secwatch.observer — SEC 8-K summary
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Issuer:     VALERO ENERGY CORP/TX (VLO)
CIK:        0001035002
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001035002-23-000052
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1035002/000103500223000052/0001035002-23-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1035002/000103500223000052/vlo-20230427.htm
  HTML page:      https://secwatch.observer/filing/0001035002-23-000052

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer