---
schema_version: "secwatch.filing_event.v1"
accession: "0001035002-23-000052"
form_type: "8-K"
ticker: "VLO"
cik: "0001035002"
company_name: "VALERO ENERGY CORP/TX"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T07:46:01.934402+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001035002-23-000052
- form_type: 8-K
- ticker: VLO
- cik: 0001035002
- company_name: VALERO ENERGY CORP/TX
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1035002/000103500223000052/0001035002-23-000052-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1035002/000103500223000052/vlo-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001035002-23-000052
- JSON: https://secwatch.observer/filing/0001035002-23-000052.json
- Plain text: https://secwatch.observer/filing/0001035002-23-000052.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035002/000103500223000052/0001035002-23-000052-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.