Valero Energy Reports Q2 Profit Decline Due to Lower Refining Volumes

Valero Energy reported a Q2 profit of $714 million, or $2.28 per share, down from $880 million, or $2.71 per share in the same period last year, due to lower throughput volumes. The company's Q2 profit fell despite a strong crude oil market, which typically benefits refiners.

Valero Energy Corporation (VLO) reported a 20% decline in its second-quarter profit, with earnings falling to $714 million, or $2.28 per share, compared to $880 million, or $2.71 per share in the same period last year. The reduction, despite a robust crude oil market, was primarily attributed to lower throughput volumes [1].

The company's earnings before market open, as expected by analysts, were $1.76 per share, marking a 35.2% year-over-year decrease. The earnings call is scheduled for 10 AM EDT, providing investors with more insights into the company's performance [2].

Valero Energy operates through three segments: Refining, Renewable Diesel, and Ethanol. Despite the profit decline, the company's revenue for the quarter stood at $29.89 billion, a 13.3% year-over-year decrease, but still managed to beat expectations by $2.73 billion [3].

Valero Energy's stock, currently trading at $147.54, has seen a 1.67% increase from its previous close of $145.11, with a market capitalization of $46.21 billion. The company's forward dividend yield is 4.52%, with the ex-dividend date set for July 31, 2025 [2].

Valero Energy's Q2 performance highlights the impact of lower throughput volumes on refining profitability. The company's strong market position and diverse product offerings will be key factors in its ability to recover from this setback.

References:
[1] https://www.marketscreener.com/news/valero-energy-reports-second-quarter-profit-fall-ce7c5cd3df8bf726
[2] https://finance.yahoo.com/quote/VLO/
[3] https://seekingalpha.com/news/4471262-valero-energy-non-gaap-eps-of-2_28-beats-by-0_51-revenue-of-29_89b-beats-by-2_73b