Valero Q1 net income $3.1B, EPS $8.29; dividend raised to $1.02/share

VALERO ENERGY CORP/TX

2023-Q1 EPS reported $8.29 revenue$36,439,000,000

Net income attributable to stockholders $3.1B ($8.29 GAAP EPS; $8.27 adj.) vs $905M ($2.21) in Q1 2022.
Refining operating income $4.1B ($1.5B YoY); throughput 2.9M bpd at 93% utilization.
Returned over $1.8B to stockholders: $379M dividends + $1.5B buybacks; quarterly dividend raised to $1.02/share.
Completed Port Arthur Coker project; DGD approved SAF project at Port Arthur (2025, $315M total cost).
Reduced debt by $199M; debt-to-capitalization net of cash 18% as of March 31, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VALERO ENERGY CORP/TX reported the first quarter of 2023 results: net income net income attributable to Valero stockholders of $3.1 billion, EPS $8.29 per share.

Period: the first quarter of 2023
Net income: net income attributable to Valero stockholders of $3.1 billion
EPS: $8.29 per share
Result: reported results

Exact text from the filing

Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $3.1 billion, or $8.29 per share, for the first quarter of 2023

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Source: SEC EDGAR

accession 0001035002-23-000052

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