Valero(US:VLO) Businesswire·2025-10-23 10:30Core Insights - Valero Energy Corporation reported a net income of $1.1 billion, or $3.53 per share, for Q3 2025, a significant increase from $364 million, or $1.14 per share, in Q3 2024 [1][7][9] - The refining segment showed strong performance with operating income of $1.6 billion in Q3 2025, up from $565 million in Q3 2024, and refining throughput volumes averaged 3.1 million barrels per day [2][3] - The Renewable Diesel segment experienced an operating loss of $28 million in Q3 2025, compared to an operating income of $35 million in Q3 2024 [3] - The Ethanol segment reported operating income of $183 million for Q3 2025, an increase from $153 million in Q3 2024, with record production volumes of 4.6 million gallons per day [4] Financial Performance - Total revenues for Q3 2025 were $32.168 billion, slightly down from $32.876 billion in Q3 2024 [18] - General and administrative expenses increased to $246 million in Q3 2025 from $234 million in Q3 2024 [5] - The effective tax rate for Q3 2025 was 27% [5] Cash Flow and Investments - Net cash provided by operating activities was $1.9 billion in Q3 2025, with adjusted net cash provided being $1.6 billion [6] - Capital investments totaled $409 million in Q3 2025, primarily for sustaining the business [8] - Valero returned $1.3 billion to stockholders in Q3 2025, with $351 million in dividends and $931 million in stock buybacks [9] Strategic Developments - The St. Charles FCC Unit optimization project, costing $230 million, is expected to begin operations in the second half of 2026 [12] - Valero's total debt at the end of Q3 2025 was $8.4 billion, with cash and cash equivalents amounting to $4.8 billion, resulting in a debt to capitalization ratio of 18% [11]