Valero Energy (VLO) Tops Q3 EPS by 21c

Valero Energy (NYSE: VLO) reported Q3 EPS of ($1.16), $0.21 better than the analyst estimate of ($1.37). Revenue for the quarter came in at $15.81 billion versus the consensus estimate of $16.55 billion.

• Reported net loss attributable to Valero stockholders of $464 million, or $1.14 per share.
• Reported adjusted net loss attributable to Valero stockholders of $472 million, or $1.16 per share.
• Issued $2.5 billion of Senior Notes for general corporate purposes.
• 2020 and 2021 capital investments attributable to Valero forecasted at $2.0 billion for each year.
• Returned $399 million in cash to stockholders through dividends.

“The guiding principles underpinning our capital allocation strategy remain unchanged,” said Gorder. “There has been absolutely no change in our strategy, which prioritizes our investment grade ratings, sustaining investments and honoring our dividend.”

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

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