Valero Energy reported strong Q2 2026 results, with revenues of $44,476 million and net income attributable to stockholders of $3,720 million versus $714 million a year earlier; diluted EPS was $12.62. For the first six months of 2026, net income attributable to stockholders totaled $4,983 million.
Refining generated operating income of $4,470 million in Q2, while Renewable Diesel swung to operating income of $717 million and Ethanol contributed $318 million. A $44 million LIFO inventory layer benefit also supported margins.
Operating cash flow reached $6,970 million in the first half, funding $798 million of capital investments and $3.6 billion returned to shareholders via share repurchases and dividends. Cash, cash equivalents, and restricted cash increased to $8,054 million, liquidity was $12.7 billion, and Valero issued $850 million of 5.150 percent Senior Notes due 2036 amid ongoing Benicia decommissioning and recovery from a Port Arthur refinery fire.
Valero Energy Corporation reported very strong second-quarter 2026 results. Net income attributable to stockholders was $3.7 billion, or $12.62 per diluted share, for the quarter ended June 30, 2026, compared with $714 million, or $2.28 per share, a year earlier. Excluding specified items, adjusted net income was $3.697 billion, or $12.54 per share. Revenues were $44.476 billion versus $29.889 billion in the prior-year quarter, and the effective tax rate was 21 percent.
The Refining segment generated operating income of $4.47 billion versus $1.266 billion in 2025, with refining margin of $6.342 billion and margin per barrel of $23.62 on 2.95 million barrels per day of throughput. Renewable Diesel delivered $717 million of operating income, reversing a $79 million loss, while Ethanol operating income increased to $318 million from $54 million; both segments reported higher per-unit margins.
Net cash provided by operating activities was $5.58 billion, including a $706 million working-capital benefit and $389 million attributable to the other Diamond Green Diesel joint-venture member; adjusted operating cash flow was $4.485 billion. Capital investments were $350 million, and stockholder cash returns totaled $2.6 billion, a 59 percent payout of adjusted operating cash flow. Valero ended the quarter with $9.101 billion of debt, $2.248 billion of finance lease obligations, and $7.874 billion of cash, for a debt-to-capitalization ratio net of cash of 11 percent. The $230 million St. Charles FCC optimization project remains on track for completion and start-up in the third quarter of 2026.
Valero Energy Corporation reported that its board of directors has expanded the company’s share repurchase capacity. On February 25, 2026, the board authorized a common stock repurchase program of up to $2.5 billion with no expiration date, under which $1.4 billion remained available as of June 30, 2026.
On July 16, 2026, the board approved an additional authorization to purchase common stock for a total cost of up to $5.0 billion, also with no expiration date and in addition to the remaining capacity under the February 2026 program. The disclosure is furnished under Regulation FD rather than filed under the Exchange Act.
Valero Energy senior vice president Eric A. Fisher reported an open-market sale of 7,500 shares of Valero common stock on June 29, 2026 at an average price of $268.1743 per share. After this transaction, he directly holds 19,742 shares of common stock.
A footnote states this direct amount does not include 1,089.7092 shares that Fisher indirectly holds through a thrift plan, which are reported separately from his direct ownership.
Valero Energy Corp. (issuer) submitted a Form 144 notice reporting proposed sales of Common Stock in broker-dealer accounts. The filing lists 7,500 shares associated with Pershing Advisor Solutions and discloses two recent sales by Eric Fisher of 7,500 shares each on 06/18/2026 and 05/18/2026.
The excerpt also lists multiple stock grants with share counts (1,898; 3,256; 1,919; 85; 1,035) and shows shares outstanding 296,930,000 as of 06/29/2026.
Valero Energy senior vice president Eric A. Fisher reported an open-market sale of 7,500 shares of common stock at an average price of $236.9041 per share. After this transaction, he directly owns 27,242 shares, and a further 1,089.7092 shares are held indirectly in a thrift plan.
Issuer filed Form 144 reporting proposed and recent sales of common stock. The filing lists 7,500 shares with a corresponding figure of $1,807,500.00 and identifies Pershing Advisor Solutions as the broker. The document also discloses multiple recent dispositions, including 8,311 shares on 03/11/2026 and 7,500 shares on 05/18/2026.
Valero Energy senior vice president Eric A. Fisher sold 7,500 shares of Common Stock in an open-market transaction. The shares were sold at an average price of $251.6086 per share. After the sale, he directly holds 34,742 Valero shares.
A footnote states this direct amount does not include 1,089.7092 shares indirectly held by Fisher in a thrift plan, which are in addition to his reported direct holdings.
Reported proposed resale of Common Stock by holders associated with Eric Fisher. The filing lists a sale of 8,311 shares by Eric Fisher on 03/11/2026 and two trustee-related sales of 200 shares each on 03/12/2026. Several restricted stock vesting entries for Eric Fisher are also listed with dates in 2023, 2024, and 2025.
WILKINS RAYFORD JR reported acquisition or exercise transactions in this Form 4 filing.
Valero Energy Corporation director Rayford Wilkins Jr received a grant of 939 stock units on May 7, 2026. Each stock unit represents the right to receive one share of Valero common stock and was awarded as compensation.
The stock units are scheduled to vest at Valero’s 2027 annual meeting of stockholders, and are subject to a further one-year holding requirement under a Stock Unit Award Agreement. After this grant, Wilkins Jr holds 939 stock units directly.