Valero Energy (VLO) announced a planned CFO transition. The Board appointed Homer Bhullar as Senior Vice President and Chief Financial Officer, effective January 1, 2026. He will serve as Valero’s Principal Financial Officer and Principal Accounting Officer upon assuming the role. Jason Fraser submitted notice of his retirement as Executive Vice President and CFO effective at the close of business on December 31, 2025, and as an employee in the first quarter of 2026.
Bhullar has led investor relations and finance since April 29, 2021, and previously held business development and corporate development roles after joining Valero in 2014, following investment banking roles at J.P. Morgan and Citigroup. Effective January 1, 2026, his compensation will include base salary of $770,000 (from $500,000), a bonus target of 85% of base salary (from 75%), and a long‑term incentive target of 350% of base salary (from 220%).
Valero Energy (VLO) reported Q3 2025 results. Revenue was $32,168 million and operating income was $1,509 million. Net income attributable to stockholders was $1,095 million, or $3.54 per share, compared with $1.14 a year ago. For the first nine months, revenue totaled $92,315 million and operating cash flow was $3,769 million.
Strategic and accounting updates: In March 2025, Valero recorded a $1.1 billion asset impairment tied to its California refineries after deciding to cease refining at the Benicia Refinery by the end of April 2026. The company recognized incremental depreciation of about $100 million in Q3 (approximately $200 million year-to-date) and a $50 million one-time employee transition liability.
Balance sheet and capital returns: Cash and cash equivalents were $4,764 million as of September 30, 2025; debt and finance lease obligations (long-term) were $9,687 million. Valero issued $650 million of 5.150% Senior Notes due 2030 and used proceeds to repay 2025 maturities. Year-to-date, it repurchased $1,544 million of stock and paid $1,061 million in dividends. Shares outstanding were 305,009,539 as of October 17, 2025.
Valero Energy Corporation filed an 8-K to announce it furnished a press release with its financial and operating results for the third quarter ended September 30, 2025. The press release, dated October 23, 2025, is included as Exhibit 99.01.
The information was furnished under Item 2.02 and is not filed, which means it is not incorporated by reference into Securities Act registration statements unless specifically identified. The filing also includes the Inline XBRL cover page as Exhibit 104.
Valero Energy Corporation amended and restated its revolving credit agreement, extending the maturity from November 22, 2027 to October 16, 2030. The Credit Facility provides a revolving commitment of up to $4,000,000,000, including a letter of credit subfacility of up to $2,400,000,000, and allows increases of up to $1,500,000,000 for a total commitment of $5,500,000,000.
Borrowings accrue interest at either the Term SOFR Rate plus a margin of 0.9%–1.5% per annum or the Alternate Base Rate plus 0.0%–0.5%, in each case based on the company’s credit ratings. A commitment fee of 0.1%–0.25% per annum applies to used and unused commitments. Interest and fees are payable quarterly in arrears. JPMorgan Chase Bank, N.A. is Administrative Agent. Proceeds are for general corporate purposes, with customary covenants and events of default.
Robert L. Reymond, a director of Valero Energy Corp (VLO), was granted 924 stock units on 09/18/2025. Each stock unit represents a right to receive one share of common stock and the units are scheduled to vest one year from the grant date. The reported acquisition is recorded at a $0 price, indicating these were awarded stock units rather than a market purchase. The Form 4 was signed by an attorney-in-fact on behalf of Reymond on 09/22/2025.
Robert L. Reymond filed an initial Form 3 reporting beneficial ownership in Valero Energy Corp (VLO). The filing shows direct ownership of 450.85 shares and lists Mr. Reymond's mailing address in San Antonio, TX. The event date triggering the statement is 09/18/2025 and the Form 3 was signed by an attorney-in-fact on 09/22/2025.
The filing identifies Mr. Reymond as a director of the issuer and indicates the form was filed by one reporting person. No derivative securities or additional holdings are reported and there are no explanatory remarks provided.
Valero Energy Corporation disclosed the election of Mr. Reymond to its Board of Directors effective September 18, 2025. He received a pro‑rata equity grant of 924 stock units that are scheduled to vest in full on the first anniversary of the grant and is entitled to a pro‑rata annual cash retainer of $97,500. The filing states Mr. Reymond is expected to stand for re‑election at the anticipated 2026 Annual Meeting.
The 8‑K includes customary forward‑looking cautionary language noting actual results may differ due to legislative, market, geopolitical, weather, cyber, and other risks. The company emphasizes that the Form 8‑K disclosure is not an admission of materiality and refers readers to its public filings for additional risk factors and details.
Valero Energy Corporation (VLO) filed an 8-K dated 24 Jul 2025 to furnish, not file, a press release disclosing its Q2-25 financial and operating results. The release is attached as Exhibit 99.01; however, specific revenue, earnings or margin figures are not included in this filing. The disclosure falls under Item 2.02 – Results of Operations and Financial Condition, indicating that the information will not be incorporated by reference into Securities Act registration statements unless expressly stated. No other material events, transactions, or changes in control are reported. Exhibit 104 provides the Cover Page Inline XBRL.