Valero Energy (VLO) Tops Q2 EPS by 16c, Revenues Miss

Valero Energy (NYSE: VLO) reported Q2 EPS of ($1.25), $0.16 better than the analyst estimate of ($1.41).

• Reported net income attributable to Valero stockholders of $1.3 billion, or $3.07 per share.
• Reported adjusted net loss attributable to Valero stockholders of $504 million, or $1.25 per share.
• Returned $400 million in cash to stockholders through dividends and declared a quarterly common stock dividend of $0.98 per share on July 16.

“While the impact of the pandemic and the ensuing global economic downturn so far this year has been significant, we saw a rapid recovery in demand for refined products as we moved through the quarter,” said Joe Gorder, Valero Chairman and Chief Executive Officer.

“As we focus on the path to recovery with improving product demand, we remain steadfast in the execution of our strategy, pursuing excellence in our operations, investing for earnings growth with lower volatility and honoring our commitment to stockholder returns,” said Gorder. “This uncompromising focus on capital discipline and execution has served us well in the current pandemic-imposed downturn, and it should continue to position Valero well through the recovery and beyond.”

For earnings history and earnings-related data on Valero Energy (VLO) click here.

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