Welcome to our dedicated page for Valero Energy news (Ticker: VLO), a resource for investors and traders seeking the latest updates and insights on Valero Energy stock.
Valero Energy Corporation reports news on its business as a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products. The company operates through Refining, Renewable Diesel, and Ethanol segments, with petroleum refineries in the United States, Canada, and the United Kingdom; ethanol plants in the U.S. Mid-Continent; and a joint venture interest in Diamond Green Diesel, which produces renewable diesel and sustainable aviation fuel.
Recurring Valero updates include operating and financial results, refinery throughput and segment performance, capital investments for turnarounds and regulatory compliance, common-stock dividends, shareholder matters, and executive or governance changes. Company releases also describe product markets across the United States, Canada, the United Kingdom, Ireland, and Latin America.
Valero Energy Corporation (NYSE: VLO) reported a net income attributable to stockholders of $3.1 billion, or $8.29 per share, for Q1 2023, a significant increase from $905 million, or $2.21 per share, in Q1 2022. The refining segment achieved an operating income of $4.1 billion, while the Renewable Diesel segment reported $205 million in operating income. The company reduced its debt by $199 million and returned over $1.8 billion to stockholders through dividends and buybacks. Valero's quarterly dividend rose to $1.02 per share. The Port Arthur Coker project commenced operations in April, enhancing throughput capacity. Additionally, Valero's joint venture is targeting a Sustainable Aviation Fuel project, expected to bolster future production capabilities.
Valero Energy Corporation (NYSE: VLO) will host a conference call on April 27, 2023 at 10:00 a.m. ET to discuss its first quarter 2023 earnings results, to be released earlier that day. Investors can join the call via the Valero Investor Relations website. Valero is a multinational manufacturer of petroleum-based and low-carbon liquid fuels, operating 15 refineries with a combined throughput of approximately 3.2 million barrels per day. The company also owns 12 ethanol plants with a production capacity of about 1.6 billion gallons per year and is a joint venture member in renewable diesel production.
Valero Energy Corporation (NYSE: VLO) and Darling Ingredients Inc. (NYSE: DAR) have finalized their investment decision for a Sustainable Aviation Fuel (SAF) project at the DGD Port Arthur plant, a joint venture between the two companies. The project, estimated to cost $315 million, aims to upgrade 50% of the plant's 470 million gallon annual capacity to SAF by 2025. This positions DGD as one of the largest SAF producers globally, enhancing Valero's growth strategy focused on renewables and reducing carbon intensity.
On January 31, 2023, Darling Ingredients (NYSE: DAR) and Valero Energy (NYSE: VLO) announced the final investment decision for a Sustainable Aviation Fuel (SAF) project at the Diamond Green Diesel (DGD) Port Arthur plant. The project, costing approximately $315 million, aims to upgrade 50% of the plant's 470 million gallon annual capacity to SAF by 2025, establishing DGD as a leading SAF manufacturer globally. CEO Randall C. Stuewe emphasized the significance of this venture in advancing their growth in aviation fuel and enhancing renewable energy solutions.
The Board of Directors of Valero Energy Corporation (NYSE: VLO) has announced an increase in the quarterly cash dividend from $0.98 to $1.02 per share. This adjustment raises the annualized dividend rate to $4.08 per share. The new dividend will be payable on March 16, 2023 to shareholders on record as of February 14, 2023.
Valero is a multinational manufacturer of petroleum-based and low-carbon fuels, with a significant operational presence in the United States, Canada, and the United Kingdom. The company owns 15 refineries with a throughput capacity of 3.2 million barrels per day.
Valero Energy Corporation (NYSE: VLO) reported a record net income of $3.1 billion, or $8.15 per share, for Q4 2022, compared to $1.0 billion or $2.46 per share in Q4 2021. The full-year net income reached $11.5 billion, or $29.04 per share, up from $930 million in 2021. The Refining segment achieved an operating income of $4.3 billion in Q4. Valero reduced debt by $2.7 billion in 2022, totaling $4.0 billion since the second half of 2021. The new DGD Port Arthur plant commenced operations, significantly boosting renewable diesel production capacity. Valero returned 45% of adjusted net cash to stockholders, reinforcing its commitment to shareholder value.
Valero Energy Corporation (NYSE: VLO) will host a conference call on January 26, 2023, at 10:00 a.m. ET to discuss its fourth quarter and full year earnings for 2022, releasing the results on the same day. Interested parties can access the call via the company's Investor Relations website.
Valero Energy Corporation (NYSE: VLO) has announced the appointment of Marie A. Ffolkes as an independent director on its board, effective immediately. Ffolkes, founder and CEO of Axxelist LLC, has extensive experience in various sectors including industrial gas production. Her past roles include CEO of TriMark USA and President of Industrial Gases, Americas at Air Products & Chemicals. This addition aims to bring a global operational perspective to Valero's board. Ffolkes also serves on the board of Masco Corporation (NYSE: MAS).
Valero Energy Corporation (NYSE: VLO) has declared a quarterly cash dividend of $0.98 per share, payable on December 8, 2022. Record holders as of November 17, 2022 will receive this dividend. Valero operates 15 refineries with a combined throughput capacity of approximately 3.2 million barrels per day and is involved in renewable and ethanol production, emphasizing its role in the U.S., Canada, and the U.K. This dividend reflects Valero's commitment to providing returns to its shareholders.
Valero Energy Corporation (NYSE: VLO) reported a robust net income of $2.8 billion, or $7.19 per share, for Q3 2022, a significant increase from $463 million in Q3 2021. Adjusted net income also stood at $2.8 billion. The company reduced its debt by $1.25 billion in September 2022, totaling around $3.6 billion in debt reduction since mid-2021. Refining segment operating income surged to $3.8 billion. Valero continues to focus on maximizing refining utilization and is progressing on strategic projects aimed at improving margins and throughput capacities.