared to $3.1 billion or $8.27 per share in Q1 2023 [10] - Refining segment operating income was $1.7 billion in Q1 2024, down from $4.1 billion in Q1 2023 [10] - Refining throughput volumes averaged 2.8 million barrels per day in Q1 2024, with a capacity utilization of 87% [10] Business Line Data and Key Metrics Changes - Renewable Diesel segment operating income was $190 million in Q1 2024, down from $205 million in Q1 2023, despite sales volumes averaging 3.7 million gallons per day, which was 741,000 gallons per day higher than the previous year [11] - Ethanol segment reported $10 million of operating income in Q1 2024, down from $39 million in Q1 2023, with production volumes averaging 4.5 million gallons per day, an increase of 283,000 gallons per day year-over-year [12] Market Data and Key Metrics Changes - Diesel sales in the Valero system were trending about 2% higher than last year, while gasoline sales remained flat compared to the previous year [21] - Jet fuel demand was up year-over-year, despite a recent sell-off in distillates [22] Company Strategy and Development Direction - The DGD Sustainable Aviation Fuel project at Port Arthur is ahead of schedule and expected to be operational in Q4 2024, positioning Valero as one of the largest manufacturers of SAF globally [8] - The company is focusing on shorter cash cycle projects to optimize existing refining assets and improve margins [8] Management's Comments on Operating Environment and Future Outlook - Management expects refining margins to remain supported by tight product balances and low inventories ahead of the driving season [9] - Long-term product demand is anticipated to exceed supply, even with new refineries starting up this year [9] Other Important Information - Valero repaid $167 million of senior notes and increased its quarterly cash dividend from $1.02 to $1.07 per share [9] - The company returned $1.4 billion to stockholders in Q1 2024, with a payout ratio of 74% [14] Q&A Session Summary Question: Product supply and demand outlook - Management noted strong light product demand, with gasoline sales equal to last year and diesel sales trending 2% higher [21] Question: Cash flow payout sustainability - Management indicated that the current payout level is sustainable, with a long-term commitment to a 40% to 50% payout ratio [28] Question: Crude availability and differentials - Management observed that crude differentials widened in Q1 due to seasonal demand but expect them to remain tight throughout the year [33] Question: Renewable diesel market outlook - Management expressed a positive long-term outlook for renewable diesel, driven by upcoming SAF mandates and legislative support [50] Question: M&A appetite for refining assets - Management stated that while they always evaluate opportunities, there are no immediate plans for major acquisitions [70]

Core Viewpoint - Valero Energy Corporation reported first-quarter 2024 adjusted earnings of $3.82 per share, exceeding the Zacks Consensus Estimate of $3.18, but down from $8.27 in the same quarter last year. Total revenues fell to $31,759 million from $36,439 million year-over-year, missing the consensus estimate of $32,826 million. The better-than-expected earnings were mainly due to a decline in total cost of sales [1]. Segmental Performance - Adjusted operating income in the Refining segment was $1,745 million, down from $4,057 million year-over-year, and below the estimate of $1,759.6 million, impacted by declining throughput volumes and lower refining margins [2]. - The Ethanol segment reported an adjusted operating profit of $39 million, consistent with the previous year, supported by higher production volumes [2]. - Operating income in the Renewable Diesel segment decreased to $190 million from $205 million year-over-year, although sales volume increased to 3,729 thousand gallons per day from 2,988 thousand gallons [2]. Throughput Volumes - Valero's refining throughput volumes were 2,760 thousand barrels per day, down from 2,930 thousand barrels per day in the first quarter of 2023. The Gulf Coast region contributed 57.7% to total throughput volume [3]. Throughput Margins - The refining margin per barrel of throughput declined to $14.07 from $22.37 year-over-year. Adjusted refining operating income was $6.97 per barrel compared to $15.42 in the prior-year quarter [4]. Cost of Sales - Total cost of sales decreased to $29,776 million from $32,132 million year-over-year, primarily due to lower material costs and operating expenses [5]. Capital Investment & Balance Sheet - First-quarter capital investment totaled $661 million, with $563 million allocated for sustaining the business. Cash and cash equivalents stood at $4,917 million, while total debt and finance lease obligations were $10,897 million as of March 31, 2024 [6].