Valero Q4 net income plunges 77% to $281M; FY2024 EPS $8.58 vs $24.93

VALERO ENERGY CORP/TX

2024-FY EPS reported $8.58 revenue$129,881,000,000

Q4 revenue $30.8B, down 13% YoY from $35.4B; operating income $348M vs $1.55B.
Net income attributable to Valero: $281M ($0.89 diluted EPS) vs $1.20B ($3.55) in Q4 2023.
Full-year 2024 net income $2.77B ($8.58 EPS), down from $8.84B ($24.92 EPS) in 2023.
IRS approved cellulosic ethanol tax credit; $79M current income tax benefit recognized for 2020-2024 volumes.
Recorded $29M charge in FY2024 related to canceled Navigator carbon capture pipeline project.

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