secwatch.observer — SEC 8-K summary
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Issuer:     VALERO ENERGY CORP/TX (VLO)
CIK:        0001035002
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0001035002-23-000010
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Valero Q4 net income $3.1B ($8.15/sh); full-year net income $11.5B ($29.04/sh)
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- Q4 net income $3.1B ($8.15/sh); adjusted $3.2B ($8.45/sh); Refining operating income $4.3B vs $1.3B YoY.
- Full-year net income $11.5B ($29.04/sh); adjusted $11.6B ($29.16/sh); generated $13.8B adjusted operating cash flow.
- Debt reduced by $2.7B in 2022, total reduction $4.0B since H2 2021; debt-to-cap net of cash 21% vs 40% pandemic high.
- Refinery utilization 97% in Q4, highest since 2018; DGD Port Arthur plant started ahead of schedule and under budget.
- Renewable Diesel segment Q4 operating income $261M (+$111M YoY); Ethanol $7M vs $474M YoY due to lower prices.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1035002/000103500223000010/0001035002-23-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1035002/000103500223000010/vlo-20230126.htm
  HTML page:      https://secwatch.observer/filing/0001035002-23-000010

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