Valero Q1 net income $905M ($2.21 EPS); refining op income $1.45B vs loss; DGD 3 accelerated to Q4'22

VALERO ENERGY CORP/TX

2022-Q1 EPS reported $2.21 revenue$38,542,000,000

Net income $905M ($2.21 EPS) vs net loss $704M (-$1.73) YoY; adjusted net income $944M ($2.31 EPS).
Refining segment op income $1.45B vs -$592M loss; throughput 2.8M bpd (+390k bpd).
Returned $545M to stockholders ($401M dividends, $144M buybacks); reduced long-term debt $750M in Q1 ($2B in 6 months).
DGD 3 (470M gal/yr renewable diesel) accelerated to Q4'22 from prior Q1'23.
Capital investments $843M; cash $2.6B; debt-to-cap net of cash 34%.

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